New PriceLabs and MiniHotel Partnership will Allow Accommodation Owners to Increase Revenue
Published by MiniHotel
April 21, 2022, 19:00 GMT
We are partnering with PriceLabs, an easy-to-use revenue management solution for small accommodation owners. Its flexible solution works, just like MiniHotel, for a range of accommodation types, from a small hotel, guesthouse, bed and breakfast, vacation rental to camping.
This integration allows small accommodation owners access to the advanced tech features and capabilities usually reserved for large companies – comprehensive management capabilities of MiniHotel along with intelligence, automation, and data from PriceLabs.
“We are excited to join hands with MiniHotel to provide access to data-backed pricing recommendations to the small accommodation owners. Using PriceLabs, Owners can use a combination of our automated rates algorithm and advanced rule sets to optimize the final pricing and stay restrictions. Through this partnership, we will be able to fulfill MiniHotel’s and PriceLabs’ combined mission of providing users a seamless experience to elevate their business.”, said Richie Khandelwal, Co-Founder of PriceLabs.
“We’re thrilled to collaborate with PriceLabs, enhancing our marketplace of unique integrations. Our 900+ clients worldwide now have another useful tool to help them enhance profitability, and automate their everyday operations.”, said Yuval Shtokhamer, COO and Co-Founder of MiniHotel.
Why is Dynamic Pricing Important?
The opportunities are immense in the small accommodations space. However, having a solid revenue strategy is the key to ensuring that your property is profitable.
Dynamic pricing automatically adjusts your pricing, considering market factors, such as seasonality, events, etc., and your property’s performance. As a result, you can increase your revenue by charging more during peak demand periods.
PriceLabs tracks hotel and alternative accommodation data from around the globe to identify trends in bookings, which are then used to generate prices for every day of the year based on what is happening locally and with your properties. With PriceLabs, you can create your pricing strategy and implement it on top of intelligence using various customizations.
PriceLabs is a comprehensive revenue management tool for small accommodations and hotels. Founded in 2014, PriceLabs has priced over 100,000 units in 95+ countries globally.
Their most prominent product is the Dynamic Pricing tool, which analyzes historical and current booking data to generate pricing recommendations every 24 hours based on market supply and demand, seasonal and day-of-week trends, special events and holiday predictions, and the number of days left to book. You can also adjust it as per your requirement using the multiple customizations they offer so that you have complete control over your pricing strategy.
PriceLabs also offers two more products to help you understand the market trends better and keep track of your listing performance:
- Market Dashboards: Fully-automated personalized dashboards that can help you track your area’s Airbnb and VRBO data through easy-to-digest graphs and insights.
- Portfolio Analytics: A real-time reporting system shows important KPIs and unit-level performance data. You can use it to get a high-level overview of how things are going, build your revenue strategy, identify underperforming listings and compare your listings against the market.
MiniHotel and PriceLabs Integration
Using MiniHotel with PriceLabs, small accommodation owners can automate their pricing strategy, set custom booking rules and stay restrictions, and get ahead of the competition by using market data. This helps property managers increase revenues and save hours in the process.
All-In-One PMS and Channel Manager by MiniHotel, along with the PriceLabs’ automation abilities, helps our users build robust pricing strategies and stay ahead of the curve by focusing on things that matter.