PriceLabs Review and More

PriceLabs is a revenue management solution that combines human control with best in class automation and market data to maximize revenue. We bring a data-driven approach, automation rules, and extensive customizations to manage pricing and minimum-stay restrictions for larger portfolios in bulk, to help property managers increase revenues and save hours in the process.

What is PriceLabs?

PriceLabs is a creative and easy-to-use sales control platform for the holiday and short-term rental industry. Data-driven strategy, automation rules, and customizations to handle price and stay constraints help holiday rentals boost sales and save them hours in the process. Integrations to a growing list of platforms and property management programs, combined with sales management, is only a few clicks away!

To help short-term rental and vacation property operators monitor pricing, PriceLabs offers data-driven dynamic pricing suggestions based on future supply and demand projections, historical data, industry dynamics, holidays, and more. PriceLabs automatically scans data from rivals to gain insight into industry dynamics and demand and provides data based on this information. Suppose consumers do not comply with or wish to circumvent price recommendations. In that case, it is possible to configure rates with complete control over the minimum and maximum charges, minimum and full stay rules, event or seasonal pricing, and more.

In order to ensure that listing prices are both correct and up-to-date, PriceLabs interacts with numerous property management systems ( PMS) such as BookingSync, Airbnb, and Vreasy to enable continuous price synchronization. PriceLabs helps companies to achieve an analysis of their portfolio results with a personalized insights panel that offers information on performance listings, bookings, sales, average booking rates, and other property details.

PriceLabs Features

• Dynamic prices

• Totally automatic sales processing

• Directed workflow

• Community pricing & appraisal

• Dashboard Analytics

• Control of Multi-Property

• Automatic room-Type price

• 365-Day Forward Rates

• Competitive Price Hierarchy Management

• Real-time price optimization

The PriceLabs Review: The Pros and Cons

The following reviews are statements coming from diverse business owners and hosts in the hospitality industry. They expressed the points that made them love and stick with PriceLabs despite some downside areas.

Customer-Focused!

Pros
This product has become useful! With almost two years of working together, it has yet to surprise at all. The team at PriceLabs is so involved that they are always ready to lend a hand and suggest solutions to your problems. I highly recommend this!
Cons
It would be inappropriate to mention the disadvantages of this service. It’s user-friendly and comes with incredible support in the form of a fantastic team. A multi-calendar view would be fantastic if that were possible.

Awesome tool

Once you understand the app, it’s a fantastic tool to use. Cuts down on the hours and hours of manually comparing the rates and ensuring that we are adoringly placed against the rivals. However, to begin using the SW tool, it would be nice to have a PriceLabs staff or personnel know your concerns and help you set your initial stage and explain how the SW “reads” your inputs to produce outputs.
Pros
It’s very flexible to tailor to our hards content/location specifics about the city’s planned occupation and “actual” information on the field already booked for each day in the future. It’s obvious to see how good we’re doing in the future in percent. The time period is also flexible, so we choose seven days, 30 days, and 90 days to make it easy to see if we are OVER selling (too cheap) our UNDER selling (too expensive). Integration with our PMS was also relatively easy.
Cons
The color scheme of details shown (cold bulb used for higher occupancy). Base percentage history is not the actual worth of our apartment this year versus last month or the city market. It’s an estimation of what we’ve got versus the improvements we’ve made. But none of this depicts reality.

Both short-term rental operators require dynamic pricing.

The prices dynamically dependent on the personalized rule system and historical details, which are not perfect and can be frustratingly sluggish when attempting to make manual changes.
Pros
Uses historical data to set prices for short-term rental properties. It’s a service that saves a lot of time during regular hours and maximizes profits. It has a lot of rules that allow you to heavily modify pricing depending on the day of the week, days in the future, and seasonality.
Cons
It does not synchronize prices explicitly with VRBO, which is one of the biggest rental portals. The system is sluggish to change pricing manually. Syncing is limited to once every five minutes.

Thank You PriceLabs

Pros
I’m a busy person, and I’m in-charged of overseeing four independent companies. The great tools from Analytics to Industry Dashboards, where I can match Future Looking, LOS, and Lead Time, services and policies and fees from my competitors at a glance, are crucial to a profitable vacation rental company, and PriceLabs has it all, plus.
Cons
The three separate menu lists at the top of the software are dynamic rates, industry dashboards, and accounts. It looks clumsy to me. Why don’t you place them all in one menu choice, right?

Best program to price holiday rentals!

It helps me save time in manually adjusting rates and availability. It is one of my favorite vacation rental app collections.
Pros
• Rates are well-tailored depending on demand, and it is apparent that costs for festival days, etc. can be higher. The app changes for certain events-some of which I don’t even realize are going on • Makes min and max rates and has a ton of market customization available • One of the best features is the ability to configure both customizable availability and pricing. I may set a minimum of 2 nights for the near future, but then a minimum of 30 days farther out if I’d instead find a longer-term visitor. • Orphan day availability is fantastic – here, I can only make a one night stay if it’s in between other bookings, and the app automates all of this where I used to have to do it manually. • The app drives pricing and availability to AirBnB and even to my channel manager Lodgify, which is fantastic as Lodgify will go to VRBO and Booking.com. • I appreciate that I don’t have to pay for a month if I don’t need to synchronize property pricing (it works well because I have business visitors staying for many months)
Cons
• The price is a little more than what I would pay for on a new machine I tried, but the features made it worthwhile.

Huge Time Saver and Increase profits

It’s been an outstanding experience, and I’ve used a competing method in the past. Pricelabs is much smarter and has a more in-depth feature set than the other major player in this room.
Pros
When I ultimately learned how to use this device, it saved me a lot of time and versatility. I love how extreme price caps can be if you’re trying to be super granular.
Cons
There have been a few non-critical glitches that have mainly only created uncertainty. But despite the minor bugs, the device seems to work. It’s also a very dynamic and, therefore, challenging mechanism to learn. It needs some time and focuses on understanding how something goes together and how to make it dance to the melody you want it to dance to.

Great software

The overall platform is fair, but the customer service is excellent. They appreciate what hospitality businesses are going through with COVID, and they’re helping us all the way. Thank you, guys! You’re great.
Pros
Simple to use and to learn. Often enhance and incorporate valuable elements.
Cons
Wouldn’t mind a few more basic functions.

Top revenue management tool

Pricelabs have had a tremendous effect on our sales. With this method, our reservations increased by more than 30%. Support is fantastic. Still available, even at the weekend
Pros
Good for day-to-day pricing changes on channels Extremely efficient price control Fast synchronization with channel manager
Cons
The complicated setup of automated upgrade costumes is something worth tweaking. The three set up stages that are not easy to grasp.

Maximizing income easily

Pricelabs have evolved from being a decent simple software kit five years ago to the vital center of our price and running our business.

Pros
I love the versatility and feedback on how best to optimize our pricing and increase our profits. Visual red/orange/green indicators, at a glance, enable us to change our base price in line with market patterns. Besides, I can adapt our rates to the local spikes on sale. Using the app for almost five years now, I appreciate how new features are being created and introduced.
Cons
PriceLabs is not the cheapest on the market, but its versatility justifies the premium.

Best pricing software

PriceLabs is much better at setting prices for my vacation rental than the listing software’s pricing tips, which are frequently inadequate. Although it took some research and analysis to learn how to set up my listing, there wasn’t any need to watch once it was set up. My salary has improved, and my workload has reduced. Customer service is very timely and straightforward. It’s certainly worth the expense.
Pros 
Using PriceLabs has dramatically improved my revenue from my holiday rental house. Even though it’s complicated, once you understand all the possibilities and have it set up, it’s pretty much working on its own, and you need to keep an eye on it, not a hard lifting.
Cons
Though my income improved dramatically, my rates kept increasing (I was heavily booked) and finally got to the point where my guests began giving me 4s in value. I didn’t set the highest allowed price because I didn’t think that was going to happen. Once I put the maximum price, I kept getting worth dinged.

The most robust pricing software

The PriceLabs team is exceptionally swift to offer professional service if there are questions or problems. They’re based on the end-user.
Pros
Pricelabs offers a lot of customizations to help refine pricing techniques to suit my company needs. It also makes it easier to control prices on a scale, manage several property rules in a straightforward dashboard. Put merely, Pricelabs is helping me make more profits.
Cons
I don’t have any issues with this product.

PricLab the best support and algorithm

Pros
I enjoy being able to monitor several listings at one time using the PriceLabs app. It’s so easy to use because it has so many different options to handle the pricing policy. It is the perfect tool for businesses running or managing several listings. Their connectivity with other pages and apps is easy to connect to. The cost of using the price laboratories is fair and affordable. I strongly advocate that prices be chosen above some other pricing options.
Cons
I also enjoy the use of PriceLabs. If they had to change something, the architecture of the user interface would be changed. But the usefulness is there, so it doesn’t really affect our business a lot.

Excellent pricing tool

Pros
Fantastic product and excellent service. Compared to other pricing methods I’ve experimented with PriceLabs, they recommend even more dynamic rates. Some ways recommend very flat prices. You may also make use of gap availabilities by automatically reducing the minimum gap stay requirements. Help people are speedy to react to you comprehensively. It’s hard to imagine there are people like this in the country, but there are!
Cons 
It’s all fine. You can’t write anything wrong about this commodity. However, please note that we are delegating one of the most critical facets of our business, pricing. But please keep working to make your tool even better.

Solid

Automatic daily updates to all my listings that assist with the Channel SEO marketplace. Also, more optimized revenue capture.
Pros 
Best of all, PriceLabs combines with the other different applications for my Holiday Rental Booking Manager program. The price point is fantastic, too.
Cons
The most extensive local activities are underrates. But it’s easy to travel over here, so it’s not that big a deal. It does not appear to take into account weekly and monthly stay costs or discounts. PriceLabs does a decent job with the philosophy of nightly rate pricing. However, it is more reasonable to measure a multiple night fee for short term and holiday rentals. Overall, PriceLabs is impressive, though I realize it’s not an easy feat to do what PriceLabs is doing.

CONCLUSION

Booked vs. blocked future days – It’s also better to see if a future grayed out day is being blocked or reserved rather than logging in to Airbnb for this information.PriceLabs is a great app. It’s easy to learn, yet; it will take time to unlock more of its benefits. But overall, it is still an excellent system for those in the hospitality business, more specifically Airbnb hosts and property owners.

Whilst for areas to improve on:

  • PriceLabs Analysis – Changes proposed.
  • Speed up load times between notifications and calendars inside PriceLabs.
  • Show Previous Days Activity – In the individual calendar listings, the past days are grayed out.’ Save/Refresh’ Loading Stall – Anytime you adjust something to the calendar and press ‘Save/Refresh,’ there is a loading wait. It’s just been a few seconds, so you can sum up if you have 30 + listings. The ‘Sync Now’ icon doesn’t do that.
  • ‘Review Prices’ Dashboard Fenster Change – If you have more than ~12 listings on your server, it will take up the whole screen on a regular laptop and scroll down to the listing calendar each time you check on it.
  • Show the occupancy rate in the calendar display – you have to keep scrolling up to see the occupancy rate for a specific listing when looking at the calendar.
  • Assign color values to occupancy – assigning color values to occupancy rates on the main dashboard would be more convenient instead of keeping to current device options.
  • Average Daily Rate Comparison – ADR is a hotel-industry statistic. Still, it shows you precisely how you do it by taking into account the prices you booked at and the unbooked days in a given month.
  • Booked vs. blocked future days – It’s also better to see if a future grayed out day is being blocked or reserved rather than logging in to Airbnb for this information.

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