Savvy business travelers rent out their spaces to visitors on sites like Airbnb while they’re out of town. But calculating a competitive price tag can be difficult.
That’s why some are leaving it up to Beyond Pricing to crunch the numbers for them.
Beyond Pricing, built by former advisers to major airlines and hotels, uses a sophisticated dynamic pricing algorithm to guide people on getting the most bang for the buck with listings on Airbnb. Factors that impact pricing are things like seasonality, day of week, local events and conferences.
Co-founder Ian McHenry said its customers are pocketing as much as 10 to 40% more on their Airbnb listings just by using Beyond Pricing. The service,which takes about 30 seconds to calculate, takes 1% of booking revenue.
We’re democratizing data,” said McHenry.
Beyond Pricing, which operates in 40 cities across the world, has raised $1.5 million in funding since launching in June 2014.