![]() In 2018, Evolve Vacation Rental purchased Everbooked and brought their dynamic pricing platform in-house. We’ve seen examples of property managers acquiring dynamic pricing providers and making them a part of their business to be able to take full advantage of their solutions. Others, who don’t have a large enough tech team or simply choose to focus their efforts elsewhere, use external tools integrated into their main software. Some property managers choose to build their own pricing and revenue management solutions in-house. ![]() In fact, 25% of property managers with 1-99 rentals use pricing and yield management tools, only a trifle less than property managers with more than 100 units (32%). And using sophisticated tech solutions to take care of your pricing and revenue management is no exception.Īccording to the Short-Term Rental Tech Report 2020, one-third of all property managers use some kind of yield management or dynamic pricing software.Īnd it’s not just the biggest players. In the vacation rental industry, technology gives you a competitive edge. Others use external tools integrated into their main software. Some property managers build their own pricing solutions in-house. How the world’s most successful property managers use dynamic pricing The more competitive your prices are, the more likely it is that someone will book your rental. Implementing automatic pricing based on real-time market data is also a great way to avoid low occupancy rates. Leading dynamic pricing providers claim that their data-driven solution can increase your revenue by as much as 40%. Using dynamic pricing software to adjust your rates can significantly boost your revenue. Think of it this way: dynamic pricing is a response to dynamic demand. This data-driven approach takes into account multiple factors that help to determine the perfect pricing for your vacation rental, analysing your competition as well as real-time demand, occupancy, performance, etc. The price adjustments are automatically generated by algorithms that leverage machine learning to understand fluctuations in supply and demand. Dynamic pricing is a response to dynamic demand.ĭynamic pricing solutions allow you to optimise your rental’s performance by frequently adjusting your nightly or weekly rate based on real-time market data.
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