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Tutorial – How to Figure Out Your Base Price Based on Your Competitors

Introduction

⚡️Airbtics' CompSet offers you all the data you need to optimize your pricing.

💡 Get in-depth insights from present data and future predictions for your market.

🕒 5-minute read

CompSet Feature Tutorial

To create a CompSet, the first thing you need to do is search manually for your desired area or create it with the Tailored Region Feature.

dashboard

At the top left of the dashboard, just beside the search bar, you’ll find the menu. Click “CompSet.” 🖱️

dahsboard-menu

In the CompSet dashboard, a map will pop up, and here you can customize the location you’ll set for your CompSet. You can either keep the area you selected in the previous dashboard or draw a new area. Once you’re done, press “Only include listings in the map.” 🗺️

compset-map

map-area-drawn

The next step is to set up the filter. Make sure to fill in the “CompSet Name” field and adjust the other fields as you prefer. When you’re finished, click “Create CompSet.”

draw-a-shape

The CompSet is ready! 🎉 Now you can navigate through the different tools available.

CompSet Tools

  • 365 Days’ Available and Booked Daily Rates 📈

In this tool, you can zoom check the next 365 days’ available daily rates and booked daily rates for your selected area.

Zoom in on the actual and upcoming months by sliding the little gray circle at the right corner into the left part of the bar (first image), and zoom in on more distant months by sliding the little gray circle at the left corner into the right side of the bar (second image).

365-tool-zoomin

365-tool-zoomout

  • Competitive set 📅

Check the data of all the properties in your area, including:

✓ Title of the listing (with a link to the listing)

✓ Host name

✓ Room type

✓ Number of: Bedrooms, beds and bathrooms

✓ If the listing has a pool

✓ All amenities

✓ How many people it accommodates

✓ Cleaning fee amount

✓ Minimum nights

✓ Number of reviews

✓ Listing count of the host profile

You can also view the next 365 days’ pricing data. To know what the colors on each cell mean, rest the mouse on the exclamation mark next to the tool name and a pop-up message with the explanation will appear. 💬

compset-colour-meaning

You can also remove listings manually from the CompSet. 🚮

delete-listings-manually

Lastly, you’ll see graphs for different insights. 📊

  • Available Daily Rate: In this graph, you see estimated pricing for hosts’ available nights in the next X number of days.

adr-chart

  • Occupancy Rate: Here we can appreciate a prediction of the occupancy rate in the next X number of days.

occupancy-rate-chart

  • Booking Lead Time: This graph represents the property’s percentile of how many days in advance the listing is booked from the actual date of the booking.

For example, 10th = top 10% shortest booking lead time, which in this graph equals 3 days.

blt-chart

  • Average Length of Stay: Here's the percentile of the average length of stay per booking. For example, 25th = 25% percentile, which equals a 3-day stay here.

alos-chart

If this isn't enough

Please send us an email via [email protected] and we are happy to find a way to help you out.