Researching and understanding the trends, competition, and demand for short-term rentals in a specific location.
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Glossary Term: Market Research
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Researching and understanding the specific trends, competition, and pricing dynamics within a particular geographic area to inform listing optimization and revenue management.
Researching and analyzing rental rates for comparable properties in the same location and with similar amenities to determine a competitive price point.
Data and trends provided by platforms like Airbnb and VRBO, offering insights into booking patterns, competitor performance, and market demand.
The process of comparing a property’s performance metrics against industry averages or competitors to identify areas for improvement and track progress over time.
A leading global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry. While not directly related to short-term rentals, their data analytics capabilities could potentially be used to analyze market trends and guest behavior in the travel and hospitality sector.
Researching and understanding the local short-term rental market, including competitor pricing, demand trends, and seasonal fluctuations, to optimize pricing and occupancy.
Comparable short-term rental properties in the same neighborhood, used to benchmark pricing, occupancy rates, and amenities.
Research and data analysis to understand the performance of short-term rentals in a specific location, including occupancy rates, average daily rates, and seasonality.
Researching and understanding local market trends, competitor activity, and demand drivers to inform pricing, marketing, and investment decisions.
A marketing strategy that divides a target market into smaller groups based on geographic location. Short-term rental hosts can use geographic segmentation to tailor their listings and marketing messages to specific regions or demographics.
Statistical data about guests, such as age, gender, location, travel purpose, and interests. Understanding guest demographics helps tailor marketing efforts and personalize the rental experience.