A dynamic market calls for a dynamic pricing strategy, and with the launch of Lodgify Dynamic Pricing, it’s easier than ever to keep your rates competitive and stay booked year-round.
Lodgify Dynamic Pricing is our all-in-one solution for data-driven pricing that adjusts rates automatically to keep you competitive and booked all year.
Here’s why we’re excited about our in-house, user-friendly pricing solution and how to take advantage of its benefits to fine-tune your pricing strategy for an average increase of 20% more revenue.
How Dynamic Pricing works
Lodgify Dynamic Pricing uses a sophisticated algorithm that considers 40+ listing attributes, like bedrooms, bathrooms, number of guests, amenities, and location, to create a comparable set of listings for accurate pricing.
It also considers your historical booking data to learn from your rental’s past performance and make informed predictions about future rates. However, it’s anchored by your base price to ensure our recommendations don’t deviate too far from your expectations.
Maximize profit while minimizing effort
Lodgify Dynamic Pricing is easy to use and seamlessly integrated into your Lodgify interface, eliminating the need for multiple subscriptions and making it easier than ever to manage your vacation rental business.
With automatic rate updates in line with market trends, Dynamic Pricing ensures your listings stay competitive without any extra effort on your part. This leaves you free to focus on what truly matters (growing your business) while our smart algorithm handles the complexities of pricing strategy.
Backed by 10 years of data
Dynamic Pricing is backed by millions of listings, over ten years of history, and multiple OTAs to create 18 months of nightly rates.
By sourcing information from various (and varied) points, including strategic partnerships with industry-leading experts, we aim to give you the confidence to optimize your pricing strategy, knowing that it’s informed by comprehensive, reliable data.
You’re still in control
While Dynamic Pricing is here to help you optimize your pricing strategy, you still have complete control and can manually override any suggestions, enabling you to fine-tune your pricing to align perfectly with your business strategy.
For instance, you can set maximum rates to ensure your prices never exceed the market standard, keeping your vacation rental rates competitive at all times.
How much does Dynamic Pricing cost?
We’re confident in the ability of our tool to deliver results. That’s why our fees are commission-based: you only pay when our pricing strategy successfully converts a guest.
You’ll pay a mere 0.8% of the booking amount—a fair pricing strategy that grows as you do and ensures you’re not paying a year-round flat fee during low seasons.
Connect Dynamic Pricing today
Experience the power of Lodgify Dynamic Pricing and see how it can help boost your revenue. Here’s how to try it out:
- Go to Dynamic Pricing: Find it in your rental settings.
- Turn it on: Switch on Dynamic Pricing for the rentals of your choice.
- Confirm: Review the activation terms and confirm activation. Your rates will automatically update across all connected calendars and channels.
Your optimal pricing strategy is just a click away with Lodgify Dynamic Pricing. Learn more about the feature here.
