Note:
If you make manual adjustments to pricing in the multi-calendar it will sync with PriceOptimizer, appearing as a manual price in the pricing forecast graph. Learn more.
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.
Read below about the different options you have to review and customize the recommended pricing and availability.
Access PriceOptimizer settings
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 and edit the settings according to your needs.
- 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 Marketplace.
- Click Guesty PriceOptimizer.
- Select the relevant listing and edit the settings according to your needs.
- Click Apply x change(s) in the top right corner and select Apply again in the confirmation pop-up whenever a change is made.
Pricing forecast
The Pricing forecast graph shows the following data:
- Actual pricing: Current pricing relying on the algorithm's suggestion, including strategy adjustments and changes that are made.
- Recommended pricing: The initial algorithm suggestions before any of your own adjustments are made.
- Market pricing: Orange line showing the pricing of similar listings in the market
- Original pricing: Light blue line showing your rates before activating PriceOptimizer.
To display or remove the comparison data, click the tickboxes at the bottom of the graph.
When you hover over dates a pop-up appears as follows:
- For the default trend showing "Actual pricing", the pop-up includes a breakdown of the price (base price, seasonality, day of week, etc):
- When you are comparing more than one data trendline, the pop-up will display the values for these trends on a daily level as shown below:
Pricing strategy
With pricing strategy 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.
Minimum night rules
With minimum night rules, you can set minimum stay requirements for reservations by day-of-week, time period, and upcoming availability. You can also maximize occupancy by automatically lowering the minimum night stays and the pricing for gap periods smaller than the current minimum night requirement.
Last minute pricing
Last minute pricing allows you to review and customize the impact of last minute bookings on your pricing strategy. You have the option to use the automatic or fine-tuned pricing impact.
Demand pacing
Demand pacing allow you to fully control the impact pricing has based on occupancy relating to the number of days before check-in, giving you the flexibility to adjust nightly rates based on occupancy and lead time.
Local events
Instead of making manual adjustments for premium dates that are not recognized under holiday pricing strategies, you can create a local event rule that is reflected in your overall pricing strategy data.
Competitive benchmarking
Gain a better understanding of your listings' performance in comparison to direct competition with Guetsy PriceOptimizer's competitive benchmarking. You can build your own competition group by adding or updating listings and searching for more information on them.
Override recommended pricing
You can manually override the recommended pricing and rate limits at any time in the Pricing forecast, for one night or for multiple dates. Manual adjustments can also be reversed.
