How to set up Smoobu Dynamic Pricing

What is dynamic pricing?

Dynamic pricing tools can help you generate additional revenue by optimizing your rates. 

By constantly monitoring market activity, a Smoobu's dynamic pricing tool automatically adjusts your rates to stay competitive. For example, if similar properties lower their rates on a certain date, Smoobu's dynamic pricing tool will lower your rates accordingly. If availability in your market decreases, Smoobu's dynamic pricing tool can increase your rates to take advantage of demand. 

How to set up Smoobu Dynamic Pricing

1. Please click Configuration / Dynamic Pricing

2. Click Subscribe

3. Agree to the Terms and Conditions

4. Under Property Settings, select the Currency. This is applicable to all properties. 

5. Enter the Address, number of Rooms and Beds, and Amenities  

 

6.  Enter the Minimum and optionally the Maximum price 

 

7. Click Save Property Data. 

 

8. Select a Pricing Strategy and click Save Property Data

• Rule-based pricing was designed for users who prioritize control. Here you your own ideal price for your listing before we adjust for daily demand.  
• Data-driven pricing leverages real-time market data to optimize your pricing. Here you choose from Conservative (Optimized for higher occupancy), Recommended (a balance between Occupancy and Revenue), or Aggressive (Optimized for higher revenue)

Repeat Steps 1-8 for each additional property. If you don't have any more properties, proceed to Step 9.

9. Return to the Connection Status page. Toggle on dynamic pricing for each property. 

10. You will see that your property (or properties) are now connecting.

11. Once successfully activated, you will receive a notification in your account and properties will show as Connected on the Smoobu Dynamic Pricing page.

Have questions? 

Need help? 

Our Customer Service Team would be happy to answer any questions or feedback you may have. Feel free to open a ticket from the top right of your account under Help or from here. An expert will get back to you as soon as possible.