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Change Your Property's Pricing

How to set the pricing for your property, both in settings and in the calendar.

Jenn Tomaszewski avatar
Written by Jenn Tomaszewski
Updated over 3 weeks ago

There are a few different ways in which Pricing can be set in Hospitable and sent to your listings:

  1. It can be Manually set on your property calendar.

  2. It can be set via a Nightly and Weekend rate in your property settings.

  3. It can be set via a Rule-set on your property calendar.

  4. It can be set by Hospitable’s Dynamic pricing tool.

  5. It can be set by an external Dynamic pricing tool such as Wheelhouse or PriceLabs.

Dynamic Pricing Hospitable offers its own dynamic pricing feature, which allows users to automatically adjust nightly rates based on market demand, seasonality, and other relevant factors. This helps maximise revenue and occupancy rates. Alternatively, if you are using an external Dynamic Pricing Integration, you should set your prices there, not in Hospitable. Learn more here.

1. Manually editing calendar pricing

You can manually edit the pricing for particular dates in your calendar if you:

  1. Go to your Hospitable account.

  2. Select either Properties > select a property > click on Calendar, or go to the main Calendar page to view all property calendars on one page.

  3. Click on the date you wish to change twice (or, to select a series of dates, click on a start date and an end date).

    1. If you select more than one week, we will show a day of the week selection option, with all dates selected by default. If you only want your pricing updates to apply to specific days of the week, deselect the unwanted days.

      In the example shown in this screenshot, changes will only apply to weekend dates (Friday and Saturday).

  4. Enter the value in the Price field.

  5. Click Save.

Prices set manually will be pushed to all listings in your property, assuming they are not calendar-restricted.

The calendar will prefer the manual edit over any pricing set by the Nightly and Weekend rate rules on the property. Updates from an external dynamic pricing tool, such as Wheelhouse or PriceLabs, will override the prices that you manually input in your Hospitable calendar.

Rule-sets that contain a pricing adjustment, added to manually edited dates, will be added to the manual edit you made in your calendar.

2. Setting price using Nightly and Weekend rate settings

You can set pricing on your property using the Nightly and Weekend rate settings on the property’s Pricing page. You can read more about that page here.

Pricing set by the property’s Nightly and Weekend rate settings will be applied to all dates in your calendar that have not been manually edited. If your dates contain a rule-set with a pricing adjustment, the pricing adjustment will be calculated on top of the new price coming from the Nightly and Weekend rate settings.

To start configuring the Nightly and Weekend rate settings for your property:

  1. Go to Hospitable > Properties

  2. Select the property you want to edit.

  3. Click on the Pricing page on the left-hand side menu.

  4. On the General tab, set the Nightly and Weekend rate you want.

    1. Nightly rate: Base nightly rate for all nights of the week, unless you have set a Weekend rate.

    2. Weekend rate: Base nightly rate for weekend nights. This refers to Fridays and Saturdays. Sunday nights are not counted as weekend nights.

Prices set by your property’s Nightly and Weekend rate settings will be pushed to all listings in your property.

3. Setting pricing using a rule-set

Rule-sets offer a way to dynamically adjust pricing on certain dates, based on the price set by manual edits, Nightly and Weekend rates, Hospitable’s dynamic pricing tool, or an external dynamic pricing tool.

In your rule-set, you can set:

  • A Price adjustment: A percentage adjustment (up or down) that will be added on top of whatever price the applied to dates have in your Hospitable calendar.

  • A Min price: A minimum price that the Hospitable Dynamic pricing tool will go to for the applicable dates.

  • A Max price: A maximum price that the Hospitable Dynamic pricing tool will go to for the applicable dates.

You can read more about rule-sets and how they work in regard to pricing, here.

Pring adjustments applied by a rule-set will be pushed to all listings on your property.

4. Setting pricing using Hospitable’s Dynamic pricing tool

Hospitable's Dynamic Pricing automatically adjusts your nightly rates based on market demand, seasonality, and other factors to help maximise your revenue and maintain optimal occupancy.

Instead of having to manually update prices, Dynamic Pricing analyses multiple data points to automatically set the best possible rates for each night on the next 24 months of your calendar.

You can select a pricing strategy that aligns with your revenue goals:

  • Conservative: Sets base prices slightly lower than the recommended rate to prioritise high occupancy rates.

  • Recommended: Sets rates to optimise both occupancy and revenue.

  • Aggressive: Sets base prices slightly higher than the recommended rate to increase revenue per booking, with a potential trade-off in occupancy.

  • While our suggested base price works well for most properties, setting a custom base price might be better in some situations.

You can read more about how Dynamic pricing works and what considerations are made when creating your dynamic price here.

Things to keep in mind about Hospitable's Dynamic pricing tool:

  • Prices set by Hospitable’s Dynamic pricing tool can be overridden by manual edits in the calendar.

  • Manual pricing edits will be kept in place and not overridden by the Dynamic pricing tool.

  • Similarly, if you have a third-party dynamic pricing tool, like Wheelhouse or PriceLabs, connected to your Hospitable property, updates from that pricing tool will override pricing set by Hospitable’s Dynamic pricing tool.

  • Pricing adjustments set by a rule-set will be applied to the price set by Hospitable’s Dynamic pricing tool.

  • Prices set by Hospitable’s Dynamic pricing tool are pushed to all listings on your property.

5. Setting pricing using an external dynamic pricing tool

You can use a Dynamic pricing tool such as Wheelhouse, PriceLabs or others to set the pricing in your Hospitable calendar.

You can find the full list of dynamic pricing tools Hospitable integrates with here.

Things to keep in mind about external dynamic pricing tools:

  • Pricing set by a dynamic pricing tool will be pushed to all listings in your property.

  • The pricing Hospitable receives from your connected dynamic pricing tool will override any value set by the Nightly and Weekend rate setting on your property, or made by manual edit in the calendar.

    • It will also override pricing set by Hospitable’s dynamic pricing tool.

  • Prices set by a third-party dynamic pricing tool will have pricing adjustments from rule-sets applied to them.

Important Note About Markup Rates

Markup rates help you customize your pricing for the same listing on different channels. When updating the pricing on your calendar, markup rates are always added to the rate you set. For example, if you have a 3% Airbnb markup and set $100 as your nightly rate on Hospitable, $103 will be pushed to Airbnb. Learn more about markups and how to set them here.

A note on setting pricing on your booking platforms

Setting pricing on Airbnb

When you connect your Airbnb listing to Hospitable on the Property Management Software scope (PMS scope), your calendar pricing should be set and controlled on Hospitable.

Hospitable becomes the source of truth, which will control your pricing on Airbnb. While you will be able to manually change prices on Airbnb, Hospitable will override the price set on Airbnb if it conflicts with the price in the Hospitable calendar.

If you have connected your Airbnb listing on a limited connection, then Hospitable will not have any control over your Airbnb calendar. You will then need to set pricing directly on Airbnb, rather than in the Hospitable calendar. Hospitable will not pull in that pricing from your Airbnb listing and push to your other listings!

Setting pricing on Booking.com

Similar to how Airbnb works, when you connect your Booking.com listing to Hospitable, Hospitable becomes the source of truth for your calendar pricing. Pricing needs to be set on Hospitable, and Hospitable will push it to Booking.com.

Unlike Airbnb, it is not possible to connect Hospitable to Booking.com on a more limited connection, which could give you access to controlling pricing on the Booking.com Extranet.

Other rate plans on Booking.com

Hospitable only syncs with one rate plan on Booking.com per listing. We call that the Parent rate plan. Other rate plans (called Child rate plans) can be set up so that they take price and availability from the parent rate plan. However, you can also create multiple Parent rate plans on Booking.com. Hospitable will not be in control of those other parent rate plans (only one!), meaning you can manually control pricing for those.

We do not recommend this sort of setup!

Read more about how to manage Parent and Child rate plans on Booking.com here.

Setting pricing on Vrbo

Unlike Airbnb and Booking.com, Hospitable is not the ultimate source of truth for pricing on Vrbo. This will change with the upgrade to Vrbo’s Official API, which is coming soon!

Hosts can freely change their pricing directly on the Vrbo calendar. This pricing will only be pulled into Hospitable if Vrbo is the Lead listing on the property. It will then be pushed to the other listings on the property if you have Pricing sync enabled on your Hospitable account.

You can read more about this lead listing behaviour here.

Because Hospitable is not the ultimate source of truth for your calendar pricing on Vrbo, changes can be made to pricing on Vrbo after Hospitable successfully pushes pricing over to Vrbo. This will cause discrepancies between Vrbo and Hospitable, which is why we recommend that hosts only make pricing changes on the Hospitable calendar.

FAQs

Should I change prices in Hospitable or on each platform?

Always update your prices within your Hospitable calendar. Hospitable pushes these updates to connected platforms like Airbnb and VRBO, ensuring uniform pricing across channels.

Where in Hospitable can I access pricing settings?

Go to your Calendar and use the right sidebar to update base prices, nightly rates, or pricing settings.

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