New to Hospitable - Pricing with Airbnb

Welcome ​@matthallett! Most of us gross-up our rates by 18.34% so that after the 15.5% Airbnb fees, you net the same as if there were no fees. This is configured under Settings > Preferences > Properties > Pricing Markup Rates.

Don’t forget to mark up your cleaning fee too, because Airbnb takes 15.5% of that as well.

​@matthallett to clarify what I said above… the markup you set under Preferences only applies to nightly rates, not cleaning fees. You need to manually do the math on your cleaning fee and set it to exactly what you want Airbnb to charge the guest. 

This was extremely helpful. thank you ​@Tom Beerley .  Amazing.  Much appreciated.

1. Do you see this mark up when looking at places like your Calendar? 
2. Do you like to use any pricing tools to analyze how you are doing in the market outside of just trusting the Dynamic Pricing capabilities in Hospitable? 

​@matthallett The Hospitable calendar will show your “base pricing” before the markup. The markup gets applied during the process of pushing prices to Airbnb, so if you look at the Airbnb calendar that’s where you’ll see the higher prices reflected.

Before Hospitable introduced their own dynamic pricing, I’d say PriceLabs was the main pricing tool people used. Beyond Pricing and Wheelhouse are two other semi-popular ones. I personally use Beyond but I’m keen on switching to Hospitable’s (for the cost savings) as soon as I have time to fine-tune Hospitable’s settings to somewhat approximately what Beyond has been doing. 

One thing definitely worth doing, because it’s free, is to create a PriceLabs account and hook it up to your Hospitable listing(s). Just don’t turn on “price sync” or “price posting” or you’ll then need a PriceLabs subscription and it will take over your pricing in lieu of Hospitable’s dynamic pricing.

With PriceLabs in “free” mode, hooked up to your Hospitable listing(s), you’ll be able to use a whole bunch of PriceLabs tools and reports… see overall market data, study specific comps… and can even see what PriceLabs “would” be pricing your nights at, without actually giving it control of your pricing. 

The reason PriceLabs lets you use their stuff for free like that is because they are getting something valuable from you in return -- namely, your own booking and rate data that can be used to feed their engine. 

​@Tom Beerley is my new favorite person.