Greetings for the New Year from the PriceLabs team!
We’re excited about 2022 and what it has in store. This year, our focus will be to drive better business outcomes for you by enriching our algorithms, adding new features, and improving how we support you.
But before fully diving into 2022, we couldn’t help but look back at all that we worked on last year!
2021 was an exciting year for the vacation rental industry, with Airbnb and other vacation rental players’ IPOs. Whether it was for good or bad is up for debate, but one thing is sure that the world took notice.
A lot more travelers are finding comfort in staying at vacation rentals than ever before. To keep up with these new trends, we at PriceLabs made regular enhancements to our product and how we support you.
Here is a quick rewind of the year that went by.
We Got a Makeover
This was long due and a massive undertaking! But we finally got around to building a sleeker and better-looking PriceLabs. We’ll continue to make a lot more investments in 2022 around improving your experience.
We Added a Lot of New Integrations
We integrate with 60+ PMS today! To make PriceLabs accessible to everyone, we added quite a few integrations in 2021 and also opened up our Dynamic Pricing API.
Now, any property management system or a PM with custom PMS can directly connect with us. In fact, in 2021, six PMSs connected to PriceLabs using the self-serve API, and we have a few more in store in 2022.
We Regularly Updated Our Product
In 2021, we pushed product updates almost every other week, ranging from minor enhancements to major releases.
Here is a quick roundup of some of the major updates:
- Vrbo integration: We started the year with great news. In March, we announced our most awaited integration with Vrbo to send rates directly using PriceLabs. (Read more)
- Base Price Help: In June, we rolled out our Base Price Help to help you set a base price based on how similar listings in your market are priced. We are also continuing to add ongoing intelligence around base price. (Read more)
- Timed and multiple syncs: If you manage a large portfolio, then sometimes, you might have wished to refresh your rates multiple times a day. We introduced the capability to choose the time you want to sync and an add-on to auto-refresh your prices up to three times a day. (Read more)
- Hotel data: We track prices for the ten hotels closest to your location. Under Neighborhood Data, we now show a chart with room rates for the 10 closest hotels to your property.
- Vrbo data: We added Vrbo data to Dynamic Pricing and Market Dashboards. (Read more about how Vrbo data works with Dynamic Pricing)
- Comparative set (Market Dashboards): We added the ability to create custom comp sets in Market Dashboards, using which you can understand trends of properties similar to your property. There are a lot of filters that we added here, including Host ID, which can help you identify property managers. (Read more)
- Comparative set (Dynamic Pricing): Sometimes, it’s important to track what other properties are doing. We made this easier by
(1) allowing you to directly go to the Airbnb page of the listing that you’re being compared to (Read more), and,
(2) adding an ability to help you keep track of the prices of up to 10 competitors of your choice in the Neighborhood Data section. (Read more)
- Historical data (Market Dashboards): We extended the timeframe for historical data. Now you can see up to 15 months of historic data in the market history section.
- Better analytics: We made a lot of improvements to how a professional revenue manager can review their performance. See this video to understand how Portfolio Analytics works.
We Improved our Customer Experience
We focused on improving our customer experience so that we can be there for you whenever you need us.
And our efforts started paying off!
To support you better, we doubled our team!
To manage the increasing volume of interested customers and serve our existing customers in the best way possible, we grew our team a good deal. We could not have done it without everyone in the team giving their best and going the extra mile.
What a year it was!
Only six days into the new year, and we are already excited to make this year even more eventful.
Here are some resources to help you slide into the new year and manage the holidays with ease:
Did we miss your favorite update? Learn more about all our past year’s updates, visit our product updates repository.