Hi All- I’m a new listing in a ski/foliage area. Got my first bookings right away when I went live recently for weekend skiers, thru mid March. Is it worth it for me to invest in a dynamic pricing service? It looks like that service may focus mostly on larger urban areas. I devoted lots of time to getting my listing up and running and am hoping to dial back on that to give time to my other (neglected) business. I’m attracted to something that’s more set-and-forget. What’s the most efficient thing for me to do here? Thanks
Do your research, look what others are charging and see where you fit.
Set up smart pricing when you have a better understanding of your market. I only open dates three months in advance and set prices on every single day.
Make sure all the Air promos are NOT enabled or you’ll find yourself screwed out of good revenue. Their default setup will be “book you up and give away a big percentage”.
I do NOT use their booking prices because they cannot take into consideration items that make the listing more appealing like distance to beach, proximity to attractions, etc. and small but meaningful items like plushness of bedding
I raise my prices every so often, never lower them unless the recent increase slows bookings. So far so good. I would never turn over my business to an algorithm
I run a property management business in Australia and we have 60% of our properties in urban areas and 40% in vacation areas.
We have used PriceLabs for a number of years now and they have great functionality that is cheaper than most of the other tools. They may not look as pretty as the competitors but they work really well and at a cheaper price. You can easily make rules for specific areas or property types that will help you set and forget. I know they have recently made some hires so they are most likely improving their user interface which will be great.