A strategic planning tool used to identify the Strengths, Weaknesses, Opportunities, and Threats of a vacation rental business.
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Glossary Term: Business Strategy
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Examining historical data, such as occupancy rates and booking patterns, to identify patterns and predict future demand.
The strategy of generating income from multiple sources within a short-term rental business, such as offering additional services like cleaning, tours, or experiences.
Regular assessments, conducted every three months, of key performance indicators like occupancy rates, booking trends, and revenue to inform business decisions.
A continuous improvement cycle used in short-term rental management to analyze data, implement changes, and track results for optimization.
The principle that roughly 80% of effects come from 20% of causes. In short-term rentals, this can apply to understanding which 20% of your efforts bring in 80% of your bookings or revenue.
A situation where one party’s gain is directly offset by another’s loss, sometimes relevant in competitive short-term rental markets.