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Startup Vacasa Is Utilizing Machine Learning And AI To Determine Vacation Rental Pricing

#artificialintelligence

While Airbnb brought enormous attention to the short-term vacation rental space, more specialized players are now entering the industry, bringing differentiated offerings to a new trend in hospitality. As the amount of vacation rentals available flourishes, the trickiness in pricing rentals relevant to demand and the competition becomes more critical. Portland-based Vacasa, currently the second largest vacation rental management company in the United States, is bringing a new pricing model that utilizes machine learning and artificial intelligence to the industry to combat this issue. I was able to stay at one of Vacasa's properties in La Quinta, California, shortly before the Coachella Music festival kicked off, which brought in huge wave of demand for vacation rentals for festival goers in the Coachella valley. The new dynamic pricing technology, Yield Management 2.0, will set pricing for more than 5,000 vacation rentals across the country.