Dinbnb Achieves 7% Year-Over-Year RevPAN growth with Beyond
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Dinbnb is Norway's leading short-term rental management company, providing property owners with hassle-free solutions to maximize rental income. Operating primarily in Oslo and Bergen, they deliver end-to-end management services, including professional property listing, dynamic pricing strategies, guest communication, and maintenance. With a strong focus on customer experience and innovative practices, Dinbnb has positioned itself as a trusted partner for property owners and a reliable host for travelers. Leveraging advanced tools and local expertise, the company continues to shape the future of short-term rentals in Norway's growing tourism market.
In November 2023, Dinbnb partnered with Beyond to optimize its revenue management strategy and take its business to new levels.
“Beyond isn’t just a tool—it’s a partner invested in our success, helping us adapt and strategize for market changes.” Emil Thowsen, Co-founder
Overcoming Obstacles
As Dinbnb expanded, they encountered several challenges:
- Complex Revenue Management: Managing dynamic pricing with Pricelabs was time-consuming and required extensive internal effort to optimize occupancy and daily rates.
- Seasonal Fluctuations: Operating in cities like Oslo and Bergen, DinBNB needed to adjust pricing for peak tourist seasons, such as summer, and balance business traveler demand during off-peak times.
- Limited Revenue Expertise: While the team had grown they lacked access to specialized revenue management expertise.
Dinbnb transitioned from PriceLabs to Beyond, and the results were transformative. Beyond's platform provided not only robust dynamic pricing tools but also a dedicated revenue manager who offered personalized support.
“We have access to specialized expertise that we wouldn’t find in Norway without having to hire someone internally.” Emil Thowsen, Co-founder
Unlocking new revenue management strategies to scale up processes and increase benefits
In 2023, Dinbnb chose to adopt Beyond as its revenue management system, drawn by its ability to offer a level of data configuration that was specifically tailored to meet their business needs:
- Dynamic Pricing Technology: Beyond's algorithm effectively responded to market demands, ensuring optimal pricing for both large-scale events, like Bruce Springsteen’s concert in Bergen, and smaller market shifts.
- Expert Support: With bi-weekly meetings consultations, Dinbnb could fine-tune strategies, address underperforming properties, and implement quick fixes to maximize revenue.
- Comprehensive Reporting: Detailed market insights and performance tracking allowed the team to demonstrate their success to property owners and strengthen client relationships.
“The key is understanding how dynamic pricing works and seeing the value of having someone specialized in revenue management to save time and improve performance.” Emil Thowsen, Co-founder
Real Results with Beyond
With Beyond, Dinbnb has been able to take a much more proactive approach to pricing, improving occupancy forecasts, and making rates more flexible, all while achieving a significantly higher revenue per available night.
By integrating advanced revenue management tools, the company has achieved remarkable outcomes that not only optimize financial performance but also strengthen client relationships and operational efficiency. Here’s how Beyond has transformed Dinbnb’s operations:
- Improved Revenue Performance: The combination of Beyond’s software and human touch enabled Dinbnb to outperform the Norwegian market in key metrics like RevPAN (Revenue Per Available Night) and average daily rates.
- Enhanced Owner Relationships: Transparent reporting and measurable results helped Dinbnb secure and retain property owners, showcasing their ability to deliver superior returns.
- Freed Internal Resources: By outsourcing revenue management expertise to Beyond, Dinbnb could focus on scaling operations and improving guest experiences without overburdening their internal team.
The performances show a +7% increase in RevPAN year over year. Not to mention the scalability achieved thanks to using Beyond—Dinbnb’s portfolio has grown substantially, with an impressive addition of +66 listings in less than a year.
A Fun Milestone
One highlight of the partnership was the high revenue spike during a Bruce Springsteen concert in Bergen. Dinbnb’s listings saw prices triple, thanks to Beyond’s ability to identify and capitalize on demand surges well in advance.
“Beyond’s tools help us outperform the Norwegian market in terms of revenue per available night and daily rates.”Emil Thowsen, Co-founder
Looking Ahead to 2025
As Dinbnb continues to scale, its priorities remain centred on strategic growth and excellence in service delivery. The company aims to expand into new markets, such as Tromsø, capitalising on the unique appeal of Northern Lights tourism to attract a diverse range of travellers.
At the same time, Dinbnb is committed to enhancing property quality and guest experiences, setting new industry standards for exceptional stays. A key focus will be on collaborating with more apartment hotels, broadening its offerings to meet the evolving needs of its guests.
By leveraging Beyond’s expertise, Dinbnb plans to further refine its revenue management strategies, optimising income from commercial short-term rental properties. This approach will enable sustained growth and solidify its position as Norway's leading short-term rental management company.
Advice for New Beyond Users
“Invest in understanding dynamic pricing and the value of specialized expertise. Beyond provides not just the tools but also the human touch that allows you to scale effectively while maintaining high-quality revenue management.” Emil Thowsen, Co-founder
With Beyond’s support, Dinbnb has not only optimized its pricing strategies but also positioned itself as a leader in Norway’s emerging short-term rental market. This partnership exemplifies how leveraging the right technology and expertise can transform a business and set it up for sustainable success. Ready to elevate your short-term rental business? Join companies like Dinbnb in revolutionizing revenue management with Beyond.
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