FAQs
-
When will I see my nightly rates updated?
- Our dynamic pricing algorithm updates nightly rates once every 24 hours. So, sometime within that period, you should see the dynamic pricing changes reflected on your nightly rates. Price changes can only be applied to open/available dates, so any reserved or blocked dates will not be affected until they become available.
- Our dynamic pricing algorithm updates nightly rates once every 24 hours. So, sometime within that period, you should see the dynamic pricing changes reflected on your nightly rates. Price changes can only be applied to open/available dates, so any reserved or blocked dates will not be affected until they become available.
-
How frequently Hostaway Dynamic Pricing engine update recommended prices?
- The frequency of updates depends on different scenarios:
- Prices are updated the first time the product is turned on (i.e. clicking on "Preview prices for free”)
- Every time a customer makes a change to a setting (minimum price, strategy)
- In any case, prices are updated automatically every 24 hours
- The frequency of updates depends on different scenarios:
-
When do I get charged?
- You get charged on a prorated base when you flip the activate switch for a listing in the dynamic pricing screen
- You get charged on a prorated base when you flip the activate switch for a listing in the dynamic pricing screen
-
How I will be charged for Dynamic Pricing?
- You will pay every month for the days that Dynamic Pricing was active for each listing on the Hostaway Dashboard
- You will pay every month for the days that Dynamic Pricing was active for each listing on the Hostaway Dashboard
-
Where does Hostaway get its data?
- We work closely with top industry data partners and revenue management software providers to access billions of data points across millions of units worldwide
- Our team meticulously analyzes this data, feeding it into our advanced machine-learning models
- This process forms the backbone of our algorithm, allowing us to create accurate, data-driven nightly pricing for each unique listing
- Some of the sources that we use are worldwide Airbnb, Vrbo, and of course all of the reservations in the Hostaway system
-
How do I override prices on specific dates?
- All you need to do is go to the calendar and update the nightly rate for those dates. Our software will remember this change and stop our dynamic pricing model from changing the prices on those nights
- All you need to do is go to the calendar and update the nightly rate for those dates. Our software will remember this change and stop our dynamic pricing model from changing the prices on those nights
-
How does Hostaway's Dynamic Pricing calculate the rates for holiday periods such as November, December, or January?
- The rate is based on current and future estimated supply and demand for those months, just like any other month
- For holidays, the supply goes up as people travel and rent their homes during that time, but the demand also goes up
- We look at the supply and the nights booked, the rates booked, the rates unbooked, and the booking window
-
How long does Hostaway take to process dynamic pricing for one of my listings after I enable it?
- It takes up to 24 hours for newly created listings to be processed
- If you have created a new listing and enabled dynamic pricing for it, please check it after 24 hours and it should be active.
-
What process should I follow if I am already using a pricing tool and want to switch to Hostaway Dynamic Pricing?
You must avoid having the same listing active in two different pricing tools at the same time.
Please follow the next steps:
-
- Turn off the external Dynamic Pricing tool
- Go to your Hostaway Dashboard > Dynamic Pricing
- Follow the process on Dynamic Pricing: Interactive Demo & Setup guide
- Review the suggested prices by Hostaway Dynamic Pricing
-
Turn active the listings on Hostaway Dynamic Pricing
-
-
What happens to my prices if I disconnect Hostaway's dynamic pricing tool?
If you disconnect Hostaway's dynamic pricing tool, the prices will revert to the prices you had before activating the tool.
-
Why does the dynamic pricing calendar show rates different from the Hostaway main calendar?
Prices on the Hostaway calendar and in the Dynamic Pricing calendar can differ because the Hostaway calendar updates daily and reflects the prices at the time of booking. In contrast, the Dynamic Pricing calendar displays real-time price suggestions.
Hostaway Calendar: Updates are done on a daily basis. The prices displayed will be the prices that will appear at the time of booking .
Dynamic Pricing Calendar: This shows real-time price suggestions based on factors that are updated regularly in the model, leading to daily adjustments. These factors include seasonality, local demand, listing availability, and time