Driving Revenue and Scalability: How Porter Achieved Over +30% Revenue Growth with Beyond

The Challenge

As Porter grew, they faced challenges in managing pricing across a large portfolio. Prior to using Beyond, the team relied on manual pricing processes, which were time-consuming and limited. They needed a dynamic pricing solution that could keep up with market trends, automate processes, and offer actionable insights, especially as they expanded into new markets.

The Solution

Porter turned to Beyond, a complete revenue management system designed to optimize short-term rental revenue. Beyond offers an integrated suite of solutions that work together to improve portfolio performance from top to bottom. Beyond’s advanced solutions build on dynamic pricing to create predictive revenue streams via insights into market and consumer search trends, real-time demand data, high-converting booking engines, as well as cost-efficient and mobile-friendly payment processing.

Beyond provided Porter with a powerful and user-friendly revenue management solution, simplifying several key functions:

1. Pricing: Beyond's sophisticated pricing tools adjust prices in real-time based on demand, seasonality, and local events – meaning that Porter’s rates are always optimized and updated.
2. Automation: Beyond enabled Porter to set customizations, like automated minimum stay rules and time-based pricing markups/markdowns, saving them up to 30–40 hours weekly.
3. Market Insights and Competitor Data: The Revenue Management Team appreciates Beyond's ability to monitor local market occupancy rates and track competitor performance, allowing Porter to make data-driven adjustments in real-time. 
4. Pacing and Rate Optimization: Beyond's insights allow Porter to tailor their pacing strategies. For instance, during slower periods, they can price more aggressively to fill units, while holding out for premium pricing during peak times. “We like to pace ahead during slow times of the year and pace behind during peak times, knowing there’s so much demand that we can afford to do so,” said Dean McElveen, a Revenue Manager at Porter.
5. Owner Reporting: Beyond’s Owner Insights enable Porter to communicate valuable occupancy and revenue insights to property owners, enhancing transparency and trust in their management approach.

Results

Since implementing Beyond, Porter has seen tangible improvements, including a more than 30% increase in revenue!

• Reduced Time and Increased Efficiency: By moving away from manual pricing, Porter saves significant hours each week, allowing the team to focus on strategic tasks.
• Faster Onboarding of New Properties: Beyond’s tools make it easier to quickly price and onboard new units.
• Maximizing Profitability and Expansion: Porter has completed two acquisitions of portfolios that used static pricing. Following these acquisitions and transitioning to Beyond, they observed over 30% growth in revenue for these portfolios!

The team at Porter was even able to score a huge win during Super Bowl 2023. They leveraged Beyond’s data-driven insights to secure bookings and revenue, while many competitors missed out by clinging to inflexible pricing strategies. Using Beyond’s real-time market data, Porter was able to adjust rates dynamically, capturing demand even as others struggled with low occupancy. This adaptive approach helped Porter turn a major event into a profitable opportunity, demonstrating the power of smart, responsive pricing.

“With Beyond Insights, we closely monitored Super Bowl 2023 bookings. Half the town ended up sitting empty because rates were held so high that it likely stifled demand. Beyond gave us the flexibility to adjust our prices quickly and stay responsive to the market,” said Dean

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Porter’s success showcases how Beyond’s advanced pricing and insights can transform vacation rental businesses. Ready to streamline your revenue management? Book a demo with Beyond today!