Founded in 2020 in Scottsdale, Arizona, Porter Stays has quickly expanded to manage over 250 vacation rentals across Arizona and Texas. Known for its efficient and effective approach and outstanding luxury properties, Porter leverages Beyond’s revenue management technology to streamline operations and optimize pricing strategies. Below, Porter's Revenue Management Team discusses how Beyond has been instrumental in its growth and operational success.
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.
“We definitely knew we wanted to do dynamic pricing. There are certain things Beyond does that we can’t do in-house, like tracking market occupancy rates.”
said Dean.
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:
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.
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.
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.
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.
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.
“We definitely knew we wanted to do dynamic pricing. There are certain things Beyond does that we can’t do in-house, like tracking market occupancy rates,” said Dean. “One of the biggest selling points of the software is how quickly we can adjust rates. If we were working out of our property management system (PMS), we’d have to go week by week or day by day, and that would probably add 30 or 40 hours plus to my week.”
“One of the biggest selling points of the software is how quickly we can adjust rates. If we were working out of our property management system (PMS), we’d have to go week by week or day by day, and that would probably add 30 or 40 hours plus to my week.”
Porter Stays
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Automated price adjustments based on real-time market trends, eliminating the need for manual corrections.
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Data-backed reports that help Arrived communicate with current and potential owners.
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Automated price adjustments based on real-time market trends, eliminating the need for manual corrections.
Dean said
“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”
