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March 19, 2021
Escapia users all over the United States are seeing the value of partnering with Beyond. From Maui to Massachusetts to Miami, property managers are consistently seeing higher returns and profit margins by leveraging the robustness of Escapia with the sophistication and automation of Beyond’s dynamic pricing tool.
While 2020 certainly had its share of challenges, Beyond users in the Florida Panhandle were able to, on average, have 54% higher revenue for the year. This primarily came from picking up additional bookings and nights, something their competitors weren’t able to do.
Lowering our prices during the onset of the global pandemic and towards the end of the year as things slowed down allowed for higher occupancy, while aggressive rates in the Summer and into the Fall helped our customers to come out with a slightly higher ADR.
Pricing lower or higher isn’t hard—it's knowing when to do so that has made Beyond’s clients in the Florida Panhandle so successful.
For most of the traditional East Coast vacation markets, the pandemic destroyed their businesses. What wasn’t expected, however, was how fast they were able to not only rebuild but thrive by the end of 2020. Some property managers even recorded a record year as they were able to quickly capture that rebound in demand and ride it to profitability, even with the lingering effects of the pandemic.
Beyond users did even better. They were able to capture more of the pent-up demand that we saw in May-July, with on average 22% higher revenue from longer lengths of stay and higher ADRs.
Let’s turn now from the sandy beaches to the snowy mountains, where the performance is a bit more mixed regarding high season. Beyond users on Escapia, however, showed again to be more profitable than those with other pricing strategies.
For January - March 2021, our partners in these geographies got on average 2 additional bookings. While they are forfeiting ADRs slightly overall (by picking up weekday and shoulder season bookings), they are still making 19% more money for themselves and their happy owners.
This is because we focus on revenue maximization for each listing by optimizing occupancy and ADRs, which in turn makes for a higher profit return in the long run.
The host of features that Escapia users have at their disposal, combined with Beyond’s dynamic pricing algorithm, is a powerful one-two punch. Minimum stays, gap filling, change over days, and last-minute discounts all but guarantee that you will see additional revenue and time savings.
If you are interested in joining your fellow “Escapians” in making more money wherever your guests find you, come see how our pricing tool can work for you.
Since pioneering dynamic pricing for the short-term rental market in 2013, Beyond has helped thousands of users price millions of listings and generate billions of dollars in revenue. Beyond’s unparalleled access to and analysis of real-time, advanced global short-term rental data powers its ability to unlock, inform, and automate action for every kind of hospitality business.
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