Increase Revenue and Optimize Occupancy with Dynamic Pricing
Setting the right price for your short-term rental can be challenging, especially as market conditions and demand fluctuate throughout the year. While many hosts rely on researching and manually adjusting their prices or using basic seasonal rates, staying competitive and maximizing revenue requires a more consistent and sophisticated approach. If you’re looking to get the most revenue and occupancy out of your properties, you need to leave static pricing strategies in the rearview mirror.
That's why we're excited to announce that Dynamic Pricing is now included for all Hospitable users at no additional cost! Regardless of whether you’re on our Host, Professional, or Mogul plan, you’ll now have access to real-time data to optimize your rental rates, maximize occupancy, and increase revenue across your booking channels.
We do this by drawing on multiple trusted market data sources and layering them with Hospitable’s proprietary pricing engine. This was developed in-house and responds to real-time market fluctuations, host preferences, and booking behaviors. The best part about Dynamic Pricing is it’s embedded conveniently within the Hospitable calendar, so you can manage all your bookings in one place!
How’s It Work?
Preview Before You Commit
Typically, you’ll start by accessing your property’s calendar in Hospitable, where you'll get a 30-day preview of recommended prices based on your property and available market data. However, during the first month after launch, you’ll have access to a 24-month preview of the pricing on your calendar, giving you in-depth insights. This preview will allow you to see exactly how Dynamic Pricing can impact your revenue before activating the feature.
Configure Your Setup
Setting up Dynamic Pricing is a straightforward process and is designed to ensure you stay in control of your occupancy while maximizing revenue:
- Choose your pricing strategy (conservative, recommended, or aggressive)
- Set your properties’ minimum and maximum price limits
- Preview the suggested rates for the next 30 days on your calendar
- Activate the dynamic pricing tool when you're ready to go live with it
Maintain Flexible Control
Dynamic Pricing gives you powerful tools to manage your rates. After activation, you retain complete control over your pricing strategy:
- Manually adjust rates for specific dates as needed
- Set custom rules for special events and seasons
- Modify your base rates and limits at any time
- Access detailed market insights with price recommendations
Why Use It?
If you are not currently using a dynamic pricing tool, our solution is easy to start using, and the best part is that it’s included in all of our subscription plans! If you are using a third-party dynamic pricing tool, give ours a try and stop overpaying for solutions that we’re including in your Hospitable subscription!
Besides the obvious cost savings, Dynamic Pricing is essential for any short-term and mid-term rental hosts ready to take their business to the next level. This is because the benefits of using a dynamic pricing tool impact multiple parts of your business, including:
- Maximizing Revenue. Dynamic pricing tools boost revenue per available room by using extensive data points to automatically adjust rates for optimal reservation prices.
- Saving Time. Eliminate the need to manually update prices across multiple platforms. Dynamic Pricing automatically pushes rate updates to all your connected channels.
- Staying Competitive. Ensure your rates remain competitive with real-time market data and demand-based adjustments.
- Increased Occupancy. Find the sweet spot between competitive pricing and maximum revenue to boost your occupancy rates.
Our dynamic pricing tool works seamlessly across all your booking channels, including Airbnb, Vrbo, Booking.com, Agoda, and your Direct booking website! Please note that properties with Dynamic Pricing enabled are considered active and not eligible for the monthly inactive property discount.
Want to see how Dynamic Pricing could improve your revenue? Check your calendar to preview personalized price recommendations based on your market and property data.
What Do You Think?
We would love to hear your thoughts about Dynamic Pricing. Is there something you’d like to see in the feature's coming iterations? Fill out the form below!
Stay tuned for more product updates!
