How does Smart Pricing work on Travelnest?

What is Smart Pricing?

Smart Pricing, also known as dynamic pricing, is a pricing strategy that enables property owners to use real time data to set the best rate for their listings. Through Smart Pricing, property owners can keep an eye on market changes and adjust their prices accordingly to maximise their revenue. By setting the right prices, they can boost their bookings and enhance the profitability of their vacation rental. 

Advantages of using Travelnest's Smart Pricing for your vacation rental

Increase revenue 

Our data shows that Travelnest customers who have used the Smart Pricing feature have experienced an average increase of up to 60% in annual bookings. This improvement is possible because Smart Pricing constantly monitors the market, something that would be challenging to do manually every day.

Simplification of work 

Using a pricing tool like Travelnest's Smart Pricing can bring many benefits to hosts. It saves time, reduces work-related stress, and boosts confidence in their business. Pricing can be tricky, and even the most skilled hosts can make mistakes. If you manage multiple properties or host different units, you'll love how our automated Smart Pricing tool eliminates the need for manual management, making your life easier.

Stay ahead of the competition

To stay ahead in the market, businesses must adapt swiftly to changes. Dynamic pricing systems offer several benefits that can enhance your business strategy. With our Smart Pricing, you gain access to a vast network of hyperlocal insights that cover over 540 markets across six continents. This understanding of demand in your area gives you a competitive advantage over others.

How set up Travelnest’s Smart Pricing

Quick and easy way to turn on Smart Pricing feature

With just one click and in under a minute, Travelnest customers can easily adjust their vacation rental rates based on details like location, property size, bedrooms, and amenities. Once you activate Smart Pricing, it will continuously analyse the local market using external data sources. Your prices will be updated every 24-48 hours, ensuring you have the optimal nightly rate for your property. Plus, you'll have pricing for your listing up to 12 months in advance.

To understand the demand in your area, Smart Pricing considers factors like local events, holidays, and the availability and pricing of similar properties. By taking all these factors into account, Smart Pricing makes sure your vacation rental is competitively priced, allowing you to maximise occupancy.

Easy way to set up minimum rates for your vacation rental

If you're a property owner worried about reducing the price of your vacation rental, you can establish a minimum rate for your listing with Travelnest's Smart Pricing. For example, if you usually charge less than £100 per night, you can set a minimum rate of £100. Once you activate Smart Pricing, our tool will guarantee that you never receive rates below that amount. We wanted to provide property owners with the flexibility to manage their costs more effectively and have the option to adjust their calculations if they charge additional fees.

Adjust your rates in one single calendar

You have full control over your nightly prices with Travelnest's Smart Pricing. You can easily adjust any price on your calendar or override specific nights to have complete pricing control. Once you enable this feature, you can view the pricing for each night directly from your calendar. It's important to review your prices for the upcoming year when you activate smart pricing. You can decide if you want to change your minimum price or override prices for certain nights or seasonal periods. 

Boost your revenue without any extra charges

As a Travelnest user, you can use our Smart Pricing feature for free. It's a tool that helps hosts increase their earnings and is included in our suite of tools. To start using Smart Pricing and boost your earnings by up to 60%, just log in to your Travelnest account and go to your nightly pricing section.

If you're not a Travelnest customer yet, sign up for a free account and start creating one single account to list your property on over 30 popular travel websites. Once you have an account, you can activate Smart Pricing at no extra cost.

Don't let manual rate adjustments hold you back from reaching your full potential in the vacation rental market. Embrace our Smart Pricing feature and enjoy the benefits of effortlessly staying ahead of the competition while increasing your revenue.

Our tool has been helping other customers like Yvonne from Vry Global Property Relocation to stay competitive in the vacation rental market. She said, "Smart pricing has revolutionized our business. We have seen a significant increase in occupancy. At the touch of a button, everything is done for you!"

We believe that this tool will also greatly benefit you as a vacation rental owner.