Vacation Rental Host Raises Revenue by 84% with Beyond
Shafiq has owned a multi-family building in Washington, D.C. since 2007, and a few years later he started renting one unit as a short-term rental on Airbnb. Things were going well, but in 2022 he realized he needed to start automating parts of the business to keep up with demand.
"Beyond does a phenomonenal job of setting rates and getting the right price for my rental, and I‘ve let the tool take over."
Shafiq had worked in the hotel industry so he knew most of the ins and outs of working in hospitality, including how to set up an effective revenue management strategy. However, he was surprised to learn that there were some significant differences to pricing short-term rentals compared to hotel rooms. So, on the advice of a friend, Shafiq started with Beyond in August 2022. He was unsure about the platform at first, but that quickly changed when he started to see significant revenue growth.
"Beyond has proven itself and more."
Shafiq now relies on Beyond to automate his pricing, fully trusting the Beyond algorithm to set the right price for his rental on any given day. “Beyond does a phenomenal job of setting rates and getting the right price for my rental, and I’ve let the tool take over. I was reluctant to do that initially, thinking that maybe the price was too high. However, when I went to check on it the night was already reserved at that price,” said Shafiq. “That proves to me that Beyond works and the algorithms are working. So, I don’t need to interject.”
In his first month using Beyond, Shafiq’s monthly revenue increased to $5200 from his monthly average of $3200 – a 63% increase! The increases didn’t stop after month one: Shaifq’s second month increased by 75% with Beyond, resulting in $5600 in revenue, and his third month was an 84% increase to $5900.
Since then, Shafiq has become a huge proponent of Beyond and has referred several of his peers. “Beyond has proven itself and more,” Shafiq said.
Shafiq likes that platform is easy to work with. He also appreciates that the cost of Beyond is just 1% of his bookings. “I look at the 1% cost of Beyond as a nominal fee. It’s very worth it to me because you can raise my revenue by more than $1000 in just one month – that’s worth the 1%,”