In the past couple of years, a significant number of apart-hotels, boutique hotels, and guesthouses have turned to Beyond as the go-to solution for their pricing strategies.
As a property manager with multiple units, you understand the unique challenges that come with pricing and managing similar properties within a property type. Unlike a single property, a multi-unit property requires a comprehensive approach that takes into account the similarities between units such as nightly pricing, occupancy rates, and strategies to maximize revenue.
If you are looking to manage pricing for similar room types it's crucial to have a dynamic and efficient pricing strategy in place—leverage Beyond’s advanced analytics, competitive data, and automatic pricing for your multi-unit property to save time and boost revenue.
What is a multi-unit property?
A multi-unit property refers to a collection of multiple identical or similar room types that are grouped together as a single listing across various channels. This concept allows guests to book the parent listing, and then they are allocated to one of the sub-units within that listing.
Let's imagine a hotel scenario. When you book a room at a hotel, you choose a specific room type, like a double room. But in the hotel, there are several double rooms available. Similarly, with multi-unit listings, guests book a main listing, just like reserving a double room, and they are then assigned to one of the available sub-units within the property. It's a way to efficiently manage and allocate resources, providing a seamless experience for guests.
For an efficient approach to managing a multi-unit property, property managers will need to employ a robust property management system such as Guesty, Avantio, or Cloudbeds. These platforms allow property managers to group identical rooms under a parent property, presenting them as a single listing on popular booking channels such as Airbnb, Vrbo, and Booking.com. While this setup effectively handles availability, there remains a crucial aspect to address: pricing.
This is where Beyond's dynamic pricing comes into play, bridging the pricing gaps for your various sub-units. By capitalizing on market analytics, search data, and considering factors like local events, seasonality, day of the week, and more, Beyond's dynamic pricing ensures that your pricing is optimized on a granular level. This comprehensive approach gives your multi-unit property a competitive edge, attracting more bookings and growing revenue.
Leveraging Beyond's Multi-Unit Pricing
It’s hard to keep track of occupancy rates for multiple properties that share the same characteristics, and the real struggle lies in swiftly translating those insights into impactful pricing adjustments.
With Beyond, analyzing the booking pace for multiple units available each night is made simple and property managers can proactively adjust rates for unsold units. These automated pricing updates safeguard nightly prices and guarantee that they are aligned with the speed at which other units are being booked. Let’s take, for example, a surge in bookings for a future set of dates, Beyond’s algorithm will take this into account and auto-apply an increase in rates of the remaining rooms.
At this time, Multi-unit pricing and listing management are available for the Avantio, Cloudbeds, and Guesty integrations. If you have multiple properties on another Property Management System (PMS) and would like to manage pricing on Beyond, feel free to reach out to support@beyondpricing.com and let us know.
Interested in pricing rooms, apartments, or guesthouses using Beyond’s Automated Pricing for multi-units? Getting started is easy and only takes a few steps!
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