In late 2024, we published The Guesty Effect, an analysis of how property managers in the U.S. performed in their first year after switching to Guesty. The findings were clear: switching to Guesty drove meaningful gains in ADR, occupancy, and portfolio size, even against a backdrop of industry-wide softness.
Since then, we’ve gone further. We now have migration data on property managers who switched to Guesty from four legacy platforms — Hostaway, Track, Avantio, and Streamline — spanning their first two years on Guesty. Each cohort reflects the largest property managers in their respective markets, and the primary metric — gross booking value (GBV) per listing — captures total revenue impact more completely than any single indicator.
The question at the center of this research was simple: what is switching to Guesty actually worth? Here’s what the data shows.
Two years, four platforms, one pattern
Across all four groups, property managers saw revenue per listing grow between +8.2% and +18.0% per year after switching to Guesty. Results vary significantly by customer — portfolio growth ranged from more than 20% in two years up to more than 60% for Track customers, the most significant outcome in the study.
But perhaps the most useful framing is this: for every $1,000,000 in revenue that property managers brought in at the time of switching to Guesty, they generated between $1,268,453 and $1,876,497 within two years — depending on which platform they switched from. All of these figures come directly from the documented performance of managers in this study.
What’s behind the growth?
One consistent pattern across all four groups is where the growth came from: across all channels, managers saw more demand and more occupancy on Guesty than before. The standout, and the one that matters most to property managers, is direct reservations — growing in every single cohort. Direct bookings are the holy grail of short-term rental: no channel fees, full guest relationship ownership, and higher margins. Seeing consistent direct growth across all four migration groups may even be the most meaningful signal in this data. Vrbo also surged — up +77% by Year 2 for ex-Track managers and +63% for ex-Streamline — and Booking.com expanded meaningfully for ex-Avantio managers (+17%).
The growth in direct reservations in particular is largely driven by the AI strategy Guesty runs behind the scenes on your behalf: the AI Booking Engine improves property visibility in AI-powered search, while Guesty PriceOptimizer™ uses AI to maximize occupancy through smarter, real-time pricing decisions — making each property more competitive across every channel it appears on.
Listing growth is the other thread running through every cohort. This may reflect newfound operational capacity, greater confidence to scale, or more effective owner acquisition. In all cases, the data consistently shows that switching to Guesty coincides with portfolio expansion.
Results by platform
Guesty vs. Hostaway
Property managers who switched from Hostaway saw revenue per listing grow +11.4% per year on average. Total GBV per listing rose from an average $2,674 at Year 0 to $3,328 by Year 2. The strongest growth came from Airbnb (+29% by Year 2) and direct reservations (+27%), with overall GBV up +23%.
Portfolio growth was steady and sustained. Ex-Hostaway managers expanded their listing count by more than 20% over 24 months, reaching 22.1% growth by Month 24.
For every $1,000,000 in revenue moved to Guesty, this group generated $1,268,453 within two years.
For a full feature-by-feature comparison, see Guesty vs. Hostaway.
Guesty vs. Track
The ex-Track cohort produced the strongest results of any group in this study. Revenue per listing grew +18.0% per year on average, with total GBV climbing from $3,362 to $4,682 by Year 2. The biggest gains came from Vrbo (+77%), Direct (+70%), and non-core channels (+59%) — a pattern the data attributes to Guesty’s superior connections to higher host-payout channels.
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Portfolio growth was exceptional. Ex-Track managers grew their listing counts by more than 60% within two years, reaching 60.2% growth by Month 24, the highest of any cohort in this study.
For every $1,000,000 in revenue moved to Guesty, this group generated $1,876,497 within two years.
For a full comparison, see Guesty vs. Track.
Guesty vs. Avantio
The ex-Avantio cohort tells a different channel story. Growth was driven primarily by Booking.com (+17% by Year 2), Direct (+28%), and non-core channels (+35%), reflecting both Guesty’s deep Booking.com integration and a strong direct booking suite. Overall, revenue per listing grew +8.2% per year, with total GBV climbing from $2,511 to $2,929 by Year 2.
Portfolio growth reached 33.8% by Month 23.
For every $1,000,000 in revenue moved to Guesty, this group generated $1,292,652 within two years.
Guesty vs. Streamline
Ex-Streamline managers started with the highest baseline GBV per listing of any cohort, reflecting Streamline’s positioning with larger U.S.-based operators. From that base, revenue per listing grew +16.9% per year on average, with total GBV climbing from $5,584 to $7,810 by Year 2. The growth story here is centered on Guesty’s API depth: the data credits strong and stable performance across all channels, with Vrbo leading at +63%, followed by Direct (+51%) and Booking.com (+40%).
Portfolio growth reached 24% in less than three years.
For every $1,000,000 in revenue moved to Guesty, this group generated $1,633,619 within two years.
For a full comparison, see Guesty vs. Streamline.
Switching platforms is a real decision
Moving to a new PMS takes real effort, including migrating data, retraining teams, and adjusting workflows. The managers in this study made that investment, and across every cohort, the returns were measurable and consistent within two years.
Your specific outcome will depend on channel mix, property type, market, and starting point. What the data does show, consistently, is the pattern: across thousands of property managers, on four different platforms, in markets around the world, switching to Guesty produced more revenue per listing, more listings, and more revenue per dollar than what came before.
If you’re weighing a switch, that’s the baseline to work from.
Take a tour to see how Guesty can work for your business.
*Methodology: We analyzed performance data from property managers who onboarded to Guesty in 2023–2024, having previously operated on Hostaway, Track, Avantio, or Streamline. Study objective: comparison of GBV per listing, GBV per channel, and listing count in the 12 months before switching to Guesty versus the first 12–24 months on Guesty. Data source: imported performance data collected at onboarding and Guesty-processed data for the post-switch period. The Streamline cohort is limited to U.S.-based property managers; all other cohorts are global. The information provided herein is internal and for informational purposes only. While every effort has been made to ensure the accuracy of the data presented, the competitive landscape is subject to change and may not always reflect the most current market conditions. Users are encouraged to verify all data independently before making decisions based on the content presented herein.
