SlideShare a Scribd company logo
in LONDON
About Us
• The first and largest dynamic pricing software provider for Airbnbs
and vacation rentals
• $1.5M in bookings priced per week
• Powering pricing for 95% of “next-generation” property
managers and hospitality brands like Airsorted, Onefinestay,
MyVRHost, Guesthop, Flatbook, and dozens of others
• 10 years experience helping the world’s largest airlines and hotels
with dynamic pricing
• Previously managed 25 vacation rentals in San Francisco as Beyond
Stays
@beyondpricing
beyondpricing.com
Beyond Pricing
What is Dynamic Pricing?
Changing your price based
on supply and demand
@beyondpricing
beyondpricing.com
Why is this important?
@beyondpricing
beyondpricing.com
Because Demand Changes. A Lot.
https://plot.ly/~beyondpricing/578/london-­‐airbnb-­‐occupancy/
As Demand Changes, So Do Prices
Price
Rooms Booked
High Season

Low Season
$200
$150
@beyondpricing
beyondpricing.com
Beyond Pricing
What Happens When You Don’t Vary
Your Prices
Host #3
Host #2
Host #1
@beyondpricing
beyondpricing.com
Beyond Pricing
!$100!!
!$120!!
!$140!!
!$160!!
!$180!!
!$200!!
!$220!!
!$240!!
Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15
What Happens When You Don’t Vary
Your Prices
• Host #1 - $140/night – Chronic Under Pricer
• She will be filled 95% of the time and excited about her high
occupancy
• Host #2 - $180/night – Average Jane
• She is excited because she is filled from March-October and
thinks winters are just “slow”
• Host #3 - $220/night – Occasional Olivia
• Her calendar is usually open, except for big events which are
booked months in advance
@beyondpricing
beyondpricing.com
Beyond Pricing
Hosts Are Losing Millions of Dollars by
Using Flat-Pricing
	
  
$200
$100
$300
$400
Date
Single Nightly Rate
Optimized Rate
Lost revenue
Lost bookings
• Money left on the table
during periods of high
demand
• Units sitting empty during
periods of low demand
@beyondpricing
beyondpricing.com
Beyond Pricing
Dynamic Pricing Helps in 2 Ways
1. By lowering your price when
demand is low, you can
increase your occupancy
2. By increasing your price when
demand is high, you can
increase your average nightly
rate
$200
$100
$300
$400
Date
Additional
	
  
$200
$100
$300
$400
Date
Higher
Nightly
@beyondpricing
beyondpricing.com
Beyond Pricing
1. Seasonality
2. Day of Week
3. Events
3 Biggest Factors Driving Demand
@beyondpricing
beyondpricing.com
Beyond Pricing
Seasonality is Different in Every City
ChangeinDemand
@beyondpricing
beyondpricing.com
Beyond Pricing
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
Jan$15' Feb$15' Mar$15' Apr$15' May$15' Jun$15' Jul$15' Aug$15' Sep$15' Oct$15' Nov$15' Dec$15' Jan$16'
Miami' SF'
San'Diego' NYC'
Seasonality Also Differs in Neighborhoods
of the Same City
ChangeinDemand
@beyondpricing
beyondpricing.com
Beyond Pricing
!20%%
!15%%
!10%%
!5%%
0%%
5%%
10%%
15%%
20%%
25%%
30%%
Jan!15% Feb!15% Mar!15% Apr!15% May!15% Jun!15% Jul!15% Aug!15% Sep!15% Oct!15% Nov!15% Dec!15% Jan!16%
Lake%Tahoe:%King's%Beach%
Lake%Tahoe:%%Kirkwood%/%Sierra!at!Tahoe%
Seasonality Also Differs in Neighborhoods
of the Same City
ChangeinDemand
@beyondpricing
beyondpricing.com
Beyond Pricing
!10%%
!5%%
0%%
5%%
10%%
15%%
20%%
25%%
30%%
Jan!15% Feb!15%Mar!15% Apr!15% May!15% Jun!15% Jul!15% Aug!15% Sep!15% Oct!15% Nov!15% Dec!15% Jan!16%
San%Diego:%%Gaslamp%
San%Diego:%%Mission%Beach%
ChangeinDemand
Day of Week Variations Are Different in
Every City
@beyondpricing
beyondpricing.com
Beyond Pricing
!20%%
!15%%
!10%%
!5%%
0%%
5%%
10%%
15%%
20%%
25%%
Sun% Mon% Tue% Wed% Thu% Fri% Sat%
Madrid%
SF%
Mountain%View%
ChangeinDemand
Toronto Day of Week Changes
@beyondpricing
beyondpricing.com
Beyond Pricing
Events Can Have Big Impacts on Demand
@beyondpricing
beyondpricing.com
Beyond Pricing
40%$
50%$
60%$
70%$
80%$
90%$
100%$
1/1/14$ 2/1/14$3/1/14$ 4/1/14$ 5/1/14$ 6/1/14$ 7/1/14$ 8/1/14$ 9/1/14$10/1/14$11/1/14$12/1/14$
JP
M
organ
H
ealthcare
G
D
C
C
isco
LIVE
G
oogle
I/O
O
utsidelands
D
ream
force
O
racle
O
penw
orld
AmericanSociety
ofHematology
Occupancy
Event Impact is Highly Local
VS
Event Location X
Hotel CenterX
@beyondpricing
beyondpricing.com
Beyond Pricing
So What Happened with Pan Am
Games?
@beyondpricing
beyondpricing.com
Beyond Pricing
So What Happened with Pan Am
Games?
@beyondpricing
beyondpricing.com
Beyond Pricing
A: Too much extra supply, too little demand = low prices
Occupancy
Caribana
Pan	
  Am	
  Games
How Beyond Pricing Works
We find the right average price for your place.
Then, we change that price based on
supply and demand.
@beyondpricing
beyondpricing.com
Beyond Pricing
Are You a Motel 6 or a Marriott?
VS
VS
@beyondpricing
beyondpricing.com
Beyond Pricing
Finding the Right Average Price for Your
Place is Tough
Williamsburg Private Bedrooms Prices
NumberofListings
@beyondpricing
beyondpricing.com
Beyond Pricing
0"
10"
20"
30"
40"
50"
60"
70"
<$40"
$40,50"
$50,60"
$60,70"
$70,80"
$80,90"$90,100"$100,110"$110,120"$120,130"$130,140"$140,150"$150,160"$160,170"$170,180"
$180+"
Motel 6 Marriott Ritz?
Many Factors Contribute to How Much
You Can Charge
• Amenities
• Number of Reviews
• Average Star Rating
• Quality of Pictures
• Number of Pictures
• Stainless Steel Appliances
• Location
• Response Time
• Airbnb Search Ranking
• Number of Bedrooms
• Number of Bathrooms
• Number of Beds
• Extra Guest Fee
• Cleaning Fee
• Instant Book
• Listing Title
@beyondpricing
beyondpricing.com
Beyond Pricing
What Matters is How Quickly You Book
Versus the Average
@beyondpricing
beyondpricing.com
Beyond Pricing
We then vary your average nightly rate
based on changes in demand
@beyondpricing
beyondpricing.com
Beyond Pricing
$-
$50
$100
$150
$200
$250
$300
Jan$14' Feb$14' Mar$14' Apr$14' May$14' Jun$14' Jul$14' Aug$14' Sep$14' Oct$14' Nov$14' Dec$14'
Ritz Marriott Motel 6
It’s Important to Know How Far in
Advance People BookPercentofBookings
Days Out @beyondpricing
beyondpricing.com
Beyond Pricing
0%#
10%#
20%#
30%#
40%#
50%#
60%#
70%#
80%#
90%#
100%#
1# 31# 61# 91# 121# 151# 181# 211# 241# 271# 301# 331#
Two Implications of the Booking Curve
1. Tells You What Percent of Demand is Still Left
Allows you to know whether and when to discount
2. Tells You Whether You’re Booking Up Too Quickly
If you are, chances are you can increase your average
nightly rate, or “Base Price”
@beyondpricing
beyondpricing.com
Beyond Pricing
Get Started with Beyond Pricing
1. Sign-up and link your Airbnb account (use code
LONDONMEETUP for 1 FREE month + $30 credit)
2. Review your prices and adjust your base price
3. Turn syncing on to automatically sync prices every night at
midnight
Beyond Pricing
https://beyondpricing.com/

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How To Price Your Airbnb in London

  • 2. About Us • The first and largest dynamic pricing software provider for Airbnbs and vacation rentals • $1.5M in bookings priced per week • Powering pricing for 95% of “next-generation” property managers and hospitality brands like Airsorted, Onefinestay, MyVRHost, Guesthop, Flatbook, and dozens of others • 10 years experience helping the world’s largest airlines and hotels with dynamic pricing • Previously managed 25 vacation rentals in San Francisco as Beyond Stays @beyondpricing beyondpricing.com Beyond Pricing
  • 3. What is Dynamic Pricing? Changing your price based on supply and demand @beyondpricing beyondpricing.com
  • 4. Why is this important? @beyondpricing beyondpricing.com Because Demand Changes. A Lot.
  • 6. As Demand Changes, So Do Prices Price Rooms Booked High Season
 Low Season $200 $150 @beyondpricing beyondpricing.com Beyond Pricing
  • 7. What Happens When You Don’t Vary Your Prices Host #3 Host #2 Host #1 @beyondpricing beyondpricing.com Beyond Pricing !$100!! !$120!! !$140!! !$160!! !$180!! !$200!! !$220!! !$240!! Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15
  • 8. What Happens When You Don’t Vary Your Prices • Host #1 - $140/night – Chronic Under Pricer • She will be filled 95% of the time and excited about her high occupancy • Host #2 - $180/night – Average Jane • She is excited because she is filled from March-October and thinks winters are just “slow” • Host #3 - $220/night – Occasional Olivia • Her calendar is usually open, except for big events which are booked months in advance @beyondpricing beyondpricing.com Beyond Pricing
  • 9. Hosts Are Losing Millions of Dollars by Using Flat-Pricing   $200 $100 $300 $400 Date Single Nightly Rate Optimized Rate Lost revenue Lost bookings • Money left on the table during periods of high demand • Units sitting empty during periods of low demand @beyondpricing beyondpricing.com Beyond Pricing
  • 10. Dynamic Pricing Helps in 2 Ways 1. By lowering your price when demand is low, you can increase your occupancy 2. By increasing your price when demand is high, you can increase your average nightly rate $200 $100 $300 $400 Date Additional   $200 $100 $300 $400 Date Higher Nightly @beyondpricing beyondpricing.com Beyond Pricing
  • 11. 1. Seasonality 2. Day of Week 3. Events 3 Biggest Factors Driving Demand @beyondpricing beyondpricing.com Beyond Pricing
  • 12. Seasonality is Different in Every City ChangeinDemand @beyondpricing beyondpricing.com Beyond Pricing -20% -15% -10% -5% 0% 5% 10% 15% 20% 25% Jan$15' Feb$15' Mar$15' Apr$15' May$15' Jun$15' Jul$15' Aug$15' Sep$15' Oct$15' Nov$15' Dec$15' Jan$16' Miami' SF' San'Diego' NYC'
  • 13. Seasonality Also Differs in Neighborhoods of the Same City ChangeinDemand @beyondpricing beyondpricing.com Beyond Pricing !20%% !15%% !10%% !5%% 0%% 5%% 10%% 15%% 20%% 25%% 30%% Jan!15% Feb!15% Mar!15% Apr!15% May!15% Jun!15% Jul!15% Aug!15% Sep!15% Oct!15% Nov!15% Dec!15% Jan!16% Lake%Tahoe:%King's%Beach% Lake%Tahoe:%%Kirkwood%/%Sierra!at!Tahoe%
  • 14. Seasonality Also Differs in Neighborhoods of the Same City ChangeinDemand @beyondpricing beyondpricing.com Beyond Pricing !10%% !5%% 0%% 5%% 10%% 15%% 20%% 25%% 30%% Jan!15% Feb!15%Mar!15% Apr!15% May!15% Jun!15% Jul!15% Aug!15% Sep!15% Oct!15% Nov!15% Dec!15% Jan!16% San%Diego:%%Gaslamp% San%Diego:%%Mission%Beach%
  • 15. ChangeinDemand Day of Week Variations Are Different in Every City @beyondpricing beyondpricing.com Beyond Pricing !20%% !15%% !10%% !5%% 0%% 5%% 10%% 15%% 20%% 25%% Sun% Mon% Tue% Wed% Thu% Fri% Sat% Madrid% SF% Mountain%View%
  • 16. ChangeinDemand Toronto Day of Week Changes @beyondpricing beyondpricing.com Beyond Pricing
  • 17. Events Can Have Big Impacts on Demand @beyondpricing beyondpricing.com Beyond Pricing 40%$ 50%$ 60%$ 70%$ 80%$ 90%$ 100%$ 1/1/14$ 2/1/14$3/1/14$ 4/1/14$ 5/1/14$ 6/1/14$ 7/1/14$ 8/1/14$ 9/1/14$10/1/14$11/1/14$12/1/14$ JP M organ H ealthcare G D C C isco LIVE G oogle I/O O utsidelands D ream force O racle O penw orld AmericanSociety ofHematology Occupancy
  • 18. Event Impact is Highly Local VS Event Location X Hotel CenterX @beyondpricing beyondpricing.com Beyond Pricing
  • 19. So What Happened with Pan Am Games? @beyondpricing beyondpricing.com Beyond Pricing
  • 20. So What Happened with Pan Am Games? @beyondpricing beyondpricing.com Beyond Pricing A: Too much extra supply, too little demand = low prices Occupancy Caribana Pan  Am  Games
  • 21. How Beyond Pricing Works We find the right average price for your place. Then, we change that price based on supply and demand. @beyondpricing beyondpricing.com Beyond Pricing
  • 22. Are You a Motel 6 or a Marriott? VS VS @beyondpricing beyondpricing.com Beyond Pricing
  • 23. Finding the Right Average Price for Your Place is Tough Williamsburg Private Bedrooms Prices NumberofListings @beyondpricing beyondpricing.com Beyond Pricing 0" 10" 20" 30" 40" 50" 60" 70" <$40" $40,50" $50,60" $60,70" $70,80" $80,90"$90,100"$100,110"$110,120"$120,130"$130,140"$140,150"$150,160"$160,170"$170,180" $180+" Motel 6 Marriott Ritz?
  • 24. Many Factors Contribute to How Much You Can Charge • Amenities • Number of Reviews • Average Star Rating • Quality of Pictures • Number of Pictures • Stainless Steel Appliances • Location • Response Time • Airbnb Search Ranking • Number of Bedrooms • Number of Bathrooms • Number of Beds • Extra Guest Fee • Cleaning Fee • Instant Book • Listing Title @beyondpricing beyondpricing.com Beyond Pricing
  • 25. What Matters is How Quickly You Book Versus the Average @beyondpricing beyondpricing.com Beyond Pricing
  • 26. We then vary your average nightly rate based on changes in demand @beyondpricing beyondpricing.com Beyond Pricing $- $50 $100 $150 $200 $250 $300 Jan$14' Feb$14' Mar$14' Apr$14' May$14' Jun$14' Jul$14' Aug$14' Sep$14' Oct$14' Nov$14' Dec$14' Ritz Marriott Motel 6
  • 27. It’s Important to Know How Far in Advance People BookPercentofBookings Days Out @beyondpricing beyondpricing.com Beyond Pricing 0%# 10%# 20%# 30%# 40%# 50%# 60%# 70%# 80%# 90%# 100%# 1# 31# 61# 91# 121# 151# 181# 211# 241# 271# 301# 331#
  • 28. Two Implications of the Booking Curve 1. Tells You What Percent of Demand is Still Left Allows you to know whether and when to discount 2. Tells You Whether You’re Booking Up Too Quickly If you are, chances are you can increase your average nightly rate, or “Base Price” @beyondpricing beyondpricing.com Beyond Pricing
  • 29. Get Started with Beyond Pricing 1. Sign-up and link your Airbnb account (use code LONDONMEETUP for 1 FREE month + $30 credit) 2. Review your prices and adjust your base price 3. Turn syncing on to automatically sync prices every night at midnight Beyond Pricing https://beyondpricing.com/