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Case Study

Troy in Michigan

Troy went from cleaning units himself to running one of northern Michigan's fastest-growing STR brands. Whole-portfolio revenue grew from $1M on 24 earning listings the year before Foundry to $5.3M on 160 tracked listings in the most recent twelve months, while occupancy on the listings active in both periods rose from 37% to 50%.

Year Over Year, Whole Portfolio
Troy revenue before and after Foundry Bar chart comparing 12-month stay-date revenue: $1M before Foundry versus $5.3M after, a +411% increase. $1M BEFORE FOUNDRY $5.3M AFTER FOUNDRY +411%
Listings Priced 24 to 160
Apr 2023 to Mar 2024 vs Aug 2025 to Jul 2026, stay-date revenue
$885K to $915K on the 15 listings earning throughout both years, with rates carrying the gain in a seasonal market
Occupancy on the listings active in both periods rose from 37% to 50%
Year one alone brought $1.85M, up 79% from the pre-Foundry baseline
Verified Results

Results in Numbers

Monthly Revenue, Same Listings

Troy monthly revenue Bar chart of monthly stay-date revenue for Troy from Apr '23 to Jul '26, indexed to the average month before Foundry onboarding. Foundry starts Apr '24. The highest month reaches 3.2x the pre-Foundry average. A data table follows this chart. 0x 1x 2x 3x 4x Apr '23Jul '23Oct '23Jan '24Apr '24Jul '24Oct '24Jan '25Apr '25Jul '25Oct '25Jan '26Apr '26Jul '26
Monthly Revenue, Same Listings
MonthRevenue vs average pre-Foundry month
Apr 20230.5x
May 20231.0x
Jun 20231.4x
Jul 20232.9x
Aug 20232.2x
Sep 20231.4x
Oct 20230.9x
Nov 20230.3x
Dec 20230.3x
Jan 20240.3x
Feb 20240.3x
Mar 20240.4x
Apr 20240.4x
May 20240.9x
Jun 20241.8x
Jul 20243.2x
Aug 20242.4x
Sep 20241.3x
Oct 20241.1x
Nov 20240.4x
Dec 20240.2x
Jan 20250.2x
Feb 20250.3x
Mar 20250.4x
Apr 20250.4x
May 20251.1x
Jun 20252.0x
Jul 20253.0x
Aug 20252.6x
Sep 20251.3x
Oct 20250.9x
Nov 20250.4x
Dec 20250.3x
Jan 20260.2x
Feb 20260.3x
Mar 20260.3x
Apr 20260.3x
May 20260.9x
Jun 20261.7x
Jul 20263.2x
Monthly stay-date revenue, Apr 2023 to Jul 2026, indexed to the average pre-Foundry month (1x).

Year Over Year, Same Listings

Troy revenue before and after Foundry Bar chart comparing 12-month stay-date revenue for Troy: $885K in the 12 months before Foundry onboarding versus $915K in the 12 months after, a +3% increase. A data table follows this chart. $885K Before Foundry Apr 2023 to Mar 2024 $915K Last 12 Months Aug 2025 to Jul 2026 +3%
Year Over Year, Same Listings
WindowRevenueOccupancy
Before Foundry (Apr 2023 to Mar 2024)$885K45.0%
After Foundry (Aug 2025 to Jul 2026)$915K48.2%
Comparing the 12 months before Foundry onboarding (Apr 2023 to Mar 2024) with the most recent 12 months (Aug 2025 to Jul 2026), stay-date revenue.
The Complete Story

Monthly Revenue, Whole Portfolio

Troy monthly revenue Bar chart of monthly stay-date revenue for Troy from Apr '23 to Jul '26, indexed to the average month before Foundry onboarding. Foundry starts Apr '24. The highest month reaches 23.2x the pre-Foundry average. A data table follows this chart. 0x 5x 10x 15x 20x 25x Apr '23Jul '23Oct '23Jan '24Apr '24Jul '24Oct '24Jan '25Apr '25Jul '25Oct '25Jan '26Apr '26Jul '26
Monthly Revenue, Whole Portfolio
MonthRevenue vs average pre-Foundry month
Apr 20230.4x
May 20230.9x
Jun 20231.4x
Jul 20232.9x
Aug 20232.3x
Sep 20231.5x
Oct 20230.9x
Nov 20230.3x
Dec 20230.3x
Jan 20240.3x
Feb 20240.4x
Mar 20240.5x
Apr 20240.5x
May 20241.3x
Jun 20243.0x
Jul 20245.1x
Aug 20244.4x
Sep 20242.3x
Oct 20241.9x
Nov 20240.6x
Dec 20240.6x
Jan 20250.6x
Feb 20250.6x
Mar 20250.8x
Apr 20250.8x
May 20252.0x
Jun 20255.2x
Jul 202511.5x
Aug 20258.1x
Sep 20253.6x
Oct 20252.8x
Nov 20251.1x
Dec 20251.4x
Jan 20261.1x
Feb 20261.0x
Mar 20261.6x
Apr 20261.7x
May 20264.6x
Jun 202611.2x
Jul 202623.2x
Monthly stay-date revenue, Apr 2023 to Jul 2026, indexed to the average pre-Foundry month (1x).
Including Every Listing Added

Year Over Year, Whole Portfolio

Troy revenue before and after Foundry Bar chart comparing 12-month stay-date revenue for Troy: $1M in the 12 months before Foundry onboarding versus $5.3M in the 12 months after, a +411% increase. A data table follows this chart. $1M Before Foundry Apr 2023 to Mar 2024 $5.3M Last 12 Months Aug 2025 to Jul 2026 +411%
Year Over Year, Whole Portfolio
WindowRevenueOccupancy
Before Foundry (Apr 2023 to Mar 2024)$1M5.0%
After Foundry (Aug 2025 to Jul 2026)$5.3M27.2%
Comparing the 12 months before Foundry onboarding (Apr 2023 to Mar 2024) with the most recent 12 months (Aug 2025 to Jul 2026), stay-date revenue.

From Hectic Host to High-Growth Operator

Troy’s path from hectic host to high-growth operator is a masterclass in scaling the right way. When we first met him in 2021, he was managing 18 properties and doing most of the work himself: guest messages, maintenance, even the cleaning. That phase taught him every inch of the business, and it made one thing clear. Systems and team are everything.

The Foundry Partnership

In March 2024, his company became our very first Foundry client. Northern Michigan is one of the most seasonal markets in the country, so the strategy was built around the calendar: occupancy-focused pricing in the off-season, rate-focused pricing in peak months, and separate snow and no-snow minimum-stay rules for the properties near the ski hill.

Short-booking-window discounts filled gaps without giving away peak inventory. Suspiciously low Booking.com rates tied to stacked discounts were caught and corrected in the first season.

How We Measure This

Troy’s is a growth story, so the numbers come in two layers. The whole-portfolio figures include every listing PriceLabs tracks today: 24 were earning in the year before onboarding, 160 are tracked now, most added during the engagement and priced by Foundry from day one. The same-listings figures isolate the 15 listings that earned revenue throughout both comparison years, which is the part pricing alone can claim.

The Compounding Years

Whole-portfolio stay-date revenue was $1M in the twelve months before onboarding. Year one brought $1.85M, up 79%. The most recent twelve months, August 2025 through July 2026, reached $5.3M, more than five times the pre-Foundry baseline, every dollar of it actual stay-date revenue, not projection.

  • $1M to $5.3M whole-portfolio in the most recent twelve months
  • Occupancy on the listings active in both periods up from 37% to 50%
  • $885K to $915K on the 15 original listings, with rates holding through the scale-up

On identical inventory the revenue gain is modest, and that is the honest shape of this story: the compounding came from Troy adding well-chosen homes at pace while the pricing system kept every one of them earning from its first week. Adding over a hundred listings in one regional market is how an operator floods their own calendar. Instead, the original homes held their revenue and gained 13 points of occupancy while the portfolio grew more than fivefold around them.

Along the way the team brought housekeeping in-house and launched a Guest Experience division. With pricing handled, Troy’s team stayed focused on the two things that compound: quality and growth.

“Taking pricing off my plate let me focus on what actually grows the business: quality and guest experience. The results speak for themselves.”

- Troy

Client Testimonial

Hear It From Scaling to $5.3M a Year in Northern Michigan

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