Beyond vs PriceLabs
In this article, we offer a detailed comparison of two revenue management tools in the market, Beyond vs PriceLabs. In another blog, Airbnb Pricing Tools – Beyond Pricing vs PriceLabs, a Side-by-Side Comparison, Zeevou has also put together a comprehensive comparison of these two revenue management platforms.
User Review
In Capterra, Beyond has a rating of 4.5, with the highest score for Customer Service.
In Capterra, PriceLabs has a rating of 4.9, with the highest score for Customer Service and Value for Money.
Trustpilot introduces PriceLabs as an Excellent tool with a 4.5 TrustScore.
Price Recommendation
Beyond asks you to come up with the base price for your listings yourself. Then, it tweaks the prices by considering seasonality, day of the week, and local events.
Beyond does not determine the appropriate base price, but it shows you a measure called the Health Score of your listing. Health Score compares your listing’s occupancy with the occupancy in the overall market. It shows you whether you need to change your base price. This tool can also consider last-minute and orphan day discounts.
Beyond creates rates for the next 12 months of your listing’s calendar.
PriceLabs estimates a base price for listings according to their attributes and current performance. Reducing or increasing the base price will reduce or increase the price recommendations.
Its Dynamic Pricing solution can help to get price recommendations based on historical and current booking data, market supply and demand, seasonal and day-of-week trends, predictions of events and holidays, and days left to book.
This tool considers last-minute discounts, orphan day discounts, and far-out premiums in the price recommendation. A minimum and maximum price can also be set for the price recommendation.
If you need to override an automatic price recommendation by PriceLabs, you can use date-specific overrides and other customisation options.
Demand is estimated based on the occupancy of nearby Airbnb listings. Whenever nearby listings start to increase in occupancy, PriceLabs raises the price in response since this indicates an event has triggered an increase in demand.
PriceLabs does not calculate the price by comparing it to a competitive set. This should be done by the user manually.
With PriceLabs, you can calculate the occupancy rate for both a single unit and multiple units. It also has a Portfolio Occupancy Adjustment tool which can be applied to a group of listings.
Market Intelligence
For market insights, Beyond monitors Airbnb and HomeAway/Vrbo. Beyond shows Neighbourhood Occupancy, Neighbourhood Pricing, and Hotel Pricing in the Market Data section.
In Beyond, historical occupancy is analysed to predict future occupancy. Beyond monitors Airbnb and HomeAway to get neighbourhood data.
PriceLabs market intelligence can be found under its “Base Price Help.” Data can be categorised based on the property type: Studio, 1BR, 2BR, and 3+ BR.
PriceLabs Portfolio Analytics and Market Dashboard provide you with real-time reporting by comparing your properties with others in the neighbourhood.
The tool can also show price and occupancy trends on specific dates. It provides the Future Prices graph, showing how property managers are pricing their listings for future dates.
Your synchronised PMS/Airbnb/Vrbo listings are automatically updated overnight by PriceLabs. Instead of the default overnight sync, you can schedule a price sync at a time of your choice as part of the Dynamic Pricing subscription. Alternatively, you may schedule more than one daily sync at the cost of $1/listing/month for each extra sync.
KPI Reports
In Beyond, a measure called Health Score is defined with red, yellow, and green colours which determine how you are selling your property in the market. For example, the Health Score can show you have priced your listing too low if you are booking up too fast.
However, Beyond cannot correctly calculate the occupancy rate of multi-unit listings.
In the STATS section, you can find your recent bookings to monitor your booking pace. Beyond reports occupancy rate, Average Daily Rate, revenue by stay date, maximum daily rate, revenue per available night, revenue by booking date, average stay length, average booking lead time, bookings by booking date, and bookings by check-in date.
PriceLabs gives details on six KPIs for the past seven or 30 days in the area compared to the same period in the past.
- Estimated Revenue for the past period is displayed in the currency you have selected.
- The Average Occupancy percentage for the past 30 days is displayed compared to the 30 days prior to that.
- Active Listings shows the number of active listings for the past 30 days compared to the 30 days prior to that.
- A comparison of the number of stays for listings in the area for the past 30 days compared to the 30 days prior to that is shown under Bookings.
- Median Booking Window shows how far in advance reservations have been placed for the past 30 days compared to the 30 days prior to that.
- The median Length of Stay for bookings made within the past 30 days is shown compared to the 30 days prior to that.
PriceLabs provides various reports in the form of charts and graphs for Supply and Demand, Market History, Price and Occupancy Trends, Common and Desired Amenities, and Weekly and Monthly Discounts.
Automation and Customisation
With Beyond, you can set your prices, and the calendar will be filled with prices for 12+ months. Furthermore, you can set minimum and maximum prices and customise minimum stay prices. Beyond lacks the grouping feature, which is very useful when you need to manage numerous listings. It does not support the differentiation of minimum length of stay for weekdays and weekends, and it does not allow the automatic updating of a minimum length of stay for far-out bookings, either. However, minimum stay can be automatically adjusted for last-minute bookings and orphan days.
With PriceLabs, you can specify weekday and weekend minimum stays. Moreover, the tool automatically updates the minimum stay for far-out and super far-out bookings. You can adjust prices for the day of the week or apply minimum, maximum, or percentage changes on specific dates.
PriceLabs can automatically manage minimum stay for orphan days and last-minute discounts. Furthermore, this Airbnb pricing tool offers a minimum weekend pricing feature that can be applied to an account, group or listing.
PriceLabs’s Custom Seasonal Profile lets you override the software’s seasonality calculations and gives you more control and customisation.
Another useful feature that PriceLabs offers is mapping listings. This maintains rate parity between similar listings automatically. So, similar listings can be mapped, and the prices and customisations of the parent listing will be automatically copied to the child listings.
This tool also offers occupancy-based adjustment and portfolio occupancy-based adjustment. Thus, you can save a lot of time since the prices can be changed automatically based on the occupancy of the listing or of a portfolio.
Pricing
Beyond offers two different payment options, Pay on Book and Pay on Stay.
Pay on Book: All accounts are set to Pay on Book by default. When a booking is made, you are charged 1% of the total, including fees and excluding tax and security deposits. Also, annual plans require a yearly commitment.
Pay on Stay: In case you prefer to be charged at the time of the stay, you can choose Pay on Stay, which charges 1.49% on the day of check-in.
Beyond offers a 30-day free trial, as well as a free Insights service.
PriceLabs offers separate pricing plans for Dynamic Pricing (starts at $19.99/month) and Market Dashboards (starts at $9.99/month). The amount decreases when the number of listings increases and the pricing might differ based on the properties’ locations.
There is also a free version of this tool for Portfolio Analytics.
Where Do PriceLabs and Beyond Get Their Data from?
Both Pricelabs and Beyond pull market data from Airbnb and Vrbo.
Beyond vs PriceLabs: Which Revenue Management Tool to Choose?
Both PriceLabs and Beyond are excellent pricing tools, with their own unique benefits. Which one you choose ultimately comes down to the specific features that are of interest to you.
Beyond’s emphasis on customer satisfaction has led to the creation of more innovative and useful tools. Moreover, they offer a large selection of free resources and tutorials so that everyone can use their products easily.
PriceLabs is more competent at customisation, listing management, and automation, which is very important, especially when you have to manage numerous listings.
Take advantage of the free trials of both PriceLabs and Beyond to decide which is best for your business. And keep in mind that, even though these tools are smart, they still require regular monitoring and customisation!
We are committed to ensuring that all our comparison articles are factually entirely correct and accurate. If you have spotted anything that you feel is wrong or misleading in this article, we’d appreciate hearing from you.
