1. Guesty For Hosts Help Center
  2. Guesty PriceOptimizer
  3. Informative

Activating Guesty PriceOptimizer

Updated

Important:

If you are already using another smart pricing tool, it should be deactivated before using PriceOptimizer to avoid pricing conflicts in your calendar.

The Guesty PriceOptimizer is a data-driven machine-learning tool that gives you a year-long recommendation for your listing's nightly rate, based on listing details such as amenities, market data such as seasonality, and manual changes you may decide to make. This tool can help you maximize revenue and occupancy while saving you time and minimizing manual mistakes.

Once activated on a listing, the recommended nightly rates will automatically update in the listing's calendar and connected channels and will recalculate on a daily basis. Before activating, please note the following:
  • Use of Guesty PriceOptimizer starts with a 30-day free trial, that can be cancelled at any time.
  • The trial starts from when the PriceOptimizer tool is activated (step 1 below).
  • You must enable each listing for the recommended pricing to apply (step 2).
  • We suggest reviewing the pricing recommendations for each listing before you enable it. You can also follow these instructions to make some adjustments on the listing, before enabling, to see how they affect the pricing.
  • You'll be notified 2 days before your trial ends. After the free trial, for every listing with PriceOptimizer you’ll be billed 1% for each reservation.

1. Activate PriceOptimizer

Step by step:

  1. Sign in to your Guesty For Hosts account.
  2. In the top-right corner, click the diamond icon.
  3. Click PriceOptimizer.
  4. Click Claim your 30-day free trial.
  5. In the pop-up, read then click the tickbox to accept the Terms & Conditions and Pricing Plan.
  6. Click Start your free trial.

Your 30-day free trial period has started. You can now review the pricing recommendations for each of your listings. The pricing recommendations will not apply until you activate PriceOptimizer on each listing following the steps below. 

2. Activate PriceOptimizer on a Listing

Step by step:

  1. Sign in to your Guesty For Hosts account.
  2. In the top-right corner, click the diamond icon.
  3. Click PriceOptimizer.
  4. Click anywhere in the relevant listing to open its pricing information.
  5. Review the pricing information by clicking on the following views at the bottom of the graph:
    1. Current pricing is the current rate of your listing.
    2. Recommended pricing is the Guesty PriceOptimizer pricing recommendation.
    3. Market pricing is the pricing of similar listings with the same specifications currently in the market.
  6. Set the minimum and maximum rate limits in the Pricing Forecast tab. See how to perform this action here.
  7. Click Strategy settings to define your pricing strategy. See how to perform this action here.
  8. When the listing's pricing is to your liking, click on the toggle under PriceOptimizer at the top right of your listing to activate it. Please note that if the listing has not been activated yet or has been deactivated, the toggle will appear dark gray and say "Off."
  9. In the resulting pop-up, click the blue Activate button to confirm.

PriceOptimizer can be turned on or off for each listing at any point. To deactivate, simply click the toggle again. See more information here.

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