Airbnb hosts in Portland now have access to a new tool that can help maximize their profits.
Beyond Pricing today launched in the Rose City, offering Airbnb hosts a dynamic pricing model to calculate the optimal nightly rental rate for their available rooms.
Beyond Pricing’s pricing algorithm is a three-step process. The company first calculates how your listing has historically performed; then, it evaluates similar listings; finally, it looks at hotel prices, flight data, nearby events, and conferences to determine local demand for each night.
Beyond Pricing co-founder Ian McHenry said that his company’s tool helps Airbnb owners increase revenue by 27 percent on average, “but often well over 40 percent.” The startup is now live in nine cities, including Seattle — it launched there in August.
“It’s also interesting because home-sharing seems to really fit the ethos of the town and there are unique patterns there that we haven’t seen elsewhere,” McHenry explained. “For instance, during Christmas, most hotels in Portland are mostly empty but there is actually incredibly strong demand for Airbnbs, suggesting that it is the preferred accommodation option for families around the holidays. Usually, hotel and Airbnb prices track fairly closely, especially in downtown areas, but Portland, true to form, is contrarian.”