Over the last couple of weeks, we at PriceLabs have been extremely busy. Some days we have worked like this..
… and it’s extremely satisfying to hear feedback from you! We have improved our algorithm over the last month and have added new features based on your feedback.
We are excited to announce 2 new features: local data, and calendar view
For pricing, we curate data for your neighborhood, some of you asked if you could see this data.
So now when you go on the pricing graph and hover over a certain date, you’ll see information on demand forecast and neighborhood occupancy.
Demand forecast: This indicates if people are looking for accommodation in your neighborhood on those days. For showing it on the graph, we have taken this data and split it into 4 big buckets: low, normal, good and strong. On a strong day, prices should be typically higher, while on a low day, prices should typically be lower.
Note that sometimes price for a low demand day could be higher than a good demand day, particularly if low demand day is a few days out and we are waiting to see if the demand changes.
Neighborhood occupancy: This is a set of Airbnb listings in your neighborhood similar to your listing that compete with you for business. Here you can see the % of those listings that have been booked on a given day. Once again a date with high occupancy means that there is higher chance that next booking would come to your Airbnb inbox, thus you’d see a higher price.
Now, there are scores of other factors that go into the price we calculate but we hope that this information will help you in understanding why some days are priced higher than others.
Along with showing you the recommended pricing on a graph, we have now added a calendar view. So when you click on the ‘Recommended and Custom Pricing Calendar’ tab, you can see our recommended price on the calendar. If you hover over, a certain price you’ll see a popup with the local data.
You can still use this calendar to set custom prices for certain dates. Simply, drag your cursor to select the dates, fill the price in the pop-up and hit save. We will not update prices on these days but’ll continue to update the remaining days. An example of why hosts asked for this is: “I have some friends visiting town, so unless I get $200 for the listing I would have my friends stay at the house rather than bunking with me.”
We hope you’ll enjoy these new features!
If you have a question, story or feedback for us, send a mail to email@example.com. We love hearing from you.