Nick and Sarah talk to Siana from Price Labs, about the dynamic world of property investment and short-term rentals. Siana shares insights into Price Labs, a revenue management solution for the hospitality industry, and explains how dynamic pricing works to optimise revenue and occupancy levels. They also delve into the challenges facing the industry, such as fluctuating occupancy rates and increasing competition in the UK market, and highlight emerging trends in hotel tech, including the use of AI and the focus on creating unique experiences for guests KEY TAKEAWAYS Price Labs offers a revenue management solution for short-term rental and hospitality industry, helping increase revenue by combining human control with automation, market data, and customisability. Dynamic pricing is not just about matching competitors' prices but involves considering demand, seasonality, and specific property features to optimise pricing. Price Labs provides tools like Revenue Estimator Pro and Market Dashboards to help operators estimate potential earnings and analyse market trends before investing in a new area. Price Labs is suitable for various types of properties, including short-term rentals, hotels, villas, and service departments, with tailored settings for different property types. The future of hotel tech involves trends like AI, mobile technology, sustainability, and creating unique experiences for guests, emphasising the importance of adapting to changing market dynamics and customer preferences BEST MOMENTS "I think it's about partnering with other hospitality businesses in your local area that can add to that experience whether that's food or theatre." "I used Price Labs previously for the Southport property, but I didn't use it in Edinburgh." "AI is used in so many different things, or it's starting to be used in so many different things at the moment, either to provide very fast 24-7 responses to guests." VALUABLE RESOURCES This Property Life - https://podcasts.apple.com/gb/podcast/this-property-life-podcast/id1540075591        Property Wealth System YouTube - https://www.youtube.com/c/PropertyWealthSystem     ABOUT THE SHOW This Property Life is hosted by the team at Property Wealth System. We are a collective of experienced active investors passionate about all things property. Caroline Claydon has over 22 years experience in investing in property but it’s only the last 12 years she’s operated as a professional investor.  Her and her husband have built their portfolio throughout the UK covering strategies from buy to let’s, social housing, HMOs, developments and more recently a hotel.  She has travelled the world training people for the last 10 years on how to invest, scale and accelerate their UK property businesses regardless of where they are based.   Caroline loves helping people reach their full potential by changing their mindsets to money, debt, property and investing.  CONTACT METHOD You can join Caroline and James along with a whole host of other like-minded investors in the Property Wealth System Facebook Community: https://www.facebook.com/groups/propertywealthcommunity Caroline Email: [email protected] Caroline Linkedin: https://www.linkedin.com/in/caroline-claydon-property/ Hosted on Acast. See acast.com/privacy for more information.

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