Two factors control how much money you can make out of your Short Stay Rental (STR): occupancy level and nightly rates. Every host will remember the first time they listed their property and the anxiety of setting your rates, “am I too expensive, will I get a booking?” and then when doing a search on your competitors thinking “how are they charging that much, do people really pay that?”
Take the sweat out of setting your pricing and use big data and expert pricing analysis to put the control back in your hands.
For every new Premium Partner we utilise PriceLabs to analyse your unique market. We use key market booking trends within your bedroom category and analyse: Average Daily Rates, Booking Window and average Length of Stay for each month. We then go one step further and build out a list of comparable listings to get a qualitative view of where your specific listing sits within the market.
From this view we create a unique dynamic pricing profile within Pricelabs with the sole aim of maximising your yield.
We will workshop the pricing strategy with you during a one on one pricing meeting. Your local market expertise and experience is a highly valuable contribution to the overall data set and we will work cooperatively with you to ensure we set the right strategy for you.
Over the coming weeks and months Pricelabs’ algorithms will continue to adjust our pricing daily to meet the current market. We will continue to change our settings to maximise opportunities in consultation with you.
