A measure of a short-term rental’s success in attracting bookings within its specific market or niche.
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Glossary Term: Competitive Analysis
25 posts
Researching and understanding the local short-term rental market, including competitor pricing, demand trends, and seasonal fluctuations.
The prevailing rental rate for similar properties in the same market area, used as a benchmark for setting competitive pricing.
Researching and understanding the trends, competition, and demand for short-term rentals in a specific location.
Researching and analyzing rental rates for comparable properties in the same location and with similar amenities to determine a competitive price point.
The process of comparing a property’s performance metrics against industry averages or competitors to identify areas for improvement and track progress over time.
Tactics for increasing revenue and bookings for short-term rental properties compared to the previous year. This can involve improving property amenities, enhancing marketing efforts, or optimizing pricing strategies.
Comparable short-term rental properties in the same neighborhood, used to benchmark pricing, occupancy rates, and amenities.
A report that compares a short-term rental property to similar properties in the same market to determine a competitive rental rate. Factors considered include location, size, amenities, and seasonality.
Analyzing market trends, competitor pricing, and guest preferences to make informed decisions about your rental strategy and pricing.
Evaluating the performance of short-term rentals based on their location within specific zip codes, considering factors like demand and competition.
The process of gathering insights and data about the target audience, competitive landscape, and market trends to inform the development and refinement of effective brand messages for a short-term rental.