User-Driven Innovation – Grand Welcome, among others inspired PriceLabs’ Breakthrough Release

Jonathon Supranowicz of Grand Welcome shares his collaborative journey with PriceLabs, highlighting PriceLabs as a dedicated partner that has consistently adapted to meet evolving industry and user needs, resulting in significant impacts across critical dimensions of Revenue Management, empowering Grand Welcome to;

• Scale quickly and enter new markets confidently
• Improve efficiency with reduced manual adjustments
• Adapt to ongoing market changes seamlessly

Background: Grand Welcome & Jonathon Supranowicz

Grand Welcome is one of the fastest-growing vacation rental and property management companies in the United States. Their extensive property portfolio spans from the sun-drenched shores of Florida to the picturesque mountains of California and beyond.

Grand Welcome is dedicated to delivering a world-class experience for both homeowners and guests, and operates under a Franchise model, growing from 5 to nearly 70 franchise locations nationwide, in just under three years.

Though Grand Welcome maintains a few legacy corporate locations; they are now primarily focused on their thriving franchise model, effectively redefining their presence in the hospitality industry.

Jonathon Supranowicz, a revenue expert and a seasoned revenue professional in the hospitality industry with a background spanning several years, has been with Grand Welcome for the last three years, where he has transitioned into a more business intelligence-focused role, while still maintaining responsibilities in revenue management, including configuring algorithms and ensuring that system aligns with their rate strategies.

Jonathon Supranowicz, Business Intelligence Manager at Grand Welcome talks about his PriceLabs journey.

Before PriceLabs

In the era before software solutions revolutionized revenue management, the landscape was dramatically different. Jonathon’s early years in the field were marked by the absence of revenue management software, forcing him to undertake all tasks manually. This manual approach presented several time consuming challenges.

Challenge 1: Labour-intensive manual market research

Before Revenue Management softwares and automations existed, Jon faced the formidable challenge of labor-intensive manual market research. He and his team spent countless hours researching markets and competitors online, struggling to keep up with ever-changing market dynamics. This challenge not only strained resources but also made it difficult to stay competitive in a rapidly evolving industry.

Challenge 2: Time consuming implementation of daily rate adjustments

Another significant hurdle was the time-consuming process of implementing daily rate adjustments. Without automation Grand Welcome had to manually fine-tune rates, leading to delays and a less responsive approach to market fluctuations. This challenge hindered their ability to optimize pricing efficiently and adapt to changing demand patterns.

The Journey with PriceLabs

Moving to PriceLabs marked a significant improvement. The new system proved to be a game-changer, offering a level of efficiency and functionality that surpassed their previous software. Since then, PriceLabs has empowered Jonathon and the Grand Welcome team to manage multiple locations more effectively, providing valuable support during times when exhaustive attention may not be possible, especially considering the company’s extensive reach.

Experiencing PriceLabs’ Breakthrough Release features

Grand Welcome made the switch to PriceLabs’ Hyper Local Pulse algorithm.

PriceLabs Hyper Local Pulse Algorithm

Feature 1: Dynamic Seasonality Enhancement

In Jon’s words, “The introduction of PriceLabs’ new Hyper Local Pulse algorithm has been nothing short of exceptional. PriceLabs has raised the bar by crafting a dynamic seasonality feature that meticulously analyzes localized data, considering factors such as demand trends, historical patterns, and real-time market fluctuations.” This dynamic approach ensures that Grand Welcome’s pricing strategy evolves with the times, adapting seamlessly to the ever-changing market landscape.

Users can now easily select between 4 pricing strategies; 1. Conservative 2. Recommended/default 3. Aggressive or 4. No Seasonality (Ideal for properties catering to consistent demand)

Feature 2: Individual Unit Comp Sets

PriceLabs’ neighborhood section now offers the capability to select and analyze up to 10 specific units in the area, providing in-depth graphs and charts to scrutinize the performance of each unit individually. This level of granularity empowers property managers to fine-tune pricing strategies for each unit, optimizing revenue and occupancy on a unit-by-unit basis.

Feature 3: Subgroup Segmentation

The introduction of subgroup options is a game-changer. Now, not only can Grand Welcome create parent groups to categorize their units efficiently, but can also establish subgroups with tailored settings for specific sets of units. This flexibility enables them to apply specialized strategies to distinct segments of their property portfolio, ensuring maximum control and optimization.

Feature 4: Enhanced Security and improved user access management

PriceLabs now offers the ability to accommodate multiple user logins simultaneously, making it easier for growing teams to collaborate effectively. The recent updates, including detailed logs that let you quickly identify who made what change, as well as view-only access options, provide the control companies need as they expand their teams. These enhanced security and user settings are invaluable for maintaining data integrity and limiting access to sensitive information.

Updated team settings enable simplified delegation with view or edit permissions and and detailed logs let you quickly identify who made what change and when. 

PriceLabs as a Revenue Management Solution Partner

“It’s been an amazing journey. A great partnership, where the PriceLabs team has taken a lot of what we’ve asked for and implemented it; allowing us to be able to really scale our business as we’re continuing to grow rapidly and be efficient and making sure we’re getting into these markets not only fast and quick, but knowing that our pricing strategy is going to be sound.”
– Jonathon Supranowicz, Business Intelligence Manager, Grand Welcome