Guesty PriceOptimizer is a data-driven, machine-learning tool that gives you recommendations for your listings' nightly rates based on different time period intervals. Our interactive software takes several details into account based on market trends to offer the best-suggested prices.
PriceOptimizer helps maximize revenue and occupancy while saving you time and minimizing manual mistakes, making it an ideal tool for your property management business. Suggested prices can be manually adjusted at any time based on your individual needs.
Note:
- PriceOptimizer is currently available to users in the United States, Canada, United Kingdom, Australia, and New Zealand who have up to 20 active listings
- A listing must be active for 7 days and be integrated with at least one booking channel to be eligible
- PriceOptimizer is currently available to use on the Guesty desktop platform and not our mobile app
Before activating, please note the following:
- Use of Guesty PriceOptimizer starts with a 30-day free trial that can be canceled at any time.
- The trial starts once the PriceOptimizer tool is activated (see the steps below).
- You must enable each listing for the recommended pricing to apply (see the steps below).
- We suggest reviewing the pricing recommendations for each listing before you enable it. You can also follow these instructions to make some adjustments on the listing, before enabling, to see how the pricing is affected.
- You'll be notified 2 days before your trial ends.
Activating PriceOptimizer
Step by step:
- Sign in to your Guesty account.
- In the top-right corner, click the diamond icon.
- Click Guesty PriceOptimizer.
- Click Claim your 30-day free trial.
- In the pop-up, read and then click the tickbox to accept the Terms & Conditions and Pricing Plan.
- Click Start your free trial.
Read the instructions below to activate Guesty PriceOptimizer on your listing(s). Once activated, the recommended nightly rate will automatically update in the listing's calendar and will recalculate on a daily basis.
Activating PriceOptimizer on a Listing
Step by step:
- Sign in to your Guesty account.
- In the top menu, click Revenue Management.
- In the revenue management menu to the left, click PriceOptimizer.
- Find the listing(s) you want to use PriceOptimizer on. You can search for a specific listing by name or nickname, or use the filters to find the listings that match your specific criteria. Click anywhere in the listing to open its pricing information.
- Review the pricing information by clicking on the following views at the bottom of the graph:
- Current pricing is the gray line in the graph and shows your current listing rates.
- Recommended pricing is the blue line in the graph and represents PriceOptimizer pricing recommendations.
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Market pricing is the green line in the graph and shows the pricing of similar listings in the market.
- Set the minimum and maximum rate limits in the Pricing forecast tab. See how to perform these actions here.
- Click Pricing strategy to define your base price and how dynamic factors will impact your listing. See how to perform these actions here.
- When the listing's pricing is to your liking, click on the toggle next to PriceOptimizer off located in the top right of your listing to activate it.
- In the resulting pop-up, click the blue Activate button to confirm. It is important to note that PriceOptimizer will override any rate strategy rules you may have.
