AirDNA dynamic pricing engine integrates with Futurestay
The new integration is designed to give small independent rental businesses full control over their pricing strategies, with the ability to automate their pricing for Airbnb, Vrbo, and Booking.com based on real-time database.
The sharp increase in demand for short-term rentals in 2021, combined with a lack of available supply in major destination markets, means that rates are set to continue to rise. AirDNA expects a national average increase of around 6% in the United States this year, making overnight rates one of the most important aspects of running any vacation rental.
Owners are therefore in an ideal position to maximize their income when they have data to back up tailored pricing strategies, according to AirDNA.
AirDNA CEO Scott Shatford said, “The partnership will further democratize short-term rental data for thousands of small businesses and entrepreneurs, helping them thrive and directly compete with professional accommodation providers. We built this integration with Futurestay because they understand the importance of giving these hosts the right tools and the right data to be successful.
The integration aligns with Futurestay’s mission to simplify end-to-end management operations; hosts of all experience levels will now be able to compete with real estate operators of any size by automatically pushing tailor-made prices to the best accommodation platforms.
Futurestay CEO Philip Kennard said: “70% of short-term rentals are managed by entrepreneurs, individuals and independent managers seeking success in an increasingly complex market. Futurestay and AirDNA’s partnership level the playing field, providing small businesses with high-quality data, pricing and automation technology that rivals that used by global hospitality leaders.
AirDNA’s Smart Rates Pricing Recommendation Tool is designed to give hosts a competitive edge with personalized pricing suggestions that maximize both revenue and occupancy.
Although the sending of daily prices to Airbnb, Vrbo and Booking.com is automated, customers have complete control over their pricing strategy; they can set minimum and maximum rates, focus on occupancy versus maximum ADR [average daily rate], adjust preferences on aggressive or conservative prices and orphan discounts. They will be able to see at a glance how days of the week, real-time demand, lead times and seasonality affect recommended rates.