Blog about STR and Revenue Management

What we offer

Written by Sophie | Aug 29, 2024 6:48:09 PM

At ListingOK, we are people serving people. When you work with us, you're not just getting software; you're gaining a dedicated team committed to providing you with the best Premium Revenue Management service.

We have our own Revenue Management System specifically designed to meet the needs of our clients.

You could be one of our clients!

Our clients are Property Owners and Property Managers who benefit from ListingOK's experience and strategies to manage the availability and pricing of their accommodations and thus achieve the best possible returns.

With our own Revenue Management System, we help Property Owners and Property Managers rent the correct property, to the correct client, at the correct time, through the correct channel, for the optimal price.

To achieve this goal, we monitor in real-time the different variables that influence the optimal construction of pricing and availability. We analyze data and apply Machine Learning tools to dynamically adjust prices (Dynamic Pricing) and predict occupancy (Occupancy Forecast). For each of our clients, we make projections, build models, track statistics, create reports, and define the best strategy for their accommodations.

But we don't stop there. In addition to generating the information and delivering it to our clients, we accompany the execution of personalized strategies with the continuous monitoring of property performance carried out by the revenue manager responsible for each account.

Your properties will perform best on all Online Travel Agency platforms

Our software is linked to Online Travel Agencies (OTAs) such as Airbnb, Booking.com, Expedia Group, Despegar, and Trip Group, through Channel Managers allowing for automatic updates of rates, availability, and bookings across multiple agencies at once.

We guarantee the best search position within Airbnb and Booking.com, among other online agencies, so that the listings of each of the accommodations under our management are the most visible and have the highest conversion rates.

The Advantage of Dynamic Pricing

At ListingOK, we offer a professional and personalized service in all areas related to Revenue Management for short-term rental apartments (STRs).

One of these areas is dynamic pricing.

Dynamic pricing is a strategy that adjusts the rental price of an accommodation based on demand and real-time market movements.

We achieve this through Artificial Intelligence driven tools, which allows us to offer our clients a range of benefits in terms of managing the prices of their properties with a forecast range of up to four months.

For each property, we establish predefined pricing strategies to determine custom rates, price limits, booking discounts and promotions, and weekly and seasonal adjustments.

We continuously monitor each variable to manage the performance of each property and reach its optimal point.

The frequency of updates to your property prices is daily (Daily Pricing), including weekend updates.

Growth Performance

At ListingOK, we track the historical performance of each property and set projections and strategies based on the data observed in that particular accommodation and the overall market movements.

We analyze all the variables that influence the rental performance of properties to determine their overall financial health scores and thus know their profitability.

Our team works with our clients to optimize their property listings on online travel agencies (OTAs) such as Booking.com and Airbnb, thereby maximizing the benefit of each platform and achieving the best search position.

All balances obtained from the continuous analysis of performance are periodically delivered to our clients and studied together, which improves their business and promotes informed decision-making.

Market Data and Competitor Analysis

At ListingOK, we have our own Revenue Management Software (RMS) to provide the best service to Property Owners and Property Managers who work with us.

Our RMS is a cloud-based platform that monitors in real-time all the variables that influence the optimal formation of prices and availability of each property.

But our clients receive not only software but also a team of people dedicated to growing their business based on the analysis of concrete data on the market and the competition.

We apply various analytical tools to local neighborhood data where each property is located and conduct market intelligence. We also provide a complete interactive geographic map display with viewing options according to the different parameters required by managers and owners to understand the position of their accommodation relative to others in the same area.

We offer analytic-based reports containing graphics of the Annual Revenue, the Occupancy Rate, and the Average Daily Rate of the zone your properties are located.

Listing Optimization

One of the advantages of working with ListingOK is that our Revenue Management positively impacts OTAs like Airbnb and Booking.com, promoting better performance on these platforms.

We focus on optimizing your listing's position by improving its configuration and applying SEO tools to achieve the best search results within each OTA. This increases your competitiveness and visibility to guests.

In addition to dynamic pricing, we manage your calendar and its variables, such as minimum and maximum stays, for efficient management and to minimize unproductive gaps and single days.

This way, you achieve the highest possible conversion rate for each property.

Personalized and Professional Service

At ListingOK, we provide a dedicated human service tailored to the specific needs of each Property Owner and Property Manager who works with us.

Our team of professionals consists of experts who perform specialized Revenue Management for each account, with a 24/7 communication channel with our clients that provides peace of mind and immediate assistance for any questions.

We produce reports on each STR property that analyze its performance, area, competition, and historical data. 

We also report the potential performance of a new property, both for existing clients and for new places that Property Managers are planning to incorporate. This service is useful during Property Managers' negotiations with property owners, as they can this way expand their client portfolio by demonstrating efficiency and providing confidence.

Have you got any questions?

If you have any questions or want to talk to an expert on our team to learn how ListingOK will improve your STR business, you can schedule a quick call here.