PriceLabs is a revenue management platform built specifically for bed and breakfasts, boutique hotels, inns, and aparthotels (aka ‘serviced apartments’ outside the US). They price more than 30,000 hotel rooms every day across markets worldwide, powered by a decade of dynamic pricing experience across 150+ countries. Their team includes 300+ revenue experts, data scientists, and product specialists.
What distinguishes PriceLabs is the combination of depth and control. Their algorithm draws on hotel data refreshed every 24 hours through Booking.com, short-term rental data through Airbnb and Vrbo, and competitor data across up to 350 nearby properties. Customers see exactly how occupancy, competitor activity, and market signals influence every rate recommendation — and they can adjust the rules to fit their property’s strategy.
What the Integration Does
The ThinkReservations ↔ PriceLabs integration connects the two systems so our customers don’t have to manage their pricing in isolation. In broad strokes:
PriceLabs fetches reservation, occupancy, restrictions, and rate data from ThinkReservations every 4 hours.
PriceLabs analyzes that data alongside market and competitor signals.
PriceLabs sends rate recommendations, minimum stay requirements, and check-in/check-out restrictions back, which automatically updates your rates and restrictions in ThinkReservations — within the guardrails you have set in PriceLabs, such as minimum low price and maximum high price.
Get Started
To learn more and sign up with PriceLabs, head here: https://hello.pricelabs.co/signup/
Once you're ready to connect PriceLabs with ThinkReservations, follow the steps below:
Step 1: Add PriceLabs application within ThinkReservations
In ThinkReservations, navigate to Settings
Click on Marketplace on the left-hand menu
Find PriceLabs and click Learn More
Choose "Add Application" at the top left
You will be redirected to the PriceLabs settings page, but you can navigate here in the future in the left-hand menu within Settings.
Now, open your PriceLabs account in another tab and follow the steps below
Step 2: Connect PriceLabs with ThinkReservations
Log in to PriceLabs.
Click + Add/Reconnect Listings.
Select ThinkReservations from the drop-down list and click Connect with ThinkReservations.
You will be redirected to ThinkReservations login page.
Once you login, your properties will be pulled into PriceLabs
Step 3: Reviewing & Syncing Prices
Follow the Getting Started guide to set up your listings
Review your pricing and settings in PriceLabs
Enable Sync Prices for automatic updates or click "Sync Now" to push updates immediately
Check your ThinkReservations account to verify updates. Your PriceLabs rates will appear in the Calendar on ThinkReservations as shown in the example below.
From here, management of your integration primarily occurs within PriceLabs. Their team will work with you to configure your account appropriately for your needs
Please note:
You may need to edit your rate types in ThinkReservations, for instance removing any Yield Management plans since PriceLabs will replace them with their advanced logic.
Rate Plan Offset Adjustments
PriceLabs can update all base rate plans in ThinkReservations for a given property. A default rate plan is required for your ThinkReservations property. This is the rate plan whose prices will appear in your PriceLabs calendar for the property. If you'd like to view prices for any other rate plan, simply change the default rate plan.
Upon the first import of a property, the first-rate plan will be set as the default.
Changing and Reviewing the Default Rate Plan
1. Access your listing's Pricing Calendar
2. On the right-side panel, locate "Rate Plan Customization" and click the "eye" icon to access the customization screen
3. In the customization screen, you can select a different default rate plan and apply adjustments. These adjustments can be set as a fixed amount or percentage to the rate plans. There are 3 options under 'Update Type':
Price and Restrictions: Updates both the price and restrictions for the rate plan.
Price: Updates only the daily price.
None: Skips the rate plan entirely.
4. Click "Save Rate Plans" to save and apply your changes.
You're all set up!
NOTE: If a new rate type is added after the listing is connect to PriceLabs, click on + Add/Reconnect Listings to reconnect the listing. This newly imported rate plan will by default have the "Update type" as None under rate plan customization
Next Steps
✅ Review pricing and rules regularly.
✅ Join our Intro to PriceLabs Live Training for further insights.
✅ With these steps, your PriceLabs-ThinkReservations integration should run smoothly!