Optimize your rental rates
with Lodgify Dynamic Pricing
Lodgify Dynamic Pricing works as your personal pricing genius. We analyze market trends and similar listings to automatically update your rates, ensuring they're always competitive.
Your optimal pricing strategy is just one click away
Lodgify Dynamic Pricing is an in-house tool designed specifically with Lodgify users in mind. It's easy to use and can be managed directly from your Lodgify account. Test it out for free with no commitment.
20% revenue increase
Fine-tune your pricing strategy for an average increase of 20% more revenue
Easy to use
Embedded dynamic pricing that can be turned on and off with just one click
Data-driven pricing
Our algorithm factors in 40+ attributes, market conditions, and local trends
Trust in data-backed pricing
Pricing can be tricky. That’s why our sophisticated algorithm factors in 40+ listing attributes, market conditions, and local trends to give you perfectly tailored nightly rate recommendations for your listing.
Our Dynamic Pricing tool creates 18 months of nightly rates backed by the latest industry-leading data. Our algorithm looks at millions of data points that we’ve collected and gained through strategic partnerships with industry-leading experts.
Above all, you have the flexibility to adjust any particular rate to align with your business plan and goals.
Stay in control
Set minimum and maximum pricing parameters to optimize your revenue and ensure that your nightly rates are always aligned to your unique business needs.
Setting a well-defined minimum price will ensure you always cover your operational costs, even during low-demand periods. Maximum prices, while optional, allow your rental to remain competitive even during periods of high demand.
Fine-tune your strategy
While our algorithm takes into account holidays and seasonal trends, you can always adjust your strategy for any particular day with manual overrides. Whether it’s increasing prices during a large local event or decreasing prices to attract more guests, we know that you know your rental best.
This type of hands-on approach guarantees that your property remains responsive to the market and capitalizes on any opportunity to maximize your revenue and occupancy.
Maximize your revenue
Minimum stay lengths are a critical part of any revenue strategy. Restrict check-ins and checkouts during certain times of the week to adapt your strategy for high-demand periods.
As a result, you’ll reduce turnover (and thus operational workload) and maximize your revenue by 20% (on average)!
FAQs about Lodgify's Dynamic Pricing
How are my nightly rates determined?
The Dynamic Pricing tool uses a sophisticated algorithm to provide strategic rates tailored to your specific rental. The algorithm considers various factors about your rentals as well as market trends from multiple data sources when providing your nightly rates, including:
- Bedrooms
- Number of beds
- Amenities
- Location
- Demand
- Seasonality
- Day of the week
- Lead time
- Local events
Is there an additional fee for Dynamic Pricing?
Dynamic Pricing incurs a fee of 0.8% for each confirmed reservation that you get while you have activated the tool.
How can I activate Dynamic Pricing?
You can activate Dynamic Pricing directly from your Lodgify dashboard:
1. Go to your Main Menu in the top left corner and select Settings.
2. In the left navigation panel, click Dynamic Pricing.
3. You will see a list of your completed rentals. Switch the toggle in the last column for each rental you want to use Dynamic Pricing for.
4. A pop-up will appear informing you of the 0.8% Dynamic Pricing fee and which rates settings will become unavailable.
5. Click Activate.
After you activate Dynamic Pricing, the recommended nightly rates will automatically update in your listing’s calendar and connected channels. You can view the prices directly by clicking on View Prices.
Can I deactivate Dynamic Pricing at any point?
Yes, you can deactivate Dynamic Pricing whenever you choose. Deactivation will instantly reset the optimized prices to your previously manually configured prices.
However, considering the many benefits of using data-driven pricing, you may want to consider adjusting specific nightly prices in your calendar or setting minimum and maximum price limits rather than deactivating Dynamic Pricing altogether.
To disable Dynamic Pricing:
1. Go to your Main Menu in the top left corner and select Settings.
2. In the left navigation panel, click Dynamic Pricing.
3. Switch the toggle in the last column for each rental you want to deactivate Dynamic Pricing for.
Do I need to install or connect to any third-party tools?
No, Dynamic Pricing is built directly into your Lodgify dashboard. There's no need for additional tools.
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