In the past few years, revenue management has become an indispensable pillar of vacation rental property management.
As a result, several revenue management platforms have appeared on the market, promising invaluable data insights and expert help with finding the optimal rates for your rentals every day.
But how do you know which one is right for your business?
In today’s article, we’re introducing you to the new kid on the block: Turbosuite. The Spanish startup is rapidly breaking into the revenue management industry – and they’ve already achieved some impressive results with their clients.
Without further ado, let’s learn more about them!
Turbosuite is one of the finalists of the VRTECH Startup Competition 2021 alongside Vintory and Rented.com. Join us at the Vacation Rental World Summit on 16-17 September for the final showdown!
What is Turbosuite?
Turbosuite is a Revenue Management System (RMS) for vacation rentals. It uses Big Data and predictive analytics to improve the performance of vacation properties.
There are several other revenue management platforms on the market, so what makes Turbosuite different?
According to Manuel Martín, CEO at Turbosuite, their system uses 100 times more data than their competitors. They use a 360º integral service, applying pricing strategies with different rates according to the market segmentation.
“While our competitors only publish one price per day, we publish 60 different prices depending on the type of client we are looking for,” said Manuel.
Furthermore, Turbosuite analyses and compares 1,000 properties a day versus competitors who compare only around 10. According to Turbosuite, this makes their data more reliable.
As a result, Turbosuite has been able to provide their clients with the following results:
- Boost revenue by 37.6%.
- Increase Average Daily Rate (ADR) by 14.3%.
- Improve the ranking and visibility of listings.
“In the vacation rental industry, there are no effective revenue management tools,” said Manuel. “We have developed a linear regression algorithm with more than 100 weighting factors. We analyze more than 2 million data points a day for each managed property,” he added.
Turbosuite’s extensive modules guarantee scalability, while its many integrations ensure a high level of connectivity.
The company prides itself on the originality of its concept, code, design and architecture.
“Turbosuite is a SaaS that changes the paradigm of all previous processes. Instead of following 10 competing hotels, our system studies the competition of the entire city,” said Manuel.
Who is Turbosuite for?
Turbosuite is for any and all property managers looking to improve their revenue management, get more bookings and increase revenue.
The software is available worldwide. Currently, Turbosuite has clients in Europe, LATAM and the Caribbean. They are actively expanding into the USA market.
The pricing is a percentage of the NET revenue Turbosuite generates for its clients. They offer three levels of service:
- Basic: 1.2%
- Professional: 1.35%
- Enterprise: 1.5%
They also offer personalised plans for clients, depending on their needs.
To learn more about Turbosuite, watch this video.
How Turbosuite helped Aviles & Norling skyrocket their revenue
Aviles & Norling is a property management company with properties on the southern coast of Spain (Costa del Sol). They manage between 65 and 75 units (depending on the season), most of which are located in the town of Torre del Mar.
Before they started working with Turbosuite, they had hit a roadblock in trying to increase their overall occupancy and revenue.
According to Carlos Aviles from Aviles & Norling, Turbosuite helped them achieve their revenue goals well ahead of time. “What was going to take a whole 12-month period took only 6 months,” said Carlos.
As a result, Aviles & Norling is now looking at adding more apartments to their portfolio. Without the help of Turbosuite, they wouldn’t have gotten to a point where they can start focusing on growth so quickly.
According to Carlos, it was the Tubosuite team’s “professional behaviour and availability” that ultimately convinced them to use their product. Following this overwhelmingly positive experience, Carlos would recommend Turbosuite to all hotel and vacation rental property managers.
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