Beyond Users Scored 16% Higher Profits During Super Bowl Weekend

Last weekend's Super Bowl was a big win not just for the Kansas City Chiefs but also for vacation rental hosts in Las Vegas. As football enthusiasts (and Taylor Swift fans) flocked to the city, demand for short-term rentals skyrocketed, setting the stage for an exciting behind-the-scenes story. Savvy hosts using Beyond came out on top, consistently outperforming competitors by securing more bookings and driving higher profits.

‍

So, how did they do it? With Beyond's extensive database of vacation rental market insights, these hosts were empowered to excel during high-demand events like the Super Bowl—and every day in between.

‍

Data is at the core of everything we do at Beyond. With unrivaled access and analysis of real-time global short-term rental data, we enable hosts and property managers to inform and automate actions that grow their businesses.

‍

Let’s dive into the data and trends from Super Bowl 2024 weekend.

‍

Touchdown #1: Beyond Users Scored More Bookings

‍

In the run-up to the big weekend, occupancy was pacing drastically higher than normal, as expected. The overall market saw an impressive 72% occupancy during the Super Bowl weekend, a testament to the popularity of short-term rentals during major events.

‍

However, the real stars of the show were Beyond users whose listings boasted an outstanding 85% occupancy rate, paving the way to greater profits during this demand-heavy weekend.

‍

Touchdown #2: Beyond Users Secured More Profits

‍

Beyond users’ success wasn't just about filling rooms; it was about optimizing revenue.

‍

At Beyond, we use the most accurate measurement to establish profitability for vacation rental hosts and managers: Revenue Per Available Night, or RevPAN. RevPAN is a key metric for hosts, calculated by dividing total revenue by available nights. It offers an accurate picture of revenue performance, excluding nights blocked by things outside of a host's control, like maintenance. In other words, hosts can easily see if they are getting the best rate possible for any available night.

‍

During Super Bowl weekend, Beyond users earned 16% more RevPAN compared to the market average.

‍

Beyond’s Winning Game Day Strategy

‍

Pricing unique events is no simple challenge, and Beyond users’ stellar performance can be attributed to our sophisticated algorithm, which determines when to hold out for a higher nightly rate and when to adjust rates to increase the number of bookings. Our revenue management solution uses the most robust dataset in the industry to match demand to price, meaning that listings are automatically positioned to be booked at the right price at the right time.

‍

Furthermore, we have an entire team of seasoned experts with the knowledge and expertise to price these events accordingly. At a high level, it boils down to a few key areas:

‍

At Beyond, we spend an exorbitant amount of time tracking and monitoring events – meaning our customers could have their calendars open longer which increases the chance to book (years and years).
We were aggressive with prices, but not greedy. We didn’t quote unrealistic rates which would discourage lookers during the peak booking periods, and result in fire sales towards the end to get someone in the door.
We followed how the market was booking up and could pull data from Super Bowls back to 2014 to ensure we were looking both at historical trends as well as real-time consumer demand.
For unique properties, our team of revenue consultants worked with partners on custom data-driven strategies using a wide array of features.

‍

Beyond's Super Bowl weekend triumph serves as a valuable lesson for industry players, emphasizing the importance of understanding market dynamics, optimizing occupancy rates, and navigating pricing strategies with precision. In the competitive landscape of short-term rentals, Beyond has showcased that success is not just about being in the game but about knowing how to play it strategically.

‍