Unveiling the Power of a Predictive Revenue with Machine Learning

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1. Search Powered Pricing

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In 2023, Beyond announced a revolutionary new product - Search Powered Pricing. Powered by direct booking website consumer search data, Search Powered Pricing added a new dynamic pricing factor that automatically increases or decreases pricing based on consumer search volume. This new capability helps avoid underpriced bookings for unexpected high demand dates and allows property managers to optimise their strategy with demand data before any guests actually book. Additionally, bookings influenced by Search Powered Pricing have stays that are 11.6% longer than those not using it – these longer stays combined with optimised rates add up to +3% in revenue.
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NEW FOR 2024 – add Search Powered Pricing to your pricing strategy even if you do not have a direct booking website! Whether you just use different distribution channels like Airbnb and Vrbo or do not have a direct reservation channel, Beyond has engineered a way for you to level-up your pricing strategy with consumer search data in your market. Join other Beyond users who have already seen revenue increases of over 3.3% and increases in stay lengths by 11.6%! Check out the markets where Search Powered Pricing is available here.

2. Market Insights & Comp Sets

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Exploring market trends and data just got easier with new functionality that allows you to export up-to-date market reports as PDFs! Easily share the latest trends in your market with key stakeholders like homeowners. 

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Have you ever wanted to explore other markets than your own? Now, you can! We have added the ability to view Market Insights and even build Custom Comp Sets without a listing connected. 

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3. Revenue Goals

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Stay on track this year with Revenue Goals – a brand new way to gain insight and regularly track how your listings are performing to target. Focus revenue management attention on listings that are ahead or behind expectations to proactively and efficiently manage pricing, distribution, and revenue strategies. 

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Revenue Goals help you stay in control of owner and other stakeholder expectations by reviewing listing-level performance against a specific target, set directly in your Beyond listing. 

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4. Auto Booking Review

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Save time, increase efficiency, and transform decision-making with automated booking recommendations powered by your data insights with the all-new Auto Booking Review from Beyond.

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With real-time analytics and automated Base Price recommendations, you can track your progress, make confident data-driven decisions, and save time that would have been spent on manual revisions. Auto Booking Review combines the power of automation with insights from vacation rental experts—it is a complementary source of information that works alongside your expertise to support your decision-making process.

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5. Algorithm Enhancements

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Over the past 10 years, we have added so many enhancements to Beyond’s industry-leading dynamic pricing tool. We’re excited to share some of the latest updates to our algorithm, all designed to use the best connected and sourced data to accurately price your listings. Most of these updates are constantly working in the background to help you optimise your prices automatically with no additional work needed. 
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Most short term rental listing calendars online make it difficult to discern whether a date is booked by a guest or blocked due to an owner's stay or maintenance block. With our latest algorithm update, we have defined better logic to understand calendar availability as it relates to pricing. Now, we’ll consider blocked dates and booked dates separately as they can have different impacts on our analysis of overall market demand. Expect these changes to reflect on Neighbourhood Occupancy Charts, prices, and health scores.  

We recently highlighted that Not All Data is Created Equal in the short term rental industry on our blog. The differences between data sources can have a big impact on revenue management, including market data views. Recently, Airbnb implemented a change that impacted the ability to scrape nightly price data for individual listings. We’re excited to share that we have found a solution to continue delivering this data to our users across the Beyond platform. Users can now see consistent nightly pricing for scraped Airbnb data using our new quote scraper logic on the listing-level Neighbourhood Pricing page. 

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Act Now Before It’s Too Late

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Search Powered Pricing is the easiest way to elevate your pricing strategy and boost revenue in a volatile market.  Our feature-packed Predictive Revenue Solution now does all the heavy lifting for you so that you can focus on additional revenue-generating activities. 

Ready to future-proof your revenue management strategy? Chat with us now.

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