What is Smoobu Dynamic Pricing?
Smoobu Dynamic Pricing is a powerful tool for vacation rental owners and managers, enabling automatic price adjustments based variety of factors such: occupancy rates, demand, seasonality, and more. By analyzing these variables, it maximizes revenue potential and occupancy rates through optimal, real-time pricing for each night.
Who may use Smoobu Dynamic Pricing?
Smoobu Dynamic Pricing is exclusively available for Professional Smoobu users. If you're currently on a 14-day trial or using Smoobu Basic, subscribe today to unlock Smoobu Dynamic Pricing and take your property management to the next level!
How much does Smoobu Dynamic Pricing cost?
Pricing costs €12,99 per month per property. The amount is prorated for yearly and 2 year subscriptions. This means that if you have a yearly subscription but only 6 months remain until renewal, you'll be charged for 6 months on Smoobu Dynamic Pricing.
Yearly and 2-year discounts do not apply to Smoobu Dynamic Pricing.
Does Smoobu Dynamic Pricing offer a free trial?
Absolutely! Every Professional Prepaid users receive a 30-day free trial and Teams Pro+ users receive a 60-day free trial to explore the full value Smoobu Dynamic Pricing offers. After the trial period, you’ll be automatically charged unless you disable Smoobu Dynamic Pricing beforehand.
How do I set up Smoobu Dynamic Pricing?
Discover our step-by-step guide to seamlessly set up Smoobu Dynamic Pricing and optimize your pricing strategy
What are the different connection statuses?
| Property is not connected to Smoobu Dynamic Pricing. Address, Rooms & Beds and Amenities must be added in order to connect. | |
| Property is the process of being connected to Smoobu Dynamic Pricing. | |
| Smoobu Dynamic Pricing is successfully connected. | |
| We currently lack sufficient data in your specific location for dynamic pricing. We may still be able to provide service. If you have listings that fall into this category, please send us a ticket. | |
| Connection could not be established. Please reach out to us here. | |
| You have disabled Smoobu Dynamic Pricing for this property. |
How often does Smoobu Dynamic Pricing update?
Prices are continuously updated to reflect real-time market conditions.
Does Smoobu Dynamic Pricing control minimum nights?
No, Smoobu Dynamic Pricing does not adjust minimum night requirements.
Do I need Base Prices entered in the Pricing tab first?
While not mandatory, we highly recommend setting Base Prices on your Pricing tab for optimal performance.
Can I set a minimum and maximum price?
Yes, you can! Go to Configuration / Dynamic Pricing, select your property, and set the minimum and maximum prices.
Establishing a clear Minimum Price ensures you cover all operational costs, even in low-demand periods. Meanwhile, a Maximum Price helps you create a threshold during high-demand times by setting a pricing cap tailored to your revenue strategy.
What is the difference between Data Driven and Rule Based?
Rule-based pricing was designed for users who prioritize control. Here you set 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).
Can I adjust the level of pricing aggressiveness or conservativeness?
- Conservative – Optimized for higher occupancy. Smoobu Dynamic Pricing will lower your prices to attract more bookings, though this may result in slightly lower overall revenue.
- Recommended – A balanced approach between revenue and occupancy. This setting helps you maximize both by offering strategically optimized prices.
- Aggressive – Optimized for higher revenue. Smoobu Dynamic Pricing will increase your prices, potentially boosting earnings per booking, though it may lead to fewer bookings overall.
Rule-based pricing gives you full control, allowing you to align your prices with your expectations. If you've recently remodeled your property, you can increase the base price to reflect the upgrades. Conversely, if your listing is brand new and not yet fully furnished, you can set a lower custom base price. This flexibility enables you to apply your expertise while leveraging our data-driven automation to optimize your overall pricing.
Can I use Smoobu Dynamic Pricing for only certain properties and not others?
Certainly! You may activate Smoobu dynamic pricing for the property/properties of your choice.
Where do we get our data from?
We obtain our data through strategic collaborations with top industry data partners and revenue management software. These partnerships provide access to millions of data points, which are meticulously analyzed and integrated into advanced machine learning models.
Does Smoobu Dynamic Pricing consider special events in the region of my property?
Yes! The model is developed to project local demand based on yearly events like New Year's Eve or Christmas and other annual events on variable dates. These special events are identified and demand is tracked based on your location.
The model evaluates how your home has performed historically in comparison to nearby similar listings and the broader market. This analysis enables the model to capture traveler demand for your distinctive home and recognize the unique qualities that set it apart from other similar properties in the area.
How are prices calculated?
Smoobu Dynamic Prices calculates the optimal price based on:
- Seasonality Impact - Pricing adjusts based on the time of year.
- Local Demand Impact - Considers local events, holidays, occupancy rates, and other factors that affect demand in your area.
- Listing Availability Impact - Optimizes prices for shorter availability gaps (1-3 nights), offering slight discounts to improve booking chances.
- Time Factor - Includes last-minute adjustments, where prices shift as available dates approach.
- Min/Max Restrictions - Ensures prices stay within your set limits if recommendations exceed the max or fall below the min.
Can I use two dynamic pricing tools at the same time?
No, Smoobu Dynamic Pricing cannot operate alongside other dynamic pricing tools.
Can I override prices set by Smoobu Dynamic Pricing?
Yes, you can override prices in bulk or for specific days. Please see this guide under 3b: Prices: synchronize rates including Price and Minimum length of stay 🎥
Can I revert prices I override back to the prices from Smoobu Dynamic Pricing?
Yes, simply click the circular arrows to reset the prices back to prices to those from Smoobu Dynamic Pricing.
How does Smoobu Dynamic Pricing impact pricing on booking portals such as Airbnb?
Based on our algorithm, Smoobu Dynamic Pricing will establish a Base Price in your Pricing tab. This price will then sync automatically to portals like Airbnb and Booking.com, incorporating any percentage adjustments you’ve configured.
How does Smoobu Dynamic Pricing handle pricing for additional guests?
Pricing for additional guests is managed on a per-portal basis. We recommend using Smoobu Dynamic Pricing to generate prices for a minimum number of guests and then applying an incremental charge for each additional guest exceeding that minimum.
For a detailed step-by-step guide, refer to our in-depth guide here.
How to disconnect Smoobu Dynamic Pricing?
We're sorry to hear you wish to stop using Smoobu Dynamic Pricing. We would be happy to answer any questions and highly appreciate any feedback. Please open a ticket from here, and an expert will get back to you as soon as possible.
To stop using Smoobu Dynamic Pricing for an properties, please view our guide here.
Can I revert to prices from before I started using Smoobu Dynamic Pricing?
Yes, when you disconnect from Smoobu Dynamic Pricing, you have the option to revert your prices to their previous values before the connection.
However, please note that any dates without previously entered prices will remain blank.
*IMPORTANT*: We strongly recommend reviewing your Pricing tab and making any necessary adjustments.
Comments
1 comment
I have been trying to get help with my dynamic pricing for 4 days and no-one is getting back to me - i cant save the new base rate - it doesn't save.
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