Crested Butte Lodging & Property Management Triples Direct Booking Revenue with Signal by Beyond
For your vacation specialist in Crested Butte, CO, look no further than Crested Butte Lodging. With 50+ vacation rentals, market knowledge, and expertise, they are uniquely positioned to provide superior property management for their owners. Kate Schmidt, Director of Sales & Marketing at Crested Butte Lodging, talked with us about how partnering with Beyond has helped to increase revenue and led to a flexible, modern revenue management strategy. “We’ve seen our numbers growing this past year. Having a dynamic tool to really take advantage of these times in the market and to be flexible has increased our revenue,” said Kate.
"Our customers like the new website from Beyond, and it has even attracted new owner contracts."
Modernizing their Approach to Pricing
The team at Crested Butte Lodging found that using Beyond expands their ability to be flexible and customize their rates. With 15 years’ worth of experience and knowledge in the market, Kate knows what rates should be like in her area. By combining her expertise with Beyond’s dynamic pricing tool, she can ensure she is maximizing revenue. “Using Beyond is really a shift in how you think about rate strategies. The old way is to demand the highest average daily rate (ADR) and think, ‘don’t worry it will book,’” said Kate. “However, we’ve found that being more occupancy driven and having more flexibility with the rate translates into higher revenue generated for our homeowners.”
“Our website at the time was outdated and breaking constantly. I wasn’t happy with our direct booking site until I signed on with Beyond,” Kate said. “Our customers like the new website from Beyond, and it has even attracted new owner contracts.
Increasing Brand Power
Before using Signal, Beyond’s website and direct booking engine, to build their custom booking site, Crested Butte Lodging was struggling with their previous website. “Our website at the time was outdated and breaking constantly. I wasn’t happy with our direct booking site until I signed on with Beyond,” Kate said. “Our customers like the new website from Beyond, and it has even attracted new owner contracts.” Since launching their new Signal website from Beyond, Crested Butte Lodging saw a 3x increase in revenue from direct bookings and more than doubled their conversion rates and the number of transactions.
More Control Across Multiple Channels
The Crested Butte Lodging team also takes advantage of Beyond’s channel and distribution manager, Relay, to manage their listings on Airbnb. Relay automatically syncs prices, customizations, and reservations across Escapia and Airbnb for the Crested Butte team. Crested Butte also uses Relay’s dynamic channel markups in order to capitalize on differing demand and costs across OTAs and direct booking sites. “It’s the connectivity you guys have. After you do the initial content builds, the rates and availability all transfer over. It just makes it a lot easier knowing that I’m in control,” said Kate.
Actionable Business Insights
As for knowing how their business is doing at any point in time, the team takes advantage of Insights from Beyond. Free to all property managers & owners, Insights provides actionable data about your business, market, and listings to help you stay ahead of growing demand and competition. Kate and her team jump into Insights often to check revenue on a month-to-month basis. “Insights is really good to drill down into how individual lots are performing year over year. I can see revenue per available night (RevPAN), occupancy rates, etc.,” Kate said.
Beyond’s partnership with Crested Butte Lodging is all about building in more flexibility, control, and brand power. With how much the market changes on a seasonal and even daily basis, the team at Crested Butte Lodging enjoy having a revenue management partner that can keep up.