Vacation Rental Revenue Management Companies
September 23, 2019
One of the challenges of the vacation rental industry is designing a pricing and revenue structure for your properties. Today, the internet has made demand pricing a challenging element of the business. OTAs use dynamic demand to set pricing to reflect changes in the market, update availability, and provide instant booking.
So how do you work to adjust pricing to maximize revenue, increase bookings, and keep your properties competitive in an increasingly crowded market? Revenue management platforms can help. Revenue management is complex and takes your time away from guests and owners. Using dynamic pricing, these data driven platforms can help you to increase revenue, total nights booked, and grow your business.
Here are five of the best for your consideration!
Revenue Pricing Roundup
Dynamic pricing is critical to stay competitive in today’s vacation rental market. As a vacation rental property manager, you spend countless hours adjusting pricing structures to reflect the daily changes in the market. These platforms can automate the process and save countless hours.
- Beyond Pricing
Beyond pricing offers users a dynamic pricing solution that uses real-time market data to ensure their price recommendations maximize revenue and bookings. Beyond Pricing will automatically update your listings daily to reflect changes in supply and demand in your market, including day of the week, seasonality, and any local events. - Rented.com
Rented.com provides property managers the ideal balance between complicated but advanced software and expensive consultants. When you sign up with this service, your company is assigned a team of experienced revenue management professionals. Their team will price your nights for you. Rates are set multiple times each week and they constantly monitor performance. - PriceLabs
PriceLabs offers an intuitive dynamic pricing tool thats easier to use than many platforms. It’s built for managing multiple properties and offers different ways to manage your pricing strategy. It’s extremely customizable so you can design a pricing system that fits into your business plan. Automation rules and customization options make managing dynamic pricing and stay restrictions easy to increase revenues and save you a lot of time in the process! - Rategenie
Used by sites like Booking.com, Expedia, and Airbnb, Rategenie can help you increase revenues by up to 30% by automating and updating rates daily across multiple channels. The process is easy. Simply connect your listing, fine tune your strategy and Rategenie’s algorithm with automate your unit pricing. Manage listing across all channels, gain real-time insights to maximize profits, sync prices to Airbnb and channels automatically and take the guesswork out of pricing your properties. - Wheelhouse
Securely connect your listings from any major channel, set your base price and build a pricing strategy around your company goals. The platform will handle all aspects of your pricing including last-minute discounts and seasonal adjustments to help you increase revenues from 10 to 40%. Prices automatically update every 24 hours to capture real-time true demand. You’ll have total visibility into the health of your listings with insights into both occupancy and earnings to help you make data-driven informed decisions. They offer a free 30 day trial where you keep 100% of the revenue.
Revenue management is a critical component of any successful vacation rental property management company. Here at Xplorie, we’re constantly looking for ways to help our clients more efficiently run their business. In today’s highly competitive and crowded vacation rental market, dynamic pricing is crucial.
These five platforms can help you to keep your properties competitive, occupied, and grow your revenue. They’re customizable, save a considerable amount of time, and provide the real-time data you need to make confident, informed decisions when developing your pricing strategy.
