VRMA Administrator
PriceLabs has landed a $30 million minority growth investment from Summit Partners. The company provides pricing and revenue management solutions to short-term rental owners and managers, using artificial intelligence and algorithms to help operators manage pricing and stay restrictions and increase revenues. “Pricing can be the single biggest growth lever when running any business, particularly in the hospitality space, where most businesses still use archaic methods and static pricing that can leave anywhere from 10 percent to 40 percent of revenue on the table,” said PriceLabs co-founder Richie Khandelwal. Co-founder Sana Hassan added that PriceLabs’ product helps democratize tools that have historically been used by larger hospitality businesses.
PhocusWire (07/28/22) Jill Menze
