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Denmark: Dynamic pricing, powered by revenue management solution provider PriceLabs, is now available for all Your.Rentals users at no extra cost, courtesy of a new partnership between the two companies.
The release is designed to bolster Your.Rentals’ ‘all-in-one software’ value proposition, as its industry-first integration sets out to make dynamic pricing simple for all users in the following ways:
- No additional accounts or API connections required: Users can access PriceLabs’ dynamic pricing directly through the Your.Rentals platform without the need for separate accounts or complex API setups.
- Instant setup and implementation: With just a few clicks, hosts and property managers can enable dynamic pricing, which will automatically sync across all their connected channels.
- No subscription fees: The dynamic pricing tool is included in the Your.Rentals service fee, eliminating the need for separate subscriptions to third-party vendors.
Dynamic pricing is a sophisticated, automated pricing strategy that uses real-time data and predictive algorithms to optimise rental prices. The approach ensures that rental properties are competitively priced to maximise occupancy and revenue throughout the year.
During the initial testing phase with 200 early-access users, the integration demonstrated significant results, including a 306 per cent increase in daily booking conversion rates after activating dynamic pricing, and a 42 per cent reduction in unbooked units, showcasing the efficiency of automated, intelligent pricing adjustments.
By offering a truly integrated dynamic pricing solution built natively into the Your.Rentals platform, the two companies want to set a new standard for the industry and enable users to benefit from a seamless experience without the hassle of additional setup or maintenance.
Your.Rentals CEO Andrew Martyn said: “Over the past few years, pricing has become a critical success factor in the marketing and distribution of short-term rentals. The market is now divided into those who set their rates each year and hope for the best, and those using a dynamic pricing solution.
“We’ve made dynamic pricing incredibly simple for every short-term rental host and property manager. It literally takes less than a minute to set up for each listing,” he added.
Richie Khandelwal, co-founder of PriceLabs, said: “We are thrilled to partner with Your.Rentals and Andrew Martyn, who have built an outstanding business. With this seamless integration, Your.Rentals customers can now price optimally and maximise their revenue.
“Together, we’re setting a new standard in the short-term rental market,” he added.
Established in 2014, PriceLabs prices more than 400,000 properties daily, serving more than 45,000 clients worldwide. Its expertise in market data and algorithmic pricing will help to empower Your.Rentals’ 5,000+ users.
Your.Rentals CEO Andrew Martyn and PriceLabs co-founder Richie Khandelwal will host a live webinar on Thursday 4 July at 3 PM CEST. The webinar will provide an in-depth look at dynamic pricing and its critical role in today’s short-term rental market – register for the webinar here.
