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Anurag Verma – Cofounder of PriceLabs
In this episode, Avery interviews Anurag from Price Labs, diving deep into how dynamic pricing and revenue management software help property owners maximize their bookings by adjusting prices based on demand, seasons, and special events.
Avery: Hey guys, welcome back to another episode of the short-term show. I have a very exciting guest today. I’m fangirling totally—I have Anurag Verma from Price Labs. Everyone always asks a lot of questions about “what’s in your tech stack,” so today we talked to the property management service that we use. Sorry, I mean the pricing tool that we use, so I’m really excited to have him on today.
Avery: Anurag, how’s it going, my rock god? Thank you so much for this glowing introduction, so excited to have you here!
Anurag: Hey Avery, thank you so much for having me. I’m excited to be here! I’ve been hearing about you guys for a while now and am happy to finally be here.
Avery: Yeah, I’m a fan! We use Price Labs, so I’m always happy to interview and give you guys a platform. So happy to have you here!
Anurag: Totally appreciate you bringing me on—good to be here!
Avery: Alright, for those who may not be familiar, can you start at the beginning? What is Price Labs?
Anurag: Sure! Price Labs is a dynamic pricing and revenue management software. Sounds like a mouthful, but think of it like this: during your peak season, or big holiday, you can charge higher than you normally would. But during your low season, unless you lower your prices, you won’t get booked. A lot of times, at least 10 years ago, vacation rentals had the same price all year round.
Anurag: Now, in high season, things get booked six months out, but during low season, hardly anybody books. What we do is move the prices up and down on both sides—not just increase prices when demand is high, but also lower them when it’s low.
Avery: So you’re trying to improve how much revenue you can make out of your property, and it’s not just by season?
Anurag: Exactly. There are nuances like, it’s not just by season or day of the week. There might be a holiday or an event you didn’t know about causing a lot more people to book, and you can raise prices to get more out of it.
Avery: That makes total sense! Especially during peak times like July, which is a huge month for summer vacations.
Anurag: Absolutely, July is huge for beach properties, and adjusting prices properly during these times is key.
