At its OpenAir Conference in San Francisco today, Airbnb announced a useful little tool to help hosts know the value of their rentals based on location and time of year.
Called Price Tips, the new feature will gather recent data around demand, how much similar listings are renting for and the exact location of the listing to recommend a price that boosts the chances of it being booked.
Airbnb says the tool aims to help hosts adjust prices according to various times of year – like dropping them during low travel season or increasing the rate a bit during popular festivals.
The company believes that over time, the tool will be able to gather more data about how these price shifts affect booking success rates. Right now, however, Airbnb notes that these tips are merely that – tips – and do not guarantee more bookings. It’s better than Googling around for a random internet forum for help, we suppose.
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The feature is expected to roll out gradually, starting today.
➤ Airbnb
Read next: I bought an apartment specifically to rent out on Airbnb
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