Pricelabs for airbnb

4 Replies

I don't use any of those namby pamby websites like Pricelabs.  I just look at my competition and offer more at the same price or offer the same at a lower price.  It's simple economics and psychology, marketing is the hard part.

I would highly recommend pricelabs.  But nobody can give you optimal anything because it depends on your Market and the season and the property and how far out and a number of other things.

if you're not familiar with your Market or you are new, I would suggest to accept their settings but scrutinize the week vs weekend, minimum stay settings, and not let the minimum and maximum get out of hand.

Originally posted by @Jacob G. :

Anybody use this for airbnb? What are the optimal customizations to use?

 

@Jacob G. I've been using it and it is super helpful to adjust pricing on a daily basis depending on demand for the dates and many other factors. For instance, it will automatically lower the price if there is a small gap in between other stays. I've also found it useful to set a specific rate for specific dates I want to override, such as holiday weeks. I saw they just released several new features, the one that will be useful for me is to set a separate floor price for low season vs the rest of the year.

Optimal is in the eye of the beholder - you have to develop your own pricing strategies and then pricelabs gives you the tools to implement that in a more automated fashion. Things like higher pricing on weekends, or last minute discounts, or minimum number of nights. You also have to experiment with the pricing inputs so that it uses price ranges you are targeting. 

you start with their defaults and ponder adjustments. Personally, I think you should be hesitant to start monkeying around unless you have a solid reason why you can do better.