Price Calculations
How PriceLabs Handles Event Pricing?
Pricing for events can be tricky, especially when some events are widely known and others are more localized or unadvertised. At PriceLabs, we combine the power of our HLP algorithm with manual inputs to ensure your pricing reflects demand spikes ...
What is Historical Data and How Do We Use It?
Understanding a listing’s historical data is essential for anticipating future trends and optimizing pricing strategies. By learning from past performance, you can make informed decisions about your listing and gain a competitive edge. What is ...
'AI Insights' in Neighborhood Data: Understanding Price and Occupancy charts
At PriceLabs, our mission is to democratize revenue management. This is why we’re thrilled to announce that we’re now leveraging Generative AI to turn complex data into simple sentences. We can convert a data-rich graph into a clear text paragraph ...
Events, Holidays, and High-Demand Dates
The Events/Holidays feature allows you to stay informed about significant occasions in your hyperlocal market, providing insights into upcoming events, holidays, and high-demand dates. This also includes the average prices set for each of these ...
Pricing Recommendation Nudges
The Nudges framework delivers customized suggestions to help you save time and fine-tune your pricing strategy for better occupancy and revenue—especially useful if you're managing a large portfolio. Before You Start Nudges do not automatically ...
How Pricelabs Dynamic Pricing can affect your Airbnb ranking
Airbnb's search engine plays a crucial role in helping travelers find the perfect accommodation for their needs. To ensure that guests are shown the most relevant listings, Airbnb uses a complex algorithm that takes into account a wide range of ...
Percentile Distribution
Percentiles represent values on a scale of 100, showing where a particular observation lies in relation to a larger data set. In PriceLabs, percentiles help you understand how your property's prices compare to others in the market. Before You Start ...
Using Vrbo data for your dynamic pricing!
After 2 years of tracking Vrbo booking trends, we're finally ready to put them to work. You can now opt in to have Vrbo data drive your dynamic pricing recommendations if you are in a Vrbo heavy market. We did want to add a few findings from out ...
Pacing Factor
The pacing adjustment has been put in place for some markets where the projected demand is deviating significantly from historical seasonal trends. This deviation is calculated by considering how much ahead or behind your market occupancy is this ...
How should you price compared to your competition?
We sometimes get requests from our customers asking if it would make sense to have their pricing/rates always hover at the median price (or some other percentile to reflect their home's desirability) of the comparable neighborhood market. While ...
How Are the Price Recommendations Calculated?
Our algorithm integrates multiple factors, customizable inputs, and controllable settings, alongside data-driven analytics, to deliver enhanced results. Here are the factors we apply when calculating prices for a listing: You must first set your Base ...
Listing Neighborhood Data
When pricing any listing, there are always several questions that come up: What is the average price in your area? How are prices compared to comps? How does occupancy compare? How are listings priced in the next months? Are they getting booked? Are ...