RedAwning Launches Smart Pricing with PriceLabs
Industry First Combination of Hotel-Like Revenue Management Expertise with Deep Hospitality Data
EMERYVILLE, CA – (February 20, 2020) — Emeryville, CA — RedAwning.com, the leading hospitality platform for short-term rentals, today announced it has partnered with PriceLabs, the leading revenue management platform for vacation and short-term rentals, to provide an industry first “Smart Pricing” solution which combines the revenue management expertise with a data-driven pricing algorithm & automation rules for the short-term rental industry.
Vacation property owners and select property managers partnering with RedAwning can now use RedAwning Smart Pricing to optimize pricing and occupancy with daily rates updated at least once a day, based on market data and property specific data including seasonality, day of the week, special events, market occupancy, property occupancy, and market demand. For destinations with higher hotel inventory availability, hotel occupancy and pricing is also included in the algorithm. The RedAwning team will work directly with each owner or manager to configure Smart Pricing to best suit the needs of each property. RedAwning will instantly process these daily updated rates to present them on every major channel where guests shop for travel.
Smart Pricing adds to the industry’s most comprehensive suite of tools and solutions made available as part of RedAwning’s short-term rental hospitality platform.
“In the world of global distribution and instant booking, where hotels and short-term rentals compete for the same customer, having dynamic, market-appropriate rates is a necessity to maximize revenue. This requires both a sophisticated team and a sophisticated technology ecosystem. By combining RedAwning’s global marketing platform with PriceLabs revenue management system capabilities, we’ve created the most seamless and powerful toolbox to maximize revenue for each and every home. With the right price and the right distribution and promotional merchandising, our properties are set up to succeed more than ever before,” said RedAwning CMO, Heather Richer.
“PriceLabs is excited to partner with a powerful marketing platform like RedAwning. We understand pricing algorithms and revenue management levers. With RedAwning’s marketing platform, a fully integrated commercial strategy can come to life,” said Anurag Verma, Co-founder of PriceLabs.
RedAwning is the leading hospitality platform for short-term rentals. We offer the only end-to-end suite of technology and service solutions to drive property reservations and improve every stay for guests and hosts alike. With over 100,000 unique properties in over 10,000 destinations, RedAwning presents the largest single collection of instantly bookable properties to the largest network in the world for short-term rental lodging. RedAwning has served over 1,000 property hosts and over 1,000,000 travelers to date.
RedAwning services include 24/7 guest and host support, complete marketing, digital and revenue management solutions, global distribution, payment processing and reservation management, and exclusive solutions to improve guest hospitality. Technology innovations include instant API connectivity to every major travel website, a mobile app for hosts and guests, a web-portal for management, fully serviced and self-managed websites, and RedAwning’s proprietary in-home virtual personal assistant, the “Smart Concierge.”
RedAwning is a leading supplier of properties to every major online travel booking website including Booking.com, Expedia, Vrbo, TripAdvisor, Airbnb, and many others. RedAwning also operates exclusive vacation property booking websites, including RedAwning.com, Leavetown.com, and RedAwning TravelPro, a platform designed exclusively for 5,000+ Travel Advisors.
RedAwning has been a leading innovator in the short-term rental industry since 2010, with a mission to redefine short-term rental hospitality by combining the ease, trust, consistency, service, and benefits of a hotel stay with the extraordinary diversity and value of short-term rental properties. RedAwning’s products and services drive new approaches that make the booking experience more consistent, easier, safer and better for all. RedAwning is backed by Silversmith Capital Partners, Elephant VC, and Alpine Pacific Capital.
To book the RedAwning Collection, please visit www.redawning.com
PriceLabs is an innovative and easy to use revenue management platform for the vacation and short term rental industry.
The company helps owners & property managers generate more revenue by helping them optimize their prices & length of stay restrictions. Without automation, owners & property managers either leave money on the table or spend a lot of time doing rote activities that could be spent building great customer experiences & growing their business.
Our team has several years of experience in revenue management, travel distribution, technology and analytics, and has put all that experience to making a leading revenue management solution for the vacation and short term rental industry.
Used by thousands of owners & property managers around the world to increase revenue while spending less time adjusting calendars, PriceLabs lets you focus more on what truly matters!
To learn more, please visit www.pricelabs.co