The first stage of any dynamic pricing model is to set your base price, although this can be updated at any time in the future. It is the core part of your model that your settings will then be applied against.
Base price is unique to each property, our platform won't provide you with a base price but what we can do is help provide you with the data in order to select the right base price and using our help tool can help you achieve this.
The help tool uses a competitive set and provides you with low, mid and high-end prices based on this selection. We will first create a default set based on your listing characteristics, we would then always advise that you filter and fine-tune this set for more accurate results.
Update & Fine Tune The Competitive Set
Projected Average Monthly ADR
At the bottom of the help tool, we provide an updated chart based upon what you have entered your base price to be on the left-hand side. Update this input will also update the below chart. The chart provides you with the average price for your property for each month over the next year. We apply standard data-driven settings to your base price and do not include any of your custom preferences, this is simply to give an indication of what your prices would be.