How to get started with Lighthouse Pricing Manager

Lighthouse’s Pricing Manager helps you set the right room rates, for the right guest segment, at the right time, through the right distribution channels. 

Lighthouse is trusted by over 70,000 hotels globally and what truly sets Lighthouse apart is its extensive real-time market data. We process over 2 billion rates daily, feeding into the industry's most diverse and trusted data set. 

This robust data foundation allows us to transform complex information into actionable insights for hoteliers like you. 

Pricing Manager leverages these data sets to maximize your room revenue with AI-driven rate recommendations. These rates can be automated across your distribution channels to boost your bookings and save you time, so you can fully focus on your guests.

Not only that, but Pricing Manager is designed to be user-friendly and intuitive, enabling you to make confident, data-driven decisions in a flash without any extra training.

But don’t just take our word for it, take the tool for a spin.

Experience the value before you spend a cent with a free trial

Lighthouse offers a free trial for Pricing Manager which allows you to see how the tool works and how it can benefit your bank balance before committing financially. 

The trial provides access to AI-driven price recommendations and so you can see how automated dynamic pricing can save time and increase revenue. You can explore its features and understand exactly how it tailors suggestions to your hotel.

Get data-driven pricing recommendations

Lighthouse Pricing Manager analyzes market demand, competitor pricing and your hotel's occupancy, among other factors, to suggest the ideal room rates for your property. This dynamic pricing approach means rates adjust based on real-time data to help maximize your occupancy and revenue.

For many users, the cost of Pricing Manager is equivalent to selling just two additional rooms per month. This demonstrates how the tool not only aims to pay for itself quickly but also to significantly boost your overall revenue. 

For instance, one hotel in Sydney doubled its revenue and increased occupancy by nearly 50 percentage points after implementing Pricing Manager's smart recommendations.

To use this feature, you'll start by setting up your hotel details and preferences in the platform. Pricing Manager will set a list of main competitors for you, which you can adjust to ensure the suggestions are tailored to your property's specific market. 

Pricing Manager analyzes your hotel's past and future room pricing and booking patterns, and combines those insights with current market data, including your occupancy and competitor rates, to generate this compset. 

Room price recommendations are then displayed in an easy-to-understand dashboard, showing price suggestions for up to 365 days in advance along with a clear explanation of the underlying reasoning.

Adjust Pricing Manager’s settings to customize your recommendations

Pricing Manager offers flexible settings so you remain in control of your pricing strategy. You can fine-tune how competitor pricing influences your recommendations by assigning different levels of importance to each competitor. 

The optional Autopilot feature allows you to set automatic rate update rules. You can fully automate your pricing, allowing Pricing Manager to control all of your property’s rate changes. Or you can tailor it to your needs, such as only implementing changes when there's a minimum price difference or when your occupancy is within a certain range. 

You can also choose which days of the week Autopilot runs and how frequently price changes are sent to your connected systems and channels.

Settings have been developed to align with your specific needs and strategy. For instance, during peak season or special events, you might adjust settings to be more aggressive, while in the off-season, you might want to focus on maximizing occupancy. 

When you first set up the tool, you can let Pricing Manager's recommendations guide you, and then adjust settings as you become more familiar with its impact on your performance. And you always have the option to override suggested prices if you feel it's necessary.

Automatically update room rates on OTAs with Channel Manager

When Pricing Manager is combined with Lighthouse Channel Manager, you can automate the distribution of your optimized rates to Online Travel Agencies (OTAs) and other booking channels, such as your own website and metasearch platforms. 

This integration ensures that prices, promotions, availability, and restrictions are updated in real time across all your connected channels: increasing bookings,  preventing overbookings and saving you time.

If you’re not using Channel Manager yet, start by connecting  your various booking platforms. The system is designed for intuitive mapping of room types and rate plans, simplifying the connection process. 

Once connected to Pricing Manager, AI-driven rate recommendations can be automatically pushed to all your distribution channels for the next 365 days. This allows for a centralized dashboard to manage your online distribution efficiently.

Leverage data insights to stay a step ahead of the competition

Lighthouse's extensive, real-time data translates into optimal pricing recommendations and a major competitive advantage for hoteliers.

Pricing Manager delivers optimized rates up to a year ahead and also shows you the factors behind its recommendations, such as competitor pricing, local events, and your hotel's booking pace. 

By understanding these insights, such as seeing when competitors are sold out or how your pricing compares for an upcoming event, you can make strategic decisions to adjust your own rates and capture more bookings, or let Autopilot do it for you.

Troy Clarry, who owns and operates two boutiques in New Zealand – Whangaparaoa Lodge and Kerikeri Park Lodge – believes Pricing Manager has given him the edge, as he now leaves less money on the table, spends less time on revenue management and is making smarter long-term decisions. Troy said: 

"Pricing Manager levels the playing field. I can price my way through seasons exactly the same as a chain hotel can. Tools like this were once only available to big chains with massive budgets. What you guys have done is open that up so anybody can actually afford to have the data they need to decide what the price of their room should be at any particular time.”

Read the full success story here.

Quickly clear hurdles with help from our support team

Lighthouse offers robust customer support to help you with any issues or questions. The global support team is available in 14 languages and aims to respond quickly, with an average response time of 100 seconds. 

Support covers everything from understanding pricing recommendations to troubleshooting platform issues. You can get in touch with the support team for assistance with using the platform effectively and making the most of its features.

Learn how Lighthouse can help your hotel stand out from the competition

Pricing Manager is specifically designed to help independent hoteliers stay competitive by automating a dynamic pricing strategy. This drives more revenue for your business and saves you countless hours in your day – so you can watch your bank balance grow, while spending more time delighting your guests.

To discover how Lighthouse can boost your profitability and efficiency, start your free trial today.