PriceLabs
What Is PriceLabs?
PriceLabs is an innovative and easy-to-use revenue management tool for the short-term rental and hospitality industry. With a data-driven approach, automation rules, and customizations to manage pricing and stay restrictions PriceLabs helps short-term vacation rentals and hotels increase revenues and streamline processes, saving hours in the process. With integrations to a growing list of channels and property management systems, automated revenue management is a few clicks away!
Who Uses PriceLabs?
Hotels, Revenue Managers, Property Managers, Vacation Rental Hosts/ Managers of all sizes (1 to 500 listings); Short term rental companies
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Reviews of PriceLabs
Chris
An easy way to gain detailed insight and control over your Airbnb pricing strategy
Comments: It's a good product. I wouldn't run my Airbnb listing without having PriceLabs bolted on the side.
Pros:
PriceLabs is very comprehensive with regards to the information you can derive from the system and the granularity of control it offers to users. I use it to manage a single Airbnb property - however, it looks very well organised in terms of its capabilities to handle multiple properties and sales channels (other than Airbnb). Very easy integration with Airbnb - seemless, smooth, just works!
Cons:
I can't think of anything that's a strong 'not to like'. The point that is interesting is that it draws to your attention just how much you do have to think through your pricing - so there's a chance that all the options could appear overwhelming - but that's not being critical of the software, it's just making it clear how much control you have (and should learn to use).
Renata
Alternatives Considered:
you can start from scratch in 0 time
Comments: I like to grow up in my expertise with them, you can use the software at any level and you can grow up little by little with an easy tool, and powerful at the same time. the enthusiasm of the team is contagious, it makes your job successful
Pros:
it works even without any specific knowledge, easy to set up at the very beginning. Once you get acquainted with the environment there is room to customize on your requirements. the support team is working on your side and the spread of knowledge through monthly seminars is worthwhile and precious. with Pricelab I succeeded in winning during a recent crisis, it is something I warmly recommend to anyone
Cons:
short-term rental marketplace lacks data, at least this specific area suffers from hidden businesses. this is the main reason why I would like the comparison with booking dot com. i am confident it will be available in the next future. This software is evolving and getting better month after month! Some competitors speak about AI-driven data, but this topic was never discussed by Lodgify
PriceLabs Response
3 weeks ago
Hi Renata, Thank you for taking the time to leave us this detailed review. We are so happy to hear that our platform, and customisations have been intuitive and easy-to-use and set up, and, especially that we've helped you win during a recent crisis! Thank you for acknowledging the efficiency of our support team, and the value you've been getting from our webinars. If there's anything you feel we need to add, change or improve please drop us a line! With regards our Market Dashboard data, we have been working on having booking.com data up there soon. We need to build at least a year of historical data, before we can start sharing with our customers, but, yes, soon! Thank you once again for your trust and for choosing PriceLabs. Warm regards, Richie Khandelwal
Nancy
Too complicated.
Comments: It has been frustrating. I would like a better orientation on the product.
Pros:
They make price changes daily, which puts me higher on the search engine. They change pricing by current demand. We are able to select similar listings to be our comparable base.
Cons:
It is too complicated. The graphs try to present too much information on the same graph.
PriceLabs Response
2 months ago
Dear Nancy, We're sorry to hear that you've had a less than pleasant experience using PriceLabs. We admit that our functionality, customisations and data can be overwhelming. Please reach out to your account manager or [email protected] and we'd be happy to take your through the functionalities that are causing stress and answer any questions that you might have. Thank you for taking the time to share your experience. We hope we'll be able to connect over call and help alleviate some of your stress with regards using the product. It will also give us a chance to understand your discomfort and use your feedback to see what changes we can make to our product and its functionalities. Thank you, Richie
Mark
Alternatives Considered:
Worth every penny
Comments: I've used pricelabs since I had 4 properties to manage, and now we have 100 in our portfolio. It's seamless, and does ALL the work for you. I can't say enough about how valuable this software is, and how crucial it is to maximizing occupancy.
Pros:
Fully automates the process of adjusting pricing, this increasing occupancy and maximizing revenue.
Cons:
Not intuitive, but things this powerful rarely are.
PriceLabs Response
2 months ago
Hi Mark, Thank you for taking the time to review us. We're thrilled to hear that PriceLabs has been with you for on your journey from 4 to a 100 properties! Our mission has always been focused on delivering value and helping our customers reach their goals - to boost occupancy at the best prices and save time while doing it, and we're glad that we've been able to help you in this regard. Thank you for bringing to our attention that our tool may not be as intuitive as we aim for it to be. We would like to understand more about your experience and how we can improve the usability of our tool. We request you to reach out to our support team via email at [email protected] or schedule a call with us, so that we may use your feedback to improve our user experience. We value your input and look forward to hearing from you soon. Thank you once again for choosing PriceLabs. Warm regards, Richie
Caroline
Only for Price changes
Comments: As I used Pricelabs to manage more than 1000 apartments at the same time, it was very good with the possibility of grouping room types in the same price category, but the lack of other tools is very noticeable and hindered the analyzes and controls, which needed other complementary systems.
Pros:
The possibility of creating different levels of increase or decrease in price, based on the user's free decision, is very interesting when you want to price differently for each occupancy level. Also it's nice to have possibility of grouping room types in the same price category.
Cons:
I think the system is very simple, with no possibility of applying strategies such as minimum nights, entry and exit restrictions, discounts according to the number of guests, etc. This makes Revenue management very difficult, which needs to be complemented by other tools. Also, there are no suggestions or market research within the platform. All price optimization is based on the user's own management and choice, and we don't have historical reports or price changes, which makes it difficult to control.
PriceLabs Response
2 months ago
Hi Caroline, Thank you for your review. We're glad you found several features, particularly groups, powerful. However, some of the features and customisations that you mentioned as lacking, - such as minimum nights, check-in/out restrictions, and occupancy-based discounts, are features present in the product and are widely used by our customers. We find it surprising that these features were not used or apparent, and thus a lesson for our team to make these evident during our training sessions. We offer full pricing automation and the ability for users to pick their desired level of control. With all the features we offer it can sometimes be a challenge to narrow down the desired set. We'd love to show you these features and how you can get the best out of PriceLabs. Please contact our team and we'd be happy to run you through a personalised demo Thank you, Richie Khandelwal, Co-founder - PriceLabs
