Minimum Price: This is the lowest price that you’d accept per night. *Read this article if you want more information on setting your base price correctly. Take that Base Price and use it as your starting average nightly rate. You can do this by making sure the Airbnb listing you are looking at has a few positive reviews and has a few booked days in the upcoming months. Find a listing on Airbnb of similar size (bedroom and bathroom) and quality, and ensure that listing has a few confirmed reservations in the next couple of months. And these are the only two things that you have to set and everything else will be taken care of behind the scenes.īase Price: this should be roughly your average nightly rate for your Airbnb, and if you do not have historical data for your listing, you can start by searching your local competition on Airbnb. Review PricesĪ couple of things that I want to point out. I will also talk more about this a little bit later. Market Data: this is where BP gathers a ton of data about your competitors, the number of bookings, and hotels nearby. Review Prices: I will talk more about this later, but it allows you to set your base rate and minimum rate. Sync Prices: it allows you to easily auto-sync BP’s pricing into your Airbnb listing(s). I will start to worry if it slips into the 60s. My health scores are usually between 75 and 90. **As you can see, my listings are doing well. Health Score: how well your listing is doing based on their algorithm ( out of 100 points).īooking % for the next 30 days: 50% is perfect, so it’s important not to get underbooked or overbooked.īooking % for the next 90 days: 32% is perfect, and the key is to maintain a “healthy” amount of reservations for future dates to maximize the amount of money per listing. This is what the dashboard looks like for me and you can also see my listings.

Now, let’s go take a look at the product. The pricing is based on demand, seasonality, and other factors.īeyond Pricing takes in those factors such as demand, the day of the week, and seasonality into their algorithm to dynamically price your listing to achieve the maximum amount of money per night for your listing. You could pay 100 dollars or 500 dollars for the exact same room. Back it up a little bit. Let me explain what dynamic pricing means.Ī real-world example would be when you try to book a hotel room. Total fees = 4% (3%Airbnb host fee + 1% BP Fee). Beyond Pricing takes 1% of that 291 = 2.91.Airbnb takes 3% host fee: 300 – 9 = 291 dollars.So here’s a real example of how much BP charges.

*BP claims that some users can make up to 40% more, but I tracked my earings and saw a 33% increase. 1) I saved some time from my weekly research. In summary, I went with Beyond Pricing and here is why.

To save you some hassle, here are my research findings. I found two real contenders: Beyond Pricing and Wheelhouse. In my evaluation, I solicited responses from other seasoned Airbnb hosts as well as my own research on the internet. Essentially, I would research my competitors, how much hotels were charging, and if there were any major events/conferences/concerts near my listings. I grew frustrated and decided to outsource this specific part of my operation. That was fine for my first listing but quickly became a time-suck as I got more units. It took me a while to research all of the available solutions out there.įor a while, I was adjusting my pricing manually. I was using Everbooked before, but they decided to discontinue their dynamic pricing after the acquisition( you can read about it on everbooked). I have been using BP for almost a year now. How I Increased My Revenue by 33% Using Beyond Pricing (BP) I can set my minimum price to 500 dollars, but obviously, that is not going to get me booked because my competitors are charging less and my place is not nice enough where I can justify charging 500 dollars per night. Two how do you know your “high minimum price” is low enough where you are still getting bookings? One there’s a maximum ceiling that I’ve talked about in my response to her. She thinks that by setting her minimum price really high, she’s able to avoid her listing being underpriced by Smart Pricing. (psst, in case you missed my last two posts, here are the links: part one and part two). Here’s a screenshot that shows a real example of an Airbnb Host that is currently using Smart Pricing. What’s up, everyone! In my last posts, I’ve talked about why you should never use Airbnb’s smart pricing.

Beyond pricing