Important:
Once activated on a listing, minimum night restrictions are managed in PriceOptimizer. Changes to minimum night restrictions made in the Guesty calendar or listing settings will be overridden by PriceOptimizer.
Make sure your listing is not assigned to a Guesty rate strategy, as minimum night rules will cause discrepancies when used in conjunction with PriceOptimizer.
Dynamic factors are parameters taken into account and applied to the base price to generate the recommended nightly rate. We compare your property with others that have similar attributes and make adjustments based on local market changes. You can adjust the listing's base price and determine the impact that each dynamic factor, like day-of-week and holiday, will have on your pricing.
For additional PriceOptimizer customization options, see full details here.
Access PriceOptimizer settings
Follow these steps to access a listing's PriceOptimizer settings. See details in the sections below about the different options for your pricing strategy.
Step by step:
- Sign in to your Guesty account.
- In the top navigation bar, click
and select Guesty add-ons.
- Scroll down and click Guesty PriceOptimizer.
- Find the listing(s) for which you want to adjust the pricing. You can search for a specific listing by name or nickname or use the filters to find all listings that match your specific criteria.
- Select the relevant listing.
- In the left-side menu, click Pricing strategy.
- Review and edit each section as described below.
- Click Add/update rule.
- Click Apply x change(s) in the top-right corner and select Apply again in the confirmation pop-up whenever a change is made.
Step by step:
- Sign in to your Guesty account.
- In the top navigation bar, click
and select Guesty PriceOptimizer.
- Select the relevant listing.
- In the left-side menu, click Pricing strategy.
- Review and edit each section as described below.
- Click Add/update rule.
- Click Apply x change(s) in the top-right corner and select Apply again in the confirmation pop-up whenever a change is made.
Base price strategy
The base price is the starting point for your pricing. Choose PriceOptimizer's recommended pricing or control the pricing yourself in this section.
Base price settings
- Select Automatic base price to see the recommended pricing from PriceOptimizer's algorithm. Keep the recommended pricing or take a more conservative approach (20% lower) or a more aggressive approach (20% higher).
- Select Manual base price to set a fixed base price that remains constant regardless of market changes.
Price limits strategy
Stay within your desired pricing range by customizing your pricing with default minimum and maximum limits. Guesty PriceOptimizer’s algorithm will always stay within your default limits unless you add time-based rules for time periods like holidays, events, or seasons.
For example, let's say your minimum price default is set at $800 and your maximum is $1300. However, you want to raise the default prices for the summer months. In this case, you can set a time-based rule and adjust the minimum and maximum pricing to apply to the months of May through October. The other months of the year will adhere to your default pricing.
Day-of-week
Review and customize the impact of every day of the week on your pricing.
In the pricing strategy graph shown below, you will see a trendline representing the dynamic factor's impact: base price + contribution of the factor each day.
Select Automatic pricing impact to use the recommended pricing from PriceOptimizer's algorithm. Keep the recommended pricing or take a more conservative approach (20% lower) or a more aggressive approach (20% higher).
Select Fine-tune pricing impact to fine-tune the algorithmic suggestions for specific days of the week. The impact will be derived from each day's base price and added to the day impact calculations.
For example, as illustrated in the gif below:
- Decrease the pricing impact on Mondays by 10%
- Increase the pricing impact on Fridays by 20%
- For all other days of the week, 0% = PriceOptimizer recommendations
Day-of-week date range rule
In addition to controlling the impact per day as shown above, you can also define rules for a date range. The date range rules are more specific and will override the values that were set at the day-of-week level.
Seasonal
Select Automatic pricing impact to use the recommended pricing from PriceOptimizer's algorithm. Keep the recommended pricing or take a more conservative approach (20% lower) or a more aggressive approach (20% higher).
Select Fine-tune pricing impact to fine-tune the algorithmic suggestions for specific months. The impact will be derived from each day's base price and added to the day impact calculations.
Keep in mind that 0% = PriceOptimizer recommendations.
Seasonal date range rule
In addition to controlling the seasonality impact per month as shown above, you can also define rules for a date range, like an event or holiday period. The date range rules are more specific and will override the values that were set at the month level.
Holiday
Select Automatic pricing impact to use the recommended pricing from PriceOptimizer's algorithm. Keep the recommended pricing or take a more conservative approach (20% lower) or a more aggressive approach (20% higher).
Select Manual pricing impact to update rules for specific holidays. The impact will be derived from each day's base price and added to the holiday impact calculations.
Keep in mind that 0% = PriceOptimizer recommendations.
A list of holidays will be pre-selected based on the listing's country. To view the list of holidays, click Manual pricing impact.