Vacation Rental Pricing Optimization with Beyond Pricing

Beyond Pricing helps property owners optimize their yields for short term rentals.  That sounds like a mouthful, but what does it really mean?

From my own experience, I leveraged Beyond Pricing when I was living in San Francisco.  My family chose to spend summers in San Diego, given the vastly different weather during the summer months in those two locales.  As we were largely out of the house for two months at a time, I listed my house on AirBnb and quickly linked up Beyond Pricing.  I found that Beyond Pricing allowed me to set and update daily pricing for my listing many months in advance, taking into account supply and demand for hotels and short term property rental sites coupled with knowledge about local weather, events and many other factors.  These updated prices were often times much higher than I would have set for myself - and I was successfully booking out at a <70% level.  At the same time, I had set a threshold level on the lower end that I wasn't willing to pass - sometimes it's just not worth having people in your home even if that would allow you to achieve closer to 100% occupancy.  Beyond Pricing allowed me to have less renters in my property while actually making more money - that's what they do - and they do it automatically without any user intervention needed after the initial quick and painless setup.

The hotel industry has had this capability for decades.  If you've ever tried to book a hotel for various dates, you'll see daily fluctuations not just based on seasonality, but on day of week, events, weather, distance to booking time, perceived supply and demand ratios and more.  Beyond Pricing brings all of that sophistication down to the individual, allowing any person with a single room or a single property to do better with that listing. Somewhat surprisingly, the largest users of platforms like AirBnb, VRBO, Homeaway, etc. are not individuals but rather large scale property managers (the medium sized ones would have a minimum of a 100 listings).  Even more surprising, these property managers utilize property management systems (PMS) which also did not have the ability to price their listings in an intelligent and dynamic fashion, until Beyond Pricing came along.  Now the top property managers in the world are leveraging Beyond Pricing, through its integrations with property management systems like HomeAway Software's V12 and Escapia, Streamline and more.

In July, Beyond Pricing both acquired Smart Host and made their Market Data and Nearby Listings feature freely available, features that every vacation rental owner should use, whether or not they ultimately also leverage Beyond Pricing's automated pricing.  As Ian said in that blog post:

The ability to see comps and gauge their performance relative to neighbors is one of the most common features requested by hosts and managers.

Existing Beyond Pricing users can find the new Nearby Listings tab available immediately for each of their listings on their dashboard

Beyond Pricing now has a user base of over 120,000 listings in over 1,000 markets around the world and are continuing to innovate both on the product and the business model.  I'm excited to see what's still in store for this excellent team.

For those of you that have gotten this far and want to join the company for a front row seat, Beyond Pricing is hiring for a senior full stack engineer, a sales development rep (SDR) and a revenue manager - please apply and spread the word!