Ep 128 - New Pricing Strategies for 2023 with PriceLabs's Anurag Verma

This podcast episode of "Short Term Rental Secrets" interviews Anurag Verma, co-founder of PriceLabs, a dynamic pricing tool for short-term rentals, to discuss current market trends and strategies. The hosts and guest analyze the slowdown in bookings year-over-year in many US markets (excluding major cities), attributing it to a combination of post-pandemic normalization and economic uncertainty. They emphasize the importance of monitoring RevPAR (revenue per available room) and adopting a data-driven approach to pricing, rather than solely focusing on occupancy or nightly rates. Verma highlights the new "pacing charts" feature in PriceLabs, which provides forward-looking data to help hosts anticipate and adjust to market fluctuations. The discussion also covers Airbnb's recent changes to cleaning fee display and the benefits of diversifying booking platforms and building a direct booking website to reduce reliance on OTAs.