What is Pricelabs | Taking Your Vacation Rental Business to the Next Level with Pricelabs

As the vacation rental industry grows, pricing strategy has become a crucial factor in determining a property’s success.

In fact, pricing has turned out to be the number one use case for AI among short-term rental professionals. Over 40% of respondents to Hostaway's survey on AI in the short-term rental industry say they leverage AI to set dynamic, optimized pricing.

Whether you’re just starting with dynamic pricing or looking to sharpen your approach, Pricelabs can be a game-changer for taking your vacation rental business to the next level. In this article, we’ll dive into how Pricelabs works, break down its key features and show how it connects with Hostaway to make pricing management smooth and efficient.

What is PriceLabs and How Does It Work?

Pricelabs is a smart pricing tool that helps property managers and rental owners set the best rates with ease. It uses real-time market data to automatically adjust prices based on demand, seasonality and local factors, so your properties stay competitive without constant manual updates.

In addition to automation, Pricelabs provides helpful insights about market trends, making it easier to understand local pricing and plan better. You can also customize settings like minimum price, base price, minimum stay rules, occupancy-based discounts, and seasonal rates to match your unique business needs.

Deep Dive into Three Key Features of PriceLabs

Automation

Pricelabs makes pricing effortless for property managers and rental owners who want a hands-off solution. It automatically adjusts rates based on factors like holidays, local occupancy factors and events, helping you maximize revenue without constant effort.

For instance, during a big festival, Pricelabs increases rates to boost your income. In slower seasons, it lowers prices to attract more guests, keeping your property competitive all year round.

Pricing adjustments

With Pricelabs, hosts can set custom rules tailored to their business goals. These adjustments allow vacation rental hosts to optimize both occupancy and revenue by responding to local factors and keeping within rules like minimum price, base price, minimum stay restrictions, etc.

Occupancy-based discounts

Prices can be adjusted based on how booked a property is. During low-occupancy periods, discounts help attract more guests, while higher rates during busy times maximize profitability.

Minimum and maximum stay requirements

Stay-length rules give managers control over bookings. For example, short stays can be discouraged during peak seasons, while longer bookings can be incentivized during quieter months to boost occupancy and revenue.

Seasonal adjustments and last-minute discounts

Custom rules can be set for seasonal price changes or last-minute offers to match market demand. For instance, rates can increase ahead of a high-demand season or drop during slower periods to attract budget-conscious travelers and maintain steady bookings.

Market analysis

One of the standout features of this platform is its market analysis, which goes beyond simple price updates to deliver actionable insights. These insights help ensure your property remains relevant and competitively priced by providing:

Competitor analysis

As a smart pricing tool, it scans comparable properties in your area, offering data on their rates and occupancy levels. This allows you to see how your property measures up and optimize pricing to maintain a competitive edge.

Occupancy trends and price forecasting

By identifying changes in demand and booking windows, you can set rates within your maximum price to capitalize on high demand while setting prices closer to your base price to attract bookings for your vacation rental during slower times.

Local market insights

With detailed competitor pricing analysis and market trends, Pricelabs helps you establish competitive rates—even suggesting a recommended price.

Pricelabs Subscription and Pricing

When evaluating a subscription, it’s important to consider the value it provides. Pricelabs offers a cost-effective pricing structure, with notable benefits like free portfolio analytics included for all listings.

Additional features are available at transparent monthly rates like the market dashboard for $9.99 and dynamic pricing for $19.99 per listing. Prospective users can explore both features with a 30-day free trial for one listing — no credit card required.

The subscription is straightforward, with no hidden fees, and can be canceled at any time, making it a flexible and affordable solution for vacation rental owners.

Pricelabs Integration with Hostaway

Pricelabs integrates effortlessly with Hostaway, giving property managers a powerful way to manage pricing while handling other essential tasks — all within one platform.

This integration means that users can update prices, analyze market data and adjust pricing rules directly in the main dashboard, creating a smooth, efficient experience that saves time.

Centralized management

With Pricelabs integrated into Hostaway, you can manage dynamic pricing for all your listings in one place. Adjust pricing rules, track market variations, and plan revenue management strategies without jumping between platforms.

This integration saves time and simplifies your workflow, so you can focus on what really matters — delivering an exceptional guest experience and earning those 5-star reviews.

Unified dashboard

Hostaway’s unified dashboard gives you a complete view of your properties, from revenue trends to occupancy rates, all in one glance. It’s easy to see how each property is doing and make quick decisions without switching between tools or accounts.

Together, Pricelabs and Hostaway provide a smooth, efficient way to handle both pricing and property management, so you can work smarter and achieve better results.

Getting Started with Pricelabs

Ready to see how Pricelabs can enhance your rental business? Getting started is easy and designed to be seamless, even if you’re new to dynamic pricing tools.

Pricelabs offers a free trial to help you get a feel for its features. During this trial period, you can explore how the tool works to improve bookings and revenue management, to decide if it’s the right fit for your business.

The setup process is quick and simple:

• Sign up: Begin by creating an account on Pricelabs’ website.

• Connect your listings: Easily link your property listings, whether you manage one rental or several. Pricelabs integrates with Hostaway and all you have to do is follow the steps in this support article.

• Set your pricing preferences: Choose pricing rules that match your goals — set minimum and maximum rates, occupancy-based discounts, seasonal adjustments and more. These preferences allow Pricelabs to automate pricing in a way that aligns with your strategy.

Once you’re set-up, Pricelabs takes over, analyzing local market data and adjusting rates automatically. You’ll be able to view changes and make adjustments as needed, all from one easy-to-use dashboard.

Pricelabs also provides guidance throughout the setup, so even if you’re new to automated pricing, you’ll feel confident. Their simple tutorials and tips make it easy to understand each feature and get the most out of the platform.

Ready to Boost Your Rental Business?

Managing your rental’s pricing doesn’t have to be a hassle. With Pricelabs’ automation, smart market insights and flexible pricing options, you have everything you need to stay ahead of the competition.

Plus, when paired with Hostaway, Pricelabs makes it easy to handle pricing updates, booking trends and occupancy rates — all from one platform.

So why not let Pricelabs streamline your pricing strategy, attract more bookings and help grow your business?

FAQ

How does Pricelabs handle price fluctuations in extremely volatile markets?

Pricelabs dynamic pricing tool is designed to adapt to rapidly changing conditions using real-time data and frequent updates. In highly volatile markets, the platform's algorithms are able to respond to quick changes by analyzing multiple data points.

However, users can also implement custom rules such as setting a minimum and maximum price and a base price to further fine-tune how prices react to sudden market shifts.

Will using Pricelabs affect my visibility on platforms like Airbnb and Vrbo?

Yes, Pricelabs can positively impact the visibility of your vacation rental, as pricing influences search rankings on booking platforms. By keeping rates competitive and demand-driven, this revenue management tool helps enhance your listing's performance and visibility.

Can Pricelabs be used for properties in rural or less popular markets?

Absolutely. Pricelabs can be effective in both urban and rural markets, though pricing dynamics might differ. For less popular areas, the tool can analyze trends such as seasonal shifts or local events to adjust pricing accordingly.

Is there a way to simulate different pricing strategies in Pricelabs before applying them?

Pricelabs includes a preview feature, which lets users test and view how different pricing rules would affect listings without immediately applying them.

This feature is helpful for experimenting with various strategies, so you can see projected impacts before committing to changes.

Does Pricelabs offer customer support for users unfamiliar with dynamic pricing?

Yes, Pricelabs provides a range of support options, including setup guides, video tutorials and a help center. They also offer direct customer support for specific questions or troubleshooting.

How can I manage multiple properties with unique pricing strategies in Pricelabs?

Pricelabs is designed to handle diverse portfolios, allowing users to create custom rules and pricing strategies for each listing individually. This flexibility makes it easy to manage varied pricing needs without having to maintain separate accounts or profiles for each property.

Are there any legal or regulatory considerations when using dynamic pricing for vacation rentals?

Dynamic pricing is generally legal, but local regulations in some areas may limit how much prices can fluctuate or cap maximum rates during peak periods.

Pricelabs doesn’t automatically account for these restrictions, so it’s up to hosts to ensure compliance.