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Integration with PriceLabs

We're very excited to announce our integration with PriceLabs! We've been hard at work on features to support this integration -- like the new Spot Rates concept that lets you "paint on top" of seasonal rates to set rates for specific days.

To learn more and set up the integration, follow the instructions in our PriceLabs Integration Guide.

PriceLabs is a powerful revenue management & dynamic pricing solution for vacation and short-term rentals. A data-driven approach, automation rules, and customizations to manage pricing and minimum-stay restrictions help vacation rentals increase revenues and save them hours in the process.

The customization options layer on top of market data help you automate things like cascading minimum stays (e.g., lower min-stay as a date gets closer, reduce min-stay to fill gaps), last minute discounts, orphan gap discount/premiums while still giving you good control over your pricing strategy. Learn more in this short video demo!

The fastest, most-professional way to book is with OwnerRez, the leader in online vacation rental software.  Sign up for your free account!

35 Comments (add yours)

Oct 24, 18
8:32 pm
JTVRs says:

You're welcome *smile*

Don't forget to ask then to add OwnerReservations to their page. https://www.pricelabs.co/

It is a valuable Back link for you! Or any other dynamic pricer you use, usually have a list.

To others, PriceLabs has a good reputation. That is why I asked for them to be integrated.

Oct 25, 18
9:50 am
BlueMtnCabins says:

exciting, I have been using Wheelhouse (tripadvisor, Airbnb), and beyndPricing (VRBO). If I can use PriceLabs (provided that their fee is not too high) and then push Pricelabs driven pricing via channels to VRBO, TA, Booking etc , that would simplify life immensely! My observation lately beyodnPricing was wildly off the mark coming up with unrealistic prices. So I am hoping for better solution here :)

Oct 25, 18
6:50 pm
Chris Hynes says:

We can currently push to booking and TA (although TA requires the 5+). We'll have a channel bridge based rate push for VRBO, Air, TA etc. around the end of the year.

Oct 30, 18
7:10 pm
Sasquatch says:

So, if I understand this correctly, I can use PriceLabs to update my OwnerRez pricing (provided I want to pay their fees), and then around the end of the year I can use OR to push those prices to AirBNB and VRBO, as long as I'm using the new channel integrations?

Oct 30, 18
7:26 pm
Chris Hynes says:

Yep, that's the gist. You can also actually push to Airbnb right now because PriceLabs can do that push for you: http://blog.pricelabs.co/feature-update-mapping-listings-between-channels/

Oct 30, 18
7:30 pm
Sasquatch says:

Yes, I noticed that. I'm not sure if they charge per property, or per property pushed to a certain PMS/OTA. So I think for now while I'm trying them out I'll push to AirBNB only. Once OwnerRez can push to AirBNB and VRBO, I'll switch over to pushing to OR only and have OR push everywhere else.

Oct 30, 18
7:44 pm
Chris Hynes says:

It's per property + an extra dollar to push to two.

Oct 31, 18
1:32 pm
BlueMtnCabins says:

I looked and they are way too expensive IMO. says $49 for 3 properties and I do not even know if that includes all channels + OR or ??? I I have used wheelhouse (good), beyondpricing (wild a..s guesses, don't like, will disconnect) for over a year. Wheelhouse charges .75% per booking, beyondpricing 1%. No bookings- nothing to pay, I like it that way.

being disappointed with beyondpricing (I used on VRBO, it just set lower than normal price for spring break, but sets some wildly high prices for other periods and they don't book), I think I will just use wheelhouse for trpadvisor (it never books anyhow) and go back to manual pricing like before. Just my 2 cents.

Oct 31, 18
8:39 pm
JTVRs says:

Depending on your monthly revenue, pricelabs can be cheaper or more expensive than wheelhouse. If you are seasonal, you can turn them off part of the year I think? It is fixed monthly.

3 properties 12 months a year would be you say $49 monthly? If they make 7500 monthly, that is similar to wheelhouse. Turn it off 5 months a year, it is much cheaper.

If you have property with high revenue, OK makes sense. If low revenue, WH makes sense.

To me, pricelabs and wheelhouse are the only two games in town.

Nov 1, 18
1:28 pm
BlueMtnCabins says:

Well the plus is that if I have no bookings via WH-managed site, I do not pay. Sounds like PL wants to pay whether I have bookings or not. I also did not understand whether paying for multiple channels pricing is extra on top of $49. Mine are year round, but at this point I do not think that my own pricing is so wrong that I absolutely need the pricing tool.

Nov 1, 18
11:00 pm
JTVRs says:

I looked at wheelhouse, they say 1% per booking up to 10 properties.

The claim for using these dynamic prices is a yield mgmt. As hotels do. The claim is perhaps 30-40% more revenue.
Of course, I did not start yet, so not really sure of the truth.

Nov 2, 18
7:53 am
Chris Hynes says:

Yep, I haven't locked in to a dynamic tool for my properties yet either. It seems very cool, and I've looked at some of what it says to do and gotten some good ideas.

But I'm not sure that these tools do substantially better than a few simple rules, like -50% for < 7 days from arrival, -30% for < 14 days, + 20% for > 90 days, + 35% for > 120 days.

That's basically what all of these tools end up doing, right? I wish I had a couple of identical properties so I could run an a/b test between hand setting rates, rules based rates, and demand based rates.

We are talking with BeyondPricing and Wheelhouse to see if we can get integrated with them as well. Are there any other similar tools that are used?

Nov 2, 18
9:40 am
BlueMtnCabins says:

supposedly a little more than that. Since they are plugged into other properties and can "see" occupancy your competition (and supposedly even hotel occupancy), they can tweak price based not only on how far/close in advance, but also based on competitor's occupancy AND they take into account local events. Like having some local festival that may increase tourism (like here in the smoky Mountains few times a year we have antique car shows that draw people from al over the place). Wheelhouse does it better. Like I said BP is very so so esp for my larger property, their price swings are too wildly unrealistic and they do not make suggestions on your suggested base price (Wheelhouse does using some algorithm and gives you several options). .
did using them increase revenue? a little bit but not by 30-40% as they claim. You have to be totally clueless about your own market and seasons and your own prices have to be totally wrong if using the tool increases your revenue by that much.

If I were to look into it, I would focus on Wheelhouse. BP is just not working that good at least not in my market. I would not spend time on it.

Nov 2, 18
9:52 am
Paul W says:

Some of it is about market coverage (ie. geographical coverage). We've been told by users that Wheelhouse and PriceLabs do not cover their market but BeyondPricing does. Vermont came up recently in one such conversation. BeyondPricing had coverage there but not the other two. That affects the situation as well.

Nov 2, 18
9:03 pm
JTVRs says:

In your market definitely is probably the main differentiator

The 30-40% is a nice claim, but another factor is time savings. I am not sold on the concept of simple rules X days out charge this amount or do this in certain seasons. I also don't want to spend time tweaking prices for 7 rentals.

If a dynamic pricer gets me 10% improvement for 1% of the revenue and I don't have to think about it, that has high value to me.

I am leaning towards putting several properties on PriceLabs and similar ones on Wheelhouse, and let them run a year. If one is significantly better, then put them all on that one. I don't believe a couple months is adequate and I am a very very patient person!

Nov 5, 18
6:40 pm
JTVRs says:

"But I'm not sure that these tools do substantially better than a few simple rules,"

I do not agree with this. There is a lot of aspects of seasonality, particular markets, events, how far out, ability to customize, and actual sampling in your market, and other things. And they are able to be practically "Set and forget", preventing you from having to test and tweak. My time also has value on 7 future properties. Even if they cost 1% of your revenue and brought an additional 2%, that would seem worth it!

"Are there any other similar tools that are used?"

EverBooked. But based on a lot of research, I would say Wheelhouse and PriceLabs are the top two, However, 1 of these 4 may be better in certain areas. For example, Wheelhouse coverage centers on a town 13 miles away from mine. But of course, that means they also average in properties in the opposite direction. And mine is a very specific, hip tourist town with whitewater rafting, amazing history, rail-trail, cycling, events, etc. So even being this close, it might price very differently from that town to my town.


Nov 7, 18
6:48 pm
BlueMtnCabins says:

Ross C said:

And they are able to be practically "Set and forget", preventing you from having to test and tweak.

As is said I did "set and forget " with BP and just got several spring break dates booked about $40-50/night LESS than I would have charged (and got, historically) myself .

About WH: Last year they did not set prices correct for local event (solar eclipse) that was crazy popular and could have fetched prices about $40/night more than those they set..

So yes, my time is worth money, but it is definitely worth several nights X$40 doing it myself Vs BP. very disappointed.

Nov 7, 18
8:12 pm
JTVRs says:

That is why I said "practically". There are going to be hiccups like your solar eclipse. But one-off things like eclipses or one-time events are certainly not the fault of the dynamic pricer.

I am on board with not using BP or Everbooked. My research leads me to PriceLabs and WH only. And certainly not the builtin dynamic of something like Airbnb. The OTAs have made themselves almost the enemy of the VR owner.

The following may be insightful on software review site Capterra about 3 of the dynamic pricers.

Wheelhouse: https://www.capterra.com/p/171266/Wheelhouse-Pricing/

PriceLabs: https://www.capterra.com/p/158348/PriceLabs/

BeyondPricing: https://www.capterra.com/p/141284/Beyond-Pricing/

Everbooked: Not reviewed there.

Nov 7, 18
8:15 pm
JTVRs says:

Wouldn't let me edit post. I added:

Standard disclaimer about fake reviews. 1 and 5 star may be faked. I find most wisdom between 2-4 star reviews.

Jul 14, 19
10:11 am
Julie B says:

Has anyone turned on PriceLabs with AirBnb and OR? How's the success rate? Would like to hear of someone using them and how they are doing with their pricing.

Thank you,
Chad

Jul 16, 19
5:21 pm
Paul W says:

Looks like no users have commented on this yet. I can tell you, Chad, that many users do use PriceLabs and we don't see it being turned off much. From what we've heard, they are happy.

Jul 18, 19
12:31 am
Sasquatch says:

Chad, I'm using it on OR and AirBNB. I can tell you that it's increased my bookings a bit, as I'm better able to fill gaps now. But even in cases where I've had the same or even less number of bookings in a month, compared to last year, I've made more money. In some cases around 25% more.

Jul 18, 19
7:40 pm
BlueMtnCabins says:

Not pricelabs but other tools I used for 1.5 years./ namely Wheelhouse (AirBNB and TA) and beyondPricing (vrbo). I can say this - both have missed some "events" locally when the rate should have been raised and it wasn't. Wheelhouse was a bit better. Overall, once you are an established owner and KNOW your market and your competition,. the value of such tool diminishes to almost nothing in my experience. After 1.5 years I turned off. Yes I know it is not PL specifically but similar tools.

Jul 18, 19
11:01 pm
JTVRs says:

That may also depend on your area. The Smokies are a highly efficient place with a lot of supply and lot of demand. My town has several dozen vacation rentals in the vicinity of a small tourist town. We get maybe 1/40 of smokies visitors.

I am of the opinion that if 1% of my Revenue yield a 2% gain, it is worth it. In addition, I don't really want to try to constantly adjust my prices manually. My time has value. Supposedly wheelhouse is in cahoots with an event knowledgeable organization, but it doesn't integrate with ownerrez yet.

Jul 19, 19
10:51 am
Rich S says:

Hey folks - a bit off topic, but still relevant for diy pricing .

I made a screen recording below that shows how to grab a full calendar of nightly rates from a vrbo listing. I retrieved nightly rates from 7/19/2019 - 7/17/2021.

https://p14.f2.n0.cdn.getcloudapp.com/items/2NuxgYKy/Screen Recording 2019-07-19 at 09.37.11.23 AM.mp4

requires using excel but pretty straightforward and much easier than visually retyping rates.

Jul 19, 19
10:58 am
Chris Hynes says:

Yep! You can actually suck these into OwnerRez directly (we use the same method) -- go to Settings > Spot Rates and use the Import from Channel button to pull in the spot rates from VRBO or Airbnb.

You can also export your current spot rates to Excel in the same location, or import a spreadsheet of spot rates to update them.

Jul 19, 19
11:07 am
Rich S says:

Chris - that would only work for your own unit, correct?

My use of this is to gather competitive pricing from 5-10 other properties.

But since you mentioned the capability, could you incorporate this kind of competitive pricing gathering into OR? Perhaps the ability to identify a set of 5-10 comparative properties, click a button and get a table of the competition's rates, with Max/Min/Avg/Median identified per night? That would be awesome ;-)

Jul 19, 19
11:14 am
Chris Hynes says:

It would work for other units as well since we use the same public method you demonstrate in your video. You'd have to create a property for it in OwnerRez, though, to store the information.

Great idea on the competitive analysis tool! Although if that becomes well known I wonder if they will hide the rates on the public pages :-o

Jul 19, 19
2:07 pm
JTVRs says:

That is sort of what pricelabs or wheelhouse do isn't it? For example pricelabs help will show you different price ranges and how many Studio through 5 bedroom units are in each along with other types of information. But they do it for a whole Market not just a couple of units

Jul 19, 19
2:14 pm
Rich S says:

@JTVRs - yes, the same kind of approach. I personally prefer to do the analysis myself, but I'll admit it's time consuming. I just don't trust a software algorithm to find the right comps, or do the proper weighting of tangible differences such as
- which direction a unit is facing (mountain view or side of building)
- full sized fridge or tiny
- degree of updating of furniture
- etc

I'm not dissing any of the dynamic pricing algorithms. They can do things in real time, repeatedly, night after night, week after week, which I cannot. They can detect (I presume) when there is a diminished supply and jack up my price. I find myself generally just reducing price as a date gets nearer, but I sometimes realize (duh!) that I was the last unit available and I rented for $100/night when I might have held out for another week and gotten $200/night.

In any case, my market of VRBO is about 40 comparable units. I don't really have competition outside of the building when I'm located (ski resort, limited condos).

Jul 19, 19
6:41 pm
Julie B says:

So far so good, I turned it on for 1 of the 27 condos and just got our first booking using pricing from them! Woohoo! We will continue to monitor and report back but so far so good... Not having to worry about pricing is key here... I'm hopeful it will produce nice results over time!

Jul 19, 19
7:57 pm
JTVRs says:

Yes, but there Comes A Time you need to let go stop trying to get the last dollar. How much is your time and energy worth? If pricelabs cost 1% of your revenue and brings 2% additional, it was worth it. Nothing stops you from tweaking their prices, as they allow you to override as much as you want. But I doubt over time really is as useful as you suspect. It's like people who just had to screen everyone, while others went with instant booking and said you know it seems over time that it really doesn't make much difference.

Jul 19, 19
7:58 pm
JTVRs says:

" nice results" includes not having to track and worry about pricing for 27 units. Your time is also money.

Sep 6, 19
2:30 am
Hillary S says:

Do you know how to take a list of spot rates in pricelabs and it is now updating into ownerrez. How do I get these rates to update my vrbo listing and keep updating them in pricelabs and then it will keep updating in ownerrez and then all I would need to do is press sync and it will automatically update the pricing from pricelabs into my vrbo listing.

Sep 6, 19
12:29 pm
Chris Hynes says:

Sure thing! You can have pricelabs automatically update the rates into OwnerRez. Then in OwnerRez you can push the rates on to VRBO.

Here's how to set up the PriceLabs integration into OwnerRez: https://www.ownerreservations.com/support/articles/pricelabs

And here's how to push rates from OwnerRez to VRBO: https://www.ownerreservations.com/support/articles/push-rate-airbnb-homeaway-vrbo

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