While the vacation and short term rental industries have ground to a halt in most areas around the world, our Revenue Management and Data Science teams have been working to analyze and publicize the data around how our industry is changing. We have made available up-to-date local data on the majority of popular destinations here in order for property managers to be better informed during this time.
However, at Beyond Pricing our mission is to make the best pricing decisions for you with the best data, not just to showcase it. Relying on over 240,000 directly connected listings as well supporting data from the major OTAs, we have been analyzing the effect COVID-19 has been having on our industry at a local level. We have been constantly updating our COVID-19 Discount to ensure that we have the proper price in place to maximize revenue in these trying times.
Given the recent global developments, we have rolled out our dynamic COVID-19 Discount through June. With the objective of positioning our customers for a bounce back in travel and bookings, we have calibrated those discounts per-market, taking into account all of the factors impacting the performance in the short-medium term.
Combining the experience of our Revenue Management team with the key performance indicators of each market, such as booking pace, cancellation rates, booking lead time and future pick-ups, as well as global COVID-19 indicators, we released a gradual schema reducing your current pricing and reacting to the overall impact.
Here at Beyond Pricing we will continue to monitor the changes we are seeing in markets across the world and use this information to ensure we are adjusting your pricing accordingly. We urge property managers and owners to reach out if we can supply information or data that will help you during this uncertain time.