The new integration is designed to give independent and small rental businesses total control over their pricing strategies, with the ability to automate their prices for Airbnb, Vrbo and Booking.com based on real-time data.
Surging short-term rental demand in 2021, combined with a lack of available supply in key destination markets, means rates are poised to grow even further. AirDNA expects an average national increase of around six per cent in the United States this year, making nightly rates one of the most important aspects of managing any vacation rental.
Property owners are therefore in a ideal position to maximise their revenue when they have data to back up tailored pricing strategies, according to AirDNA.
AirDNA CEO Scott Shatford said: “The partnership will further democratise short-term rental data for thousands of small businesses and entrepreneurs, helping them thrive and directly compete with professional lodging providers. We’ve built this integration with Futurestay because they understand the importance of giving these hosts the right tools and data needed for success.”
The integration aligns with Futurestay’s mission to simplify management operations from end-to-end; hosts at any experience level will now be able to compete with property operators of any size by automatically pushing tailored prices to top host platforms.
Futurestay CEO Philip Kennard said: “70 per cent of short-term rentals are run by entrepreneurs, individuals and independent managers seeking success in an increasingly complex market. Futurestay and AirDNA’s partnership levels the playing field, empowering small businesses with high-quality data, pricing and automation technology rivalling that used by global hospitality leaders.”
AirDNA’s Smart Rates pricing recommendation tool is set up to give hosts a competitive edge with personalised pricing suggestions that maximise both revenue and occupancy.
While sending daily pricing to Airbnb, Vrbo, and Booking.com is automated, customers have total command of their pricing strategy; they can set minimum and maximum rates, focus on occupancy versus maximum ADR [average daily rate], adjust for preferences on aggressive or conservative pricing, and orphan discounting. They will be able to see at a glance how days of the week, real-time demand, lead time, and seasonality are affecting recommended rates.