Understanding Pricelabs Pricing with Tooltips

When examining a calendar, you can see the prices of listings. But how does Pricelabs determine these prices? The answer lies in a feature called a tooltip, which appears when you hover your mouse over the price for any given date.

Example: November 28th

• If there is a holiday, such as Thanksgiving, it will appear at the top of the list.

• Significant events like a college football game will also be highlighted.

• If there is no event or holiday, the tooltip will start with the date, the demand for that specific day, and the current market occupancy for that date.

Price Calculation Process

1. Base Price: We start with the base price. For this listing, the base price is $368. If a seasonal base price is applied, that will be displayed instead.

2. Market Factors:

   • Seasonality: For November 28th, there is an 8% decline, reducing the base price to $339.

   • Demand: A 30% increase in demand raises the price to $442. This is your uncustomized price, which is the base price plus market factors.

3. Price Customizations:

   • An occupancy-based adjustment of minus 5% reduces the price to $420. This is your customized price.

4. Thresholds: The system checks the listing's thresholds, such as minimum and maximum prices. This listing has a minimum price but no set maximum price, so a safety maximum price is set at 10 times the base price.

The final price for this date is the $420 customized price.

Additional Customizations

• A 2-night minimum stay is applied, derived from the default weekday minimum stay rule.

• Check-in and check-out rules are in place, allowing both for this date.

At the bottom of the tooltip, you will see the last seen price, which is the price last pushed out by the system, and the price with default customizations, showing what the price would have been without any manually applied customizations.

The tooltip is an incredibly useful tool for understanding why Pricelabs sets your listing price at a certain amount on any given date.