How to Set the Right Base Price in PriceLabs (Without Guessing)
A repeatable 6-step framework for setting base price in PriceLabs using AirDNA comp data, your own pacing, and seasonality multipliers — instead of the default suggested base.
Why the default base price is almost always wrong
PriceLabs' suggested base is a wide-area median that ignores your sub-market, your photography quality, and your review score. Operators who accept the default usually leave 12–22% on the table — either by pricing too low against premium comp set or pricing too high against the realistic conversion curve of a new or under-reviewed listing.
The 6-step base-price framework
1. Build a comp set of 8–12 listings within 1 km that match your bedroom count and quality tier. 2. Pull their last 90 days of bookings from AirDNA. 3. Calculate the comp-set median ADR for the same season window you're pricing. 4. Adjust ±15% for review score delta (4.95+ vs 4.7 vs new). 5. Adjust ±10% for amenity delta (pool, view, parking, workspace). 6. Set base equal to that adjusted median for high season; PriceLabs' seasonal profiles handle the curve down to shoulder and low.
Validate with a 30-day rate test
Hold base for 30 days, watch pacing daily. If you fill faster than the comp set's average lead time, raise base 5%. If you fill slower, drop 3% and audit listing merchandising before dropping further.
Frequently asked
Should I trust PriceLabs' suggested base price?+
Use it as a starting point, not a final answer. The suggested base ignores review score, amenity delta, and sub-market positioning. Adjust ±10–20% based on your own comp set.
How often should I update base price in PriceLabs?+
Quarterly at minimum, monthly during high season. Always after a major review-score change, a portfolio-wide photo refresh, or a meaningful amenity upgrade.
What's the difference between base price and minimum price?+
Base price anchors the seasonal curve; minimum price is the floor PriceLabs will never go below regardless of pacing. Set minimum at 60–70% of base for most markets.
Can I have different base prices by season?+
Yes — use PriceLabs custom seasonal profiles to override base by date range. Most luxury operators run 4–6 seasons (peak, high, shoulder, low, plus 1–2 event windows).
