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How Beyond can boost your STR revenue by 40%



Gone are the days when professional vacation rental hosts manually set seasonal rates according to the weather, school holidays, and local events.


Today, there is a proliferation of dynamic pricing tools in the short-term rental industry – and one of the leading options is Beyond, which was established in the US in 2013.


During the latest episode of the #HCHPodcast, Beyond CEO Julie Brinkman explained how a dynamic pricing tool can supercharge your STR business by boosting revenue by up to 40%. Below are some key takeaways from the interview. Click here to listen to the episode on our website.


What difference can Beyond make?

I’m in the lucky position to be an executive at a company that helps to drive revenue. When we look at folks who implement Beyond after manually setting prices, we see improvements up to 40%. So if I was earning $100,000, I’m now earning $140,000. This kind of leapfrog in revenue can help to unlock an incredible opportunity within your business to improve the guest experience, add properties, or add furniture. We’re super proud to be able to say that we help our hosts drive that kind of growth.


How exactly do dynamic pricing tools work?

We consume trillions of data points every single day across Airbnb, Vrbo, and now Booking.com. This helps to understand what's going on in a market level, and a cluster level. For example, the south end might have different dynamics to the east end. London isn’t going to have a certain level of performance as you want to be looking at different neighbourhoods to really understand the differences.


Now, because we own that data pipeline, we’re able to constantly assess these clusters. It really starts with the data – and after that we turn to the algorithm. We invest in our data science, our machine learning, and our AI to learn what is actually happening with these prices. Are properties getting booked? What’s the pattern? What’s the seasonality? What’s the pacing? Our data science team is obsessed with using incremental performance in order to achieve those marginal gains.


Our third component is our commitment to excellence, a commitment to service. We have some core values that we hold dear – one of them being our first one: we care. We care about our customers’ performance. We align with their performance. We don’t earn money unless they are earning money – and that really signs us up for a commitment to what’s going on with our customers’ businesses.


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