This new release reinforces Lodgify’s commitment to supporting the operational success of its global customers.
Lodgify, the vacation rental platform that provides independent hosts and property managers with essential tools to start and grow a lodging business, announces the addition of Lodgify Dynamic Pricing to its suite of management tools. Designed to maximize bookings and revenue by leveraging real-time data-driven factors, Dynamic Pricing automatically adjusts nightly rates to ensure vacation rentals are always priced competitively, so hosts can focus on growing their business without needing to continuously and actively monitor pricing fluctuations within their rental market.
Lodgify Dynamic Pricing harnesses an algorithm that analyzes over 40 listing attributes – including location, amenities, and guest capacity – alongside demand and seasonality, to make data-informed predictions and automatically tailor rates as market trends shift, resulting in an average of 20% in boosted revenue. The feature is seamlessly embedded into the Lodgify platform, enabling hosts to manage their pricing strategy within the same system they use for all other aspects of their vacation rental business.
“This tool is not just about adjusting prices; it’s about empowering our users with the adaptability needed to thrive in today’s competitive market and to capitalize on high-demand periods for their rentals,” said Dennis Klett, co-founder and CEO of Lodgify. “Dynamic Pricing represents our dedication to providing a comprehensive, easy-to-use platform that enhances the long-term success of our customers’ businesses in the form of increased revenue, all while saving their valuable time.”
The development of Dynamic Pricing is supported by a decade of data compiled from major online travel agencies and strategic partnerships with industry leaders, ensuring that the tool’s recommendations are both reliable and relevant. Additionally, the tool provides eighteen months of data-backed nightly rates in a matter of seconds, minimizing the effort required by hosts to manage their rental pricing.
Activating Lodgify Dynamic Pricing is straightforward within the Lodgify platform, allowing users to immediately benefit from smart and competitive pricing for their vacation rental properties without the need to manage multiple subscriptions.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
