Ep 20 - Maximizing Your Profits Through Dynamic Pricing with PriceLabs Co-Founder Anurag Verma

GUEST BIO

Anurag Verma - co-founded PriceLabs five years ago to bring revenue management automation prevalent in airlines and hotels into the vacation and short-term rental industry. He has spent six years designing and improving revenue management algorithms and systems at United Airlines in Chicago while working closely with revenue managers and data scientists within the company. He has a Ph.D. in Operations Research and loves all things numbers.

HIGHLIGHTS OF THE EPISODE

03:44  Anurag’s introduction

04:55  Anurag’s background and what got him into the industry.

09:38  Is PriceLabs different from before when they got into the short term rentals?

12:03  How do you know whenever a market is very popular?

15:18  How does PriceLabs monitor if Beyonce’s in town? How does that work?

18:33  Does their data pull exclusively on short term rentals or hotel data as well?

20:09  How do they set their base rates?

23:01  Is there a way that their machine has now learned to help with pricing for long term stays?

30:31  When does it make sense to deviate from the boilerplate templates to create a custom profile?

34:55  Where do you see the industry going?

40:39  Can someone give you their data for PriceLabs to run an analysis on?

44:35  Where can people learn more about Anurag Verma, PriceLabs, and all the tools that they can offer?

45:25  Anurag’s #1 secret in being successful as an Airbnb host?

NOTABLE QUOTES (KEY LESSONS):

"There's plenty of video's and tutorials and not support as pretty good as

to well to like, help you figure out what you should do at someplace." - Anurag Verma

“Be mindful of what goes in it. If you don’t pay attention to the input, sometimes the output is gonna be wrong.” - Emanuele Pani

“There are systems for streamlining a lot of things so that the last thing you’ll want to be doing is sitting in front of the computer all day changing things.” - Anurag Verma

CONNECTING WITH THE GUEST

Website: PriceLabs.co

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