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
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
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
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
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: