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How To Use Pricelabs Effectively w/ Anurag Verma
Description
Before he co-founded PriceLabs, Anurag Verma spent six years at United Airlines building revenue management algorithms. In 2014 he brought that thinking, and a background in math and statistics, into short-term rentals. Myka and Steve get him to explain how to actually use the tool.
The part most hosts miss is that pricing is not just the nightly rate. Anurag walks through the minimum-stay rules that do the real work: setting a 30-night minimum in the days right after an existing booking, then requiring 60 nights from someone who would otherwise strand a 20 to 30 night gap on your calendar. If a guest is going to burn 25 nights of your availability, they had better be booking a long stay.
He also takes on Airbnb Smart Pricing head-on, explains what separates a real dynamic pricing tool from a toggle, and makes the case that automation only pays off when you can customize it once and stop checking it every day.
And the OTA math worth writing down: price each channel so your net is roughly the same after Airbnb takes its cut, and mark up direct bookings a little too, because advertising is not free either.
IN THIS EPISODE
1:10 - Anurag’s background: six years of revenue management at United Airlines
2:48 - How dynamic pricing has changed, and why data quality is the difference
10:10 - Discounts, gap nights, and not wasting availability
13:03 - Airbnb Smart Pricing: what it actually does to your listing
20:08 - What separates a good pricing tool from a bad one, and why automation needs customization
32:00 - Pricing across Airbnb, Vrbo and direct so your net comes out the same
Holler at Steve and Myka! www.liveletthrive.com
Work with us. Interested in professional management or consulting?
Myka — Sharebnb: www.sharebnb.com
Steve — Argest Rentals: www.ArgestRentals.com
Sign up for PadSplit with Steve's link and get a free 1-on-1 PadSplit strategy call with Stevie Stacks: padsplit.com/hosts
Myka's other podcast, Entrepremarriage — building wealth without losing the marriage: youtube.com/@Entrepremarriage
All our links: linktr.ee/liveletthrive
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