Migrating to Hyper Local Pulse

Migrating to Hyper Local Pulse (less than 10 listings)

Migrating to Hyper Local Pulse (HLP) Algorithm in PriceLabs

Hyper Local Pulse (HLP) is an upgraded version of our previous algorithm. If you’re new to PriceLabs, your listings are already using HLP. However, if you’ve been with PriceLabs for a while, you’ll need to manually migrate your listings to benefit from the enhancements offered by HLP.

How to migrate in 5 simple steps:

Step 1: Activate Algorithm Version on the Pricing Dashboard

  1. Navigate to your Pricing Dashboard. (Skip to step 2 if the Algorithm Version is already shown on your Pricing Dashboard.
  2. Click on the 'Add Column' button
  3. Tick the checkbox for 'Algorithm Version.' A new column named 'Algorithm Version' will appear.
  4. You can sort this column to view all listings still using the old algorithm.

Note: If your account has mapped listings, we recommend migrating using the parent listing. Child listings can be migrated automatically during the parent migration process.

Step 2: Open Migration Page

  1. Under the Algorithm Version, click the 'Start HLP Migration' button next to the listing you wish to migrate.
  2. This opens the migration page dedicated to the transition to HLP.
  3. Toggle the switch for 'Switch to New Algorithm.'
  4. Select 'New Algorithm (Hyper Local Pulse)' from the dropdown menu.

Step 3: Review Base Price Recommendation

  1. Upon selecting the new algorithm, you will see a graph comparing your old and new prices.
  2. Below the chart, a recommended base price will appear.
    1. Some listings might require changes in base price to match average rates over the year with older algorithm. During the process of migration, a recommended base price will be shown right under the chart.
  3. At the bottom of the window, you have the option to keep your current base price. Tick the box if you want this option to apply.

Step 4: Adjust Customizations (If Needed)

HLP is a better algorithm than our previous version. If there are customizations we recommend you change, you will also see it below the graph. Below are the customization we commonly ask that you review:

  1. Demand Factor Sensitivity
    1. With HLP, the event and holiday pricing is improved, and we believe you don't need to make adjustments to this setting further. Hence we suggest you switch it to the "Recommended" option.
  1. Day of week pricing adjustment
    1. With Hyper Local Pulse, we believe you wouldn’t need to adjust your day of week pricing adjustments, as the algorithm should do it better. Hence we suggest you change the values to 0 in all the fields.
  2. Custom Seasonal Profile (Seasonal Base Prices)
    1. With Hyper Local Pulse, we believe you don’t need to adjust your base price with season as the algorithm should be doing a better job at the same. Hence, we suggest you remove the “Base Price” field in your seasonal profiles. You can keep the Min Price and Max Price.
  3. Seasonality
    1. With HLP, the seasonality calculation is improved, and we believe you don't need to make adjustments to this setting further. Hence we suggest you switch it to the "Recommended" option.
If you make changes to the customization, click 'Refresh Graph' to update the price comparison chart.

Step 5: Final Review and Save Changes

  1. The chart on the migration page displays:
    1. Final Price (Old Algorithm)
    2. Final Price (New Algorithm with your customizations)
    3. Uncustomized Price (New Algorithm without customizations)
  2. Review the graph to understand how your pricing will change.
  3. If you are satisfied, click 'Save Changes.'
Reminder:
  1. If you do not wish to accept the recommended base price, tick the 'Don't save base price change' box before saving.
  2. If migrating a parent listing, ensure the 'Migrate Child Listings to HLP' box is checked to migrate child listings automatically.
Once the page reloads, the algorithm version will display as 'Hyper Local Pulse' for both parent and child listings.

Additional Notes:

  1. You can manually migrate child listings individually if needed.
  2. When migrating a parent listing with child listings, customizations (including minimum stay settings) will copy over to the child.
  3. The Algorithm Version column reflects the state as of your last 'Save & Refresh.' If you make changes at the group or account level, you must 'Save & Refresh' for the updates to appear.

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