How Pricepoint’s intelligent system tailors pricing strategies to maximize revenue and stay ahead in the market.
Pricepoint’s AI-powered pricing system analyzes various factors to provide optimized pricing recommendations tailored to your property’s unique needs. Here’s a breakdown of the core factors considered in the process:
Market Trends
This factor evaluates price trends among nearby properties within the selected market. While it does not automatically adjust your prices to match competitors, these trends are incorporated into the overall pricing calculations for broader market context.
Pace Factor
The pace factor measures how quickly bookings are being received for a specific date. For example, if 80% occupancy is reached for an upcoming date, but no bookings have been made in the past two weeks, the pace is considered slow. This helps gauge whether additional pricing adjustments are needed to meet occupancy targets.
Occupancy Factor
This factor assesses the number of rooms already booked for a given date. While high occupancy is favorable, it is not evaluated in isolation. The pace and booking window factors are also considered to ensure accurate pricing adjustments.
Booking Window Factor
The booking window factor looks at the remaining time to sell rooms for a specific date and compares it to typical booking behaviors. This ensures the pricing aligns with how far in advance guests typically book.
Event Factor
Scheduled events, such as conferences or concerts, are analyzed for their potential impact on demand for a specific date. This factor helps Pricepoint recommend pricing adjustments to capitalize on heightened interest during these events.
Booking Curve Factor
This factor compares actual demand trends to previous forecasts, allowing adjustments to pricing when actual bookings deviate from expectations.
Seasonality
Pricepoint evaluates how the performance of a specific date, month, or week compares to historical and expected booking dynamics for that time of year.
Compset Behavior Factor
This factor analyzes the behavior of competitor properties (your compset). While Pricepoint does not directly follow competitor price changes, it incorporates these movements into its calculations to provide a comprehensive market perspective.
The Pricepoint Advantage
By combining these factors, Pricepoint ensures that pricing recommendations are accurate, data-driven, and aligned with both your property’s goals and market dynamics. This holistic approach helps maximize revenue and maintain a competitive edge.
Optimize your pricing with confidence using Pricepoint’s intelligent, multi-factor system!