Dynamic Pricing: Interactive Demo & Setup guide

Interactive Demo

Setup guide

1. Go to your Hostaway Dashboard > Click on the Dynamic Pricing tab
2. In the upper right-hand corner click on Know More to allow our dynamic pricing model to process your listings and past bookings to generate suggestions
   
   
   
   
3. A new window will open to accept the Terms & Conditions 
   

   • You will not be charged yet at this point
     
     

4. Wait for our dynamic pricing model to finish processing your listings. This depends on your number of listings and takes an average of 3 minutes per listing. Leave this page and come back later (soon, we'll send you a notification instead when your listings are ready for dynamic pricing)
   
   
   
   

5. When your listings are ready, go to the Dynamic Pricing Settings

6. Select the listing and click on the pencil to Edit
   
   
   
   

7. A new window on the right will open with your Price Settings:

   • Base price. The average nightly rate you want to charge over time

     • Market-driven base price. Use this to use the suggested base rate which is constantly informed and updated by our dynamic pricing solution

     • Manual base price. Use this to set the base rate that you want. It will remain constant unless you decide to change it

   • Base price optimization options 
     • Conservative base price. This option will automatically adjust to market fluctuations and booking performance but will always be more conservative than the recommended option
     • Recommended base price. This option will automatically adjust to market fluctuations and booking performance
     • Aggressive base price. This option will automatically adjust to market fluctuations and booking performance but will always be more aggressive than the recommended option

   • Minimum price. The minimum nightly rate. Use this to let our dynamic pricing model know that you are not willing to go below a certain price for this listing

   • Maximum price. Use this to let our dynamic pricing model know that you are not willing to go above a certain price for this listing
     
     
     
     

8. Additional pricing rules
   

   At the bottom of the Price Settings window that opens when you click on the pencil associated with each listing, you will find information about the additional pricing rules.

    

   

   
   

   These settings are based on the best practices across the Hostaway portfolio to optimize your property revenue and protect you from underselling. The settings are not customizable and are automatically applied to all subscribed and synchronized listings.

   • Far future premium. This is a price adjustment rule that adds a percentage for nights far in the future but is adjusted as each vacant night gets closer based on current data.
     • +10% at 180 days out
     • +15% at 240 days out
     • +25% at 330 days out
   • Last-minute discounting. Help increase bookings for the short term.
     • -10% for bookings made within 21 days
     • -15% for bookings made within 14 days
     • -20% for bookings made within 7 days
     • -25% for bookings made within 4 days
   • Historical anchoring. This rule looks at the best performance of the historically booked dates and adds a percentage to the prices. Historical anchoring always increases the price.
     • No change 210 days out
     • +10% at 270 days out
   
   

9. Activate Dynamic Pricing for the listing
   To enable dynamic pricing for your listing, toggle the Subscribed switch. Once activated, you’ll have two options:
   

   • Sync Prices Now – Instantly apply dynamic pricing to your listing with no further action required
   • Subscribe & Review Prices – Preview suggested prices before syncing. To finalize, go to your Calendar and click Sync Prices
     
     
     
     Activation Statuses
   • UNSUBSCRIBED – Dynamic Pricing is not active for this listing.
   • SUBSCRIBED - PRICES NOT SYNCED – Dynamic Pricing is enabled, but prices have not been applied yet. You can preview and adjust pricing before syncing.
   • SUBSCRIBED - PRICES SYNCED – Dynamic Pricing is fully active. Prices update every 24 hours, incorporating any custom rules or adjustments you've set.
     
     Important Notes
   • Subscribing a listing does not immediately update prices across all channels. You can review and adjust pricing for up to 1.5 years in advance before syncing
   • By following these steps, you ensure your listing's pricing stays competitive and optimized automatically
   • If you want future listings to follow the same selection automatically, check the "Remember my choice" box
     
     
     
     
   • This is the moment you will get charged for the listing
   • The price per listing is static, and it varies by region
     
     
10. Listing Out of Market Warning
    • If you try to subscribe a listing to Dynamic Pricing and see a warning pop-up, it means that the listing is currently outside our supported market areas.
    • To request coverage for this listing:
      • Contact our support team and provide the listing IDs you want to enable
      • Our team will forward your request to the data team, who will assess and work on adding the area to our supported markets
    • Until the listing is added to a covered market:
      • Dynamic Pricing will remain deactivated for this listing
      • You will not be charged for the service