Beyond’s comprehensive suite of tools makes it easy for short-term rental property owners and managers to unlock new ways to make more money with their vacation rentals. More than 340,000+ listings in over 7500 cities worldwide use Beyond and have seen as much as a 40% increase in annual revenue.
Our team of Revenue Managers and Data Scientists, offering combined industry experience of more than 50 years, incorporates A/B testing into Beyond’s Algorithm to provide property managers and owners with optimal pricing for every season effortlessly, saving their valuable time.
In April 2023, Beyond launched search-powered pricing and search data visualization, which is the first time search and consumer demand data has been integrated into any platform in the vacation rental industry. We have empowered property managers to adjust their pricing based on consumer search patterns – allowing them to implement a proactive strategy instead of a reactive one. So far, search-powered pricing has generated more than $5 million in additional revenue for Beyond users.
Our enhanced revenue management solution incorporates consumer search data into our pricing algorithm, so we can automatically increase or decrease rates based on demand for that night to capture the most bookings. The algorithm calculates seasonality, events, and day-of-week factors that are then applied to the listing’s base price.
The visualization of this consumer search data is available, along with customized competitive market data to assess if listings are overperforming, underperforming, or meeting market expectations. The dashboard shows guests’ preferences too. This enables users to make data-driven decisions and recommendations to owners that will directly impact their bottom line, such as ad spend optimization, property investments that will give them the most bang for their buck, pricing, customization adjustments, and website improvements.
This data unlocks key information for Property Managers such as how many visitors convert to paid guests, where guests are searching from, what they are searching for, & when they are searching. Property managers who used search data vs those who did not saw at least a 9% increase in RevPAN (revenue per available night). We have received positive feedback from our customers who have seen significant returns after switching to our dynamic pricing tool. For instance, a UK-based property manager who previously did their own pricing saw a rapid increase in revenue after switching to our tool. Additionally, we have received anecdotal evidence from customers who switched from competitors’ pricing tools to ours and saw improved returns as saving time and revenue increase.
Beyond’s solution also has other features to empower property managers to maximize revenue and occupancy rates, maintain competitive pricing, and identify negatively trending demand periods while attracting more guests:
- Availability Yielding to increase occupancy on dates that are likely to go unbooked
- Low Demand Event Detection
- Seasonal Pacing
- Last Minute Discounts
With these features, property managers using Beyond reduce the amount of manual work needed for a successful pricing strategy and make informed decisions based on market changes.
Beyond’s Revenue Management team is constantly reviewing and analyzing the raw data we have from more than 340,000 global listings, to identify patterns and develop new ways to improve our pricing algorithm. We know these adjustments to our algorithm are consistently helping our users make more revenue and grow their business.
Users of Beyond usually increase their occupancy rates by 12%, reservations by 21%, and double their repeat bookings from direct sites. Property managers who use Beyond’s Dynamic Pricing vs another Dynamic Pricing software see an average of 16.47% more revenue. And, Property Managers using Search Data in their revenue management strategy increased RevPAN (revenue per available night) by 9%. Users of Beyond with nights priced with Search Powered Pricing see a 15% increase in booked reservations’ Average Daily Rates (ADR).
Beyond improves performances and boosts occupancy: with this new automated Availability Yielding feature, Beyond has expanded ways to capture more bookings increasing by 2% RevPAN. In one month alone, more than 76,000 days were booked with Availability Yielding incorporated.
A real result from one of our users: A listing in the Georgia Mountains got a June booking on their 3-bedroom rental. Since they are using Search Powered Pricing, their booking came in at a 23% higher rate than it would have without search data. This is 10% higher than they got last year in the same month.
Other global customers using Beyond and sharing their positive experiences: