Question 1

What is dynamic pricing?

Accepted Answer

Traditionally you would set a price for a room and keep it unchanged for days or weeks. Dynamic prices it is a strategy that continuously analyzes the demand and adjusts prices to keep them at an optimal level in response to demand at a given moment in time. This flexibility allows capturing the right customer, at the right time, and in turn, maximize revenue.

Question 2

What are price recommendations?

Accepted Answer

These are prices suggested by Pricepoint’s Artificial Intelligence. Let’s say you’re offering an $80 double room for the first week of December. Pricepoint will find optimal rates for each date. If $75 is better for December 5th, and $85 is better for December 6t. These price recommendations are automatically and instantly sent to OTAs together with a notification to you.

Question 3

How much will my revenues increase?

Accepted Answer

We cannot tell for sure that your revenues will grow x % as it depends on lots of factors. What we can say is that in all properties using Pricepoint we saw a positive change from 10 to 25% in revenues.

Question 4

Can I try with just one room?

Accepted Answer

Theoretically, yes. Practically we don’t recommend it as it may create the effect of so-called cannibalization, so sales of one room decrease because of the increase in the sales of another room. Your room performance may be cross dependent.

Question 5

How can I test it?

Accepted Answer

When your account is ready, Pricepoint will first analyze your bookings and then it will generate a new set of prices. In the first days and weeks, you can track the progress by observing a change in your daily and weekly pickup.

Question 6

How quickly will I see my revenues grow?

Accepted Answer

Most likely just after the first week you will see a positive impact on your pickup. However, to compare revenues we need to let Pricepoint run for a couple of weeks as you are receiving bookings 2 or 3 months in advance.

Question 7

When are the recommendations generated?

Accepted Answer

Pricepoint creates recommendations whenever there is a change in the circumstances related to a specific room type and stay date. The most common case is the change in availability. It means that whenever there is a new booking (modification or cancellation) which can be automatically processed from your PMS, Pricepoint may generate a new price.

Question 8

How do I know about a new price recommendation?

Accepted Answer

Whenever there is a price recommendation, Pricepoint will push the prices to PMS and OTAs together with email notification.

Question 9

How do I accept price recommendations?

Accepted Answer

It’s all automated. You do not need to do anything besides observing the results.

Question 10

Are price recommendations automatically applied to OTAs?

Accepted Answer

Yes!

Question 11

Can I start using Pricepoint now?

Accepted Answer

It’s easy.

1. Sign up for a free trial.

2. We will set up your account.

3. Let Pricepoint manage the prices to increase your revenues!

Question 12

What do I need to get started with Pricepoint?

Accepted Answer

To run its analysis the most effectively, we need to get access to your past bookings. Pricepoint is the most effective with 2 years of past bookings but it can also work without historical data. It will simply take more time to learn your property booking trends. Don’t worry, we will get all your bookings (without guests’ personal data!) from your PMS. It is all automated

Question 13

What if I don’t have any past bookings?

Accepted Answer

You can still work with us! Pricepoint will just need more time to pick up your booking trends and give you solid price recommendations. Contact us for more information.

Question 14

Can I try Pricepoint for free?

Accepted Answer

Sure! We offer a 30-day with no strings attached.

Question 15

Is there a fixed-term contract?

Accepted Answer

No, there is no fixed contract. We don’t believe in locking you in. You can cancel at any time.

Question 16

Can I use Pricepoint on my phone?

Accepted Answer

Definitely! Pricepoint has a web and mobile app for iOS and Android.

Question 17

How does the Pricepoint create price recommendations?

Accepted Answer

There are two main steps to create price recommendations. Accurate forecasting is the first step. Pricepoint uses cutting-edge algorithms to generate forecasts in real-time, analyzing not just historical data but also recent booking trends. Then, Pricepoint’s price optimization engine takes this data and applies operational research techniques, to create the set of optimal rates for the given demand on each date. Pricepoint’s simulation engine ensures the high quality of its calculations. It applies advanced statistical methodologies to analyze the multitude of possible scenarios and conclude with the most probable vision of the future.

Question 18

How often are price recommendations generated?

Accepted Answer

There is no fixed schedule for price recommendations. Pricepoint analyzes the situation in real-time. Its algorithms will look for new, optimal pricing, whenever there is a change in your bookings or availability, or simply because time has passed. Once Pricepoint finds these better rates, it will send you a push notification with price recommendations.

Question 19

How do I connect Pricepoint to my PMS or channel manager?

Accepted Answer

It’s easy as we do it for you. Contact us to find out if your PMS is already integrated with Pricepoint.

Question 20

How do I connect Pricepoint to my OTAs?

Accepted Answer

We will either push your prices to your PMS which will handle price updates or Pricepoint will handle pushing prices to OTAs. It depends on PMS you are using.

Foire
Aux
Questions

Que faire si je n'ai pas de réservations passées ?

Comment connecter Pricepoint à mon PMS ou à mon gestionnaire de canaux ?

Comment connecter Pricepoint à mes OTA ?

Que faire si je n'ai pas de PMS ou de gestionnaire de canaux ?

À quelle fréquence les recommandations de prix sont-elles générées ?

Comment Pricepoint crée-t-il des recommandations de prix ?

FoireAuxQuestions