Press release
BNB Success Announces Launch of NightlyIQ 1.0 for Short-Stay Pricing Decisions
NightlyIQ uses nightly property and competitive-set data to assess each listing's occupancy, booked rate and booking pace against its local market. It then recommends settings an operator can review and implement, including base-price changes, day-of-week adjustments, gap-night discounts, minimum stays, and pricing for events, advance bookings and last-minute bookings.
The platform presents the data behind each recommendation and sets a testing window for assessing a change. At the end of that window, it compares the property's performance with its market. NightlyIQ also tracks listing impressions, views and bookings to help operators identify where prospective guests leave the booking process.
In a preliminary internal analysis of the same 284 properties, BNB Success compared the launch fortnight of June 5-19 with September 21-27. The properties' forward-booked revenue increased 64%, while forward-booked revenue in their competitive markets increased 30%. On that basis, the properties' forward-booked revenue relative to their competitive markets increased 26%, or 1.26 times its earlier level. The analysis compares periods of different lengths, and the figures have not yet been reconciled with the company's published dashboard.
"Two properties with similar layouts can produce different booking results, even within the same building," said Jordan Pham, Co-Founder of BNB Success. "NightlyIQ evaluates each property's results individually and gives operators specific settings to review."
BNB Success developed NightlyIQ 1.0 alongside its short-stay education and operational programs. The platform uses property and competitive-set data from PriceLabs. PriceLabs is a third-party data source and pricing tool; this announcement does not indicate a partnership or endorsement.
BNB Success plans to develop a later version of NightlyIQ that would automate the implementation of recommended settings. That functionality remains in development and is not part of NightlyIQ 1.0.
About BNB Success
BNB Success is a Melbourne-based short-stay education and technology company founded by Jordan Pham, Stanley Ma and Terence Mok. Its programs and software support operators in assessing and managing short-stay properties.
Contact Details
Organization: BNB Success
Contact Person: Jordan Pham
Website: https://bnbsuccess.com.au/
Email: Send Email [https://dashboard.kingnewswire.com/release-contact/49483]
Address: 80 Dorcas St, Southbank VIC 3006
City: Melbourne
Country: Australia
Release Id: 01102649483
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