How does Yielding work?
Professional yielding is an essential part of our success formula which is why we included our Pricelabs integration in our service fees.
Why we chose to integrate with Pricelabs
Pricelabs is our preferred yielding partner. We have chosen them over a range of competitors since they are able to apply their yielding algorithms to any market anywhere in the world.
Additionally we are able to customize the algorithm based on your specific needs which is very important for some accommodations.
We do have a possibility for using other yielding programs as well, however, they are not included in our pricing and not totally integrated with our systems. One other possibility is BeyondPricing which charges 1% on your revenue.
Increases and decreases are based on actual market fluctuations
As your cities demand fluctuates up and down Pricelabs detects this and pro-actively changes your prices for optimum results. This happens automatically every 24 hours making sure you never undersell or oversell your property.
Which channels are being yielded?
We have been able to integrate dynamic pricing for the following booking sites:
To this list we are soon adding more channels however with these channels you got more than enough sites covered for having awesome results:
Villas.com, Booking.com, Airbnb.com, 9flats.com, Expedia.com, Hotels.com, Travelocity, Trivago, Egencia, Orbitz, WotIf, Venere, Hotwire, AirAsiaGo, Budgetplaces.com, Hostelworld, Hostelbookers.com, Hostels.com, Agoda.com, Tripadvisor, Housetrip, Flipkey, HolidayLettings, HomeAway.com, VRBO, VacationRentals.com, Homelidays, OwnersDirect, Abritel, FeWo Direkt, Toprural, Bookabach, Stayz, Travelmob and alugue.
How is my properties Base Price determined?
Every property has a pricing sweet spot, we determine this by constantly increasing or decreasing the base price of your property.
Reasons to increase your properties base price:
- Too many bookings more than 2 or 3 weeks into the future
- Consistent 5-star reviews on more and more sites
- Improvement of pictures or renovation
- When added to Agoda or other strong business traffic sites.
Reasons to decrease your properties base price:
- Not enough bookings during the next 2 weeks
- Too many negative reviews
- Lack of strong presence on the sites
Based on your base price Pricelabs will automatically go up and down every 24 hours after scanning the actual market situation.
Can I change the algorithm?
YES! This was very important for us as well.
Sometimes there are property managers that prefer not to go below a certain minimum (not advised) or really do not want to go above a certain maximum.
Also, there are property managers that simply want to go as low as possible during low demand days or really high during high demand days.
In case you have some great ideas. We can have this programmed for you. Some examples:
- 7 Days before arrival. Sunday through Wednesday. Go to the minimum.
- 90 Days before arrival. All days. Go to maximum or 175% increase.
- 14 Days before arrival. Lower weekends by 20%
- If 2 nights stuck between bookings. Go down to the minimum.
What are the limitations of the Pricelabs integration?
We chose Pricelabs since there are minimum limitations however like any system and site there, of course, are some things that are simply not possible.
Here's a (short) list of some limitations we ran into so far:
- The base price is increased/lowered by your team manually based on actual performance
*As per September 2016 our yielding integration with Tripadvisor is fully functional.