PriceLabs works everywhere on earth! Their machine-learning algorithms are ready to crunch data and build optimized pricing-models for your property. These models look into all possible sources of demand, then supply data to calculate daily base rates for pricing optimization.
This integration allows you, as a Hostfully user to import properties to PriceLabs and access dynamic pricing instantaneously. You can choose and set a base price on PriceLabs, or use PriceLabs' recommended base price. Once you're satisfied with the dynamic prices you can “Sync Prices” so that PriceLabs' servers can dynamically price your listings once every day on Hostfully's calendar.
On Hostfully's PMP:
1 – Enable the switch on the Integrations page clicking on the drop-down arrow by your Agency Name, click Integrations, and toggle the switch for PriceLabs to ON:
2- Access your property using the drop-down arrow by your Agency Name, click Our Properties, and the property name:
3- Under Main Settings, make sure you have set a “Nightly Base Price” and complete the address fields:
4- Wait for an email from PriceLabs regarding your new account, then reset your password
Note: If you already have an account with PriceLabs then you should see your listings under your account ready to be priced dynamically! There is a delay of 15 minutes to pull your properties into PriceLabs. If you don’t see them write an mail to firstname.lastname@example.org.
Once you login at PriceLabs, you'll see a dashboard with all your listings and their health. Health of listing shows how a listing is getting booked. Green indicates good health, orange indicates moderate health, and red indicates you aren’t getting many bookings.
1- Click on the green “Review Prices” button across the listing to see your prices. The first attempt on a listing usually takes some time, so please be patient as PriceLabs fetches data and builds your dynamic pricing.
2- Review your prices:
You can review your prices and see what base rate PriceLabs has calculated. If you feel your base rate should be a different value, please enter your base rate in the input boxes and click “Save”. Enter any minimum and maximum price, if required.
You have two views to choose: calendar view or graph view. In calendar view each cell has a color that signifies demand. When you hover over each day you can see the reason for the prices set. In graph view you can also see demand pricing reason in blue and your own listing’s price in black:
Other PriecLabs Features:
Choose to “Sync Prices” once a day, or see prices updated on your calendar sooner using “Sync Now” to immediately sync your Hostfully calendar with PriceLabs.
After a couple of days you can use the “Base Price Help” feature of your listing. It will help you decide what a good base price is.
Understand your market by generating “Market Intelligence Reports” that will give you an insight of the vacation rental industry with hotel occupancies.
If you have any questions about how to use Hostfully with your PriceLabs account, please send an email to email@example.com.
To learn about PriceLabs please email firstname.lastname@example.org