Don Martin of Cayman Vacation faced two common challenges: How to differentiate themselves in their competitive short-term rental market and how to improve relationships with owners. Luckily, Don connected with Beyond and the rest was history.
Below, Don Martin, CEO of Cayman Vacation, shares his experience how transforming his pricing strategy with Beyond enhanced relationships with property owners and set them apart in the competitive Cayman market.
Cayman Vacation is a trusted partner and expert for those looking to craft memorable Grand Cayman Island luxury vacations. With over three decades of expertise and a commitment to serving over 100,000 delighted vacation rental clients, they pride themselves on providing warm, professional, and personalized boutique service.
Previously adhering to fixed seasonal rates, Don was looking for a way to set prices based on the local market, eliminating any guesswork associated with fixed rates. From the beginning of his partnership with Beyond, Don found just that.
“We have been pleased with Beyond from our initial contact through the 4-week test trial we conducted, and then on with successfully moving 90% of our inventory to dynamic pricing.”
Don Martin, CEO of Cayman Vacation
The Solution
They began their journey with Beyond with a trial with 20 properties. The amazing results achieved during this trial solidified their decision to opt for Beyond.
“Beyond’s ability to accurately set pricing based on the local market takes away the guessing of hitting fixed seasonal rates," said Don. “We appreciate the data analytics and recommended pricing for our specific market and individual units. The 4-week test trial with 20 properties really helped us test the system and prove the results we anticipated.”
Another perk of Beyond was the easy integration with their Property Management System (PMS). It was seamless, enabling quick implementation of dynamic pricing across multiple online travel agency (OTA) channels.
The team at Cayman Vacations is thrilled with the results so far. In December of 2023, they increased their revenue per available night (RevPAN) by 9% year-over-year, and their RevPAN for January 2024 was pacing 15% ahead year-over-year!
Cayman Vacation
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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.
Don Martin, CEO of Cayman Vacation
“Beyond gives us a competitive advantage in the Cayman market, and differentiates us by bringing additional value to our owners.”
