NEWS STORIES FEATURES VIDEOS
Editorial comment
30•09•19 Welcome to the latest Short Term Rentalz weekly newsletter!
• After a number of significant recent investments in companies working in the short-term rental industry, revenue management tool Beyond Pricing this week announced a $42m Series A funding round led by Bessemer Venture Partners.
Across the short-term rental sector last week, Lavanda, AvantStay and Chengjia all closed Series A rounds, while Holidu finalised a €40 million Series C round. Now, Beyond Pricing has announced it will use its largest investment round to date to develop dynamic pricing tools for the rental market and expand its suite of revenue management products for owners, managers and developers alike.
Beyond Pricing's tools leverage proprietary data points to make pricing recommendations on more than 150,000 listings worldwide, scouring platforms to see what certain properties are charging, their vacancy rates and demand fluctuations among many details. It also charges one per cent of hosts' booking income to optimise their rates on a daily basis.
In terms of wider significance, the funding will help Beyond Pricing to provide property managers with the sort of technology that large hotel chains use to track comparative pricing for competitors [or an Uber Surge Price algorithm], as outlined by TechCrunch's Josh Constine. The firm's CEO Ian McHenry and Bessemer Venture Partners' Brian Feinstein add that in doing so, they are "transforming" an industry that has been "historically underserved by software".
In other news, we announced our inaugural Shortyz Awards for the short-term rental industry last week, which will take place in London on 11 March 2020, and the nomination period officially opens tomorrow [Tuesday 1 October].
Anyone can nominate themselves, their colleague or their company for a category at no cost by emailing our website at shortyz@internationalhospitality.media from tomorrow. Nominees will then be selected for shortlisting by a panel of industry experts, with the winners being announced at the Shortyz awards ceremony on 11 March.
With the global rental market set to reach US$170 billion in value by 2020, we feel this is the perfect opportunity to launch the Shortyz and bring the industry together for a recognised awards evening.
Discover what makes the Shortyz unique and why you should join me at the big event here.
If you have a story you want us to tell the industry, please click here and get involved with the community by commenting on our news stories on our website.
Paul Stevens, news editor
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