PriceMethod Launches The First Dynamic Pricing Solution For Airbnb, VRBO And HomeAway
PriceMethod, a dynamic pricing platform for vacation and short-term rentals on Airbnb, VRBO, and HomeAway, launched today in 60 markets across the United States. Headquartered in San Francisco, PriceMethod's software helps vacation rental hosts and owners increase their revenue 20-40% by helping hosts charge more during periods of high demand, and also capture more bookings during slow periods.
Every day, PriceMethod's software collects over 500 million data points. PriceMethod's PhD data science team has developed proprietary algorithms to analyze this data and recommend the best prices for each property each night. Any vacation rental host or owner can connect their Airbnb, VRBO, or HomeAway account and instantly see their ideal price for each night, as well as update the prices on their listing site with just a click of a button.
"Most hosts we speak to realize that they should be optimizing their pricing, but very few realize just how much money they're leaving on the table," says Joe Fraiman, founder and COO of PriceMethod. "Optimizing pricing is the number one thing a host can do to increase their revenue."
Hotels and airlines have operated this way for years, but the peer-to-peer rental market hasn't had the tools to follow suit. PriceMethod is changing that by offering an end-to-end automatic platform that allows users to earn more while working less.
"We're trying to level the playing field by offering hosts the same kind of software that hotels have been using for years," says Andrew Kitchell, founder and CEO of PriceMethod. "We help these small businesses with pricing optimization so they can focus entirely on being great hosts."
PriceMethod has already established a collaborative partnership with Tripping.com, the world's largest vacation rental search engine that aggregates over 2.5 million properties worldwide.
"We find it beneficial to pair PriceMethod's data analytics with the pricing data and search trends that we currently observe," says Jen O'Neal, Tripping.com CEO and founder. "The more trends we can identify and analyze together, the more we can lead the industry by helping our partners, hosts, and guests alike."
PriceMethod's key features include:
- Tailored to each unique listing. PriceMethod's recommendations are custom tailored to each unique listing. No two listings are alike, and PriceMethod's recommendations reflect that.
- Fully automatic price updating. Once a user turns on automated pricing, PriceMethod automatically updates their prices every day on their listing site.
- Works with many channels. PriceMethod can automatically price listings on Airbnb, VRBO, or HomeAway, with more sites coming soon.
- Pricing for individual days. With PriceMethod's platform, the host has control to enable automatic pricing for a single day, an event, a week, a month, or their entire calendar.
- Powered by data science. PriceMethod's pricing algorithms are developed by our team of PhD data scientists. Pricing unique assets every day is a hard problem, and PriceMethod has invested heavily in top level scientific talent to solve it.
- Local events. PriceMethod shows users the local events that drive demand for their listing.
- Major revenue opportunities. PriceMethod shows users the biggest revenue opportunities for each listing.
- 60-Market Launch: PriceMethod is live in over 6000 zip codes that span 60 major markets. We're expanding aggressively and expect to have nationwide coverage very soon. See the full list of covered areas here.
About PriceMethod
PriceMethod is a data-driven dynamic pricing platform for rentals on Airbnb, VRBO, and HomeAway. With PriceMethod, hosts can automate their pricing and earn 20%-40% more revenue automatically. PriceMethod is headquartered in San Francisco, CA.