Learn how to integrate PriceLabs with Houfy for dynamic pricing of your vacation rentals. Maximize your revenue and stay competitive with data-driven pricing strategies.
If your vacation rental pricing strategy looks more like a gamble, it's time to take a step back. As a property manager, setting nightly rates can be tricky. You want to secure high occupancy rates without leaving money on the table. This is where a revenue management tool can help.
At Houfy, we're thrilled to announce our new PriceLabs integration, making dynamic pricing for vacation rentals a breeze. Say goodbye to second-guessing your rates and welcome a concrete pricing strategy to increase profitability. In this guide, we'll delve deeper into everything you need to know about this new partnership.
Here are the most important benefits of using a dynamic pricing tool like PriceLabs:
PriceLabs is revenue management software specifically designed for short-term rental businesses, helping homeowners set competitive prices. Based on data analysis, PriceLabs scans the market to understand past and future supply and demand and provides optimal nightly rates. This not only saves you time from tedious admin tasks but also gives you confidence that your pricing is competitive.
PriceLabs comes with various features for vacation rental hosts. Here are the most important ones:
Here's how to connect your Houfy account with PriceLabs:
When you're ready to sync, toggle on the sync switch for your listing and wait for our regular nightly sync, or click the "Sync now!" button to update rates on Houfy immediately. Once a successful sync has happened, you can find your PriceLabs rates and minimum stay settings on:
When syncing with Houfy, PriceLabs will update daily rates and minimum stay requirements for dates up to one year from today, along with check-in and check-out restrictions. Existing last-minute weekly and monthly discounts set in Houfy will continue to apply once PriceLabs is connected. However, PriceLabs will overwrite all seasonal and calendar rates each time an update happens.
PriceLabs' monthly fee is set at $19.99. You can also start a 30-day free trial to test the waters. For more information, head over to their website.
If you are syncing to Houfy and other channels, like Vrbo and Airbnb, from PriceLabs, PriceLabs will not coordinate calendars between listings. You must create an iCal connection between each channel to make sure reservations booked on one platform appear as blocked dates on the other.
You can also map your listings together so that you are not double invoiced for the same property (check PriceLabs' guide). Once listings are mapped, you can use the pricing offset customization to account for the difference in commissions between channels.
This new integration with PriceLabs marks a new era for Houfy hosts, who get to maximize their rental income, attract more guests, and fill their vacancies. No more basing your pricing on luck or under-selling your provisions. With PriceLabs, you can make smart choices about your properties and maintain consistent pricing across different booking platforms.
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