Vacation rental News
Avantio collaboration with PriceLabs
For clients interested in maximising the revenue from their property portfolio, Avantio presents the collaboration with Pricelabs, a dedicated Revenue Management tool. This connection has been developed entirely with our clients in mind, to help vacation rental agencies grow their business profitably using features with automation.
What is Revenue Management for vacation rental agencies?
Revenue Management is a process which allows agencies to dynamically manage the pricing and minimum stay duration of property reservations through automated rules. This is achieved by continually scanning the market for supply and demand trends. This data, for both the past and the future is collated and then compared in correlation with reservation gaps in the agency’s calendar to find the best price and length of stay opportunity.
The benefit to agencies
- Significant time saved managing price alterations.
- Less resources required to analyse external data.
- Increased revenue through optimized prices depending on a variety of external factors.
- Optimizing orphan days in the calendar.
There are number of aspects that will affect the price and length of stay recommended. These include:
- The seasons.
- Local events.
- Local and international holidays.
- Period of time until the reservation.
Eg. If you have two long reservations in the calendar, with a 2 day gap between them, a lower price with a two day minimum stay can help fill that gap and increase revenue.
Although this process in entirely automated through your software, you will maintain full control over the entire pricing process as price and stay duration recommendations can be overridden by the agency.
PriceLabs has an excellent reputation in the short-term letting industry, with innovative and easy to use revenue management solutions. Their goal is easily provide agencies with the best rate possible for every night.
For more information and more details on how to activate this revenue management feature in your account, please don’t hesitate to contact your Account Manager.
If you want to know more about this, visit our support page.
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