Brands are waking up to the possibility of dynamic pricing and driving rich rewards from doing so finds the new Dynamic and Personalized Pricing report from EyeforTravel.

Dynamic pricing, the process of using data to more accurately segment consumers and automatically offer them differentiated prices based on various factors, is being deployed from both within and outside the travel industry. Early adopters include many players in the airline industry, Airbnb and Amazon. So, with so many waking up to dynamic pricing, what are some of these early adopters doing and what are the main lessons?

Airbnb has already built in sophisticated dynamic pricing algorithms to those hosts that select to use them. Property owners can choose to set a price manually or utilize the dynamic pricing algorithms provided by Airbnb to automatically determine the cost per night. The three key factors involved in the automated pricing of Airbnb space are seasonality, day of the week and special events.

Related: Why dynamic pricing will transform travel distribution