Pass The Keys: +37% Nights & +28% Revenue via PriceLabs

Executive Summary

Pass The Keys is one of the UK’s short-term rental property management companies, running professionally managed Airbnb and short-let portfolios for property owners. After syncing their London portfolio with PriceLabs for dynamic pricing, the team saw their key metrics step-change versus the same period the year before.

+36% Revenue per listing(Post-PL vs Pre-PL) | +42% Booked nights per listing(Post-PL vs Pre-PL)

And crucially — because PTK’s portfolio was already outperforming the same period last year before joining PriceLabs (by ~5% on booked nights and ~8% on revenue) — the team isolated the like-for-like uplift attributable to PriceLabs:

+37% Like-for-like booked nights uplift | +28% Like-for-like revenue uplift

That second number is the one most operators should pay attention to. It strips out PTK’s pre-existing momentum and shows what dynamic pricing alone delivered, layered on top of an already strong operation.

About Pass The Keys

Pass The Keys is a UK-headquartered short-term rental property management company that operates an Airbnb and short-let management service for property owners, with a presence across multiple UK cities.

The Challenge: Pricing Across a Large Multi-Listing Portfolio

Running short-let inventory at the scale Pass The Keys operates introduces a pricing problem that single-property hosts don’t face: every listing needs its own pricing logic, responsive to its own micro-market, but the team running it can’t manually re-price each one every day.

PriceLabs’ review identified two patterns the portfolio was carrying before optimization:

Base prices drifting above the market median. About a quarter of listings were priced above the local median by ~22%, forcing reliance on Demand-Sensitive Overrides (DSOs) to bring rates back down to bookable levels — a less efficient way to align with the market than setting base prices correctly in the first place.

Underutilized peak periods. Both the portfolio and the London market showed ~80% occupancy potential in peak periods with longer ~40-day booking windows, but Occupancy-Based Adjustments (OBAs) weren’t tuned aggressively enough to capture the demand efficiently.

How Pass The Keys Uses PriceLabs

The review identified four PriceLabs capabilities the team is actively using to drive the portfolio:

Base Price percentile alignment

Setting base prices to align with the local market’s 50th percentile — reducing reliance on downstream overrides and putting rates closer to bookable levels at the source. The recommendation in the 24 Nov review was to tighten this alignment for the subset of listings still drifting above median.

Listing name: 45D Gunter Grove, Sw10

Demand-Sensitive Overrides (DSOs)

Used to nudge prices in response to demand signals. The review’s broader point: DSOs work best as a fine-tune layer, not as the primary mechanism for bringing overpriced listings back to market — something the team is now systematically addressing.

Occupancy-Based Adjustments (OBAs) for peak periods

The portfolio is now optimizing OBAs to target higher occupancy in peak months — setting aggressive or custom adjustments to push toward ~90% occupancy in the 0–15 day window and ~40–50% in the 30–60 day window, matching the natural booking window of the London peak.

Market Name: London

Neighborhood Data and Portfolio Analytics

PriceLabs’ Neighborhood Data gives the team a real-time view of market occupancy and pricing across London, listing-by-listing. Portfolio Analytics is the layer that exposed the Pre-PL vs Post-PL comparison — and the like-for-like outperformance — that anchors the results in this case study.

Results

Pass The Keys’ portfolio was tracked across the same calendar window pre- and post-PriceLabs adoption, with the period the prior year used as a reference. The numbers below are sourced directly from PriceLabs Portfolio Analytics for the team’s portfolio.

Headline performance — Post-PL vs Pre-PL

+42% Booked nights per listing | +36% Revenue per listing

Pre-PL versus Post-PL Performance Analysis

Across 34 like-for-like listings, the post-PriceLabs period delivered 2,691 booked nights and £459,470 in revenue, compared to 1,892 booked nights and £337,822 over the same window before adopting PriceLabs.

Like-for-like uplift — the cleaner read

Here’s the part that matters for credibility: PTK’s portfolio was already outperforming the same period the prior year before PriceLabs entered the picture — by ~5% on booked nights and ~8% on revenue. Stripping out that existing momentum isolates the actual contribution of dynamic pricing:

+37% Like-for-like booked nights uplift | +28% Like-for-like revenue uplift

In other words, even after accounting for the fact that PTK was running a better operation in 2025 than in 2024, dynamic pricing alone added 28 percentage points of revenue and 37 percentage points of booked nights per listing on top of that.

Versus market

PTK’s like-for-like listings outperformed the London market on occupancy by ~1 percentage point across the analysis window (with two months — August and September — showing softer performance, driven by a number of newly onboarded listings still ramping up).

Sources

Portfolio performance figures sourced from PriceLabs Portfolio Analytics for Pass The Keys (account 15067), reviewed 24 November 2025. Period: Post-PL vs Pre-PL with prior-year reference window.