Lodgify
[Credit: Lodgify]

Lodgify launches dynamic pricing tool

US: All-in-one vacation rental platform Lodgify has announced the addition of Lodgify dynamic pricing to its suite of management tools for independent hosts and property managers.

Designed to maximise bookings and revenue by leveraging real-time data-driven factors, dynamic pricing automatically adjusts nightly rates to ensure vacation rentals are always priced competitively, so hosts can focus on growing their business without needing to continuously and actively monitor pricing fluctuations within their rental market.

Lodgify dynamic pricing harnesses an algorithm that analyses over 40 listing attributes – including location, amenities, and guest capacity – alongside demand and seasonality, to make data-informed predictions and automatically tailor rates as market trends shift, resulting in an average of 20 per cent in boosted revenue. The feature is seamlessly embedded into the Lodgify platform, enabling hosts to manage their pricing strategy within the same system they use for all other aspects of their vacation rental business.

Dennis Klett, co-founder and CEO of Lodgify, said: “This tool is not just about adjusting prices; it’s about empowering our users with the adaptability needed to thrive in today’s competitive market and to capitalise on high-demand periods for their rentals. Dynamic pricing represents our dedication to providing a comprehensive, easy-to-use platform that enhances the long-term success of our customers’ businesses in the form of increased revenue, all while saving their valuable time.”

The development of dynamic pricing is supported by a decade of data compiled from major online travel agencies and strategic partnerships with industry leaders, ensuring that the tool’s recommendations are both reliable and relevant. Additionally, the tool provides 18 months of data-backed nightly rates in a matter of seconds, minimising the effort required by hosts to manage their rental pricing.

Lodgify announced two key leadership appointments in November, with Marco De Gregorio becoming the company’s first chief AI officer and Marco Cupidi being named as its new chief technology officer [CTO].

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