The process of dividing potential guests into different groups based on shared characteristics, such as demographics, travel purpose, or booking behavior. This allows hosts to tailor their marketing messages and offerings.
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Glossary Term: Market Research
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The process of collecting, analyzing, and interpreting data related to short-term rental performance, such as occupancy rates, revenue, and guest demographics.
An individual piece of information collected and analyzed in the context of short-term rental management, such as occupancy rates, average daily rates, or guest reviews.
The process of researching and evaluating similar short-term rental properties in the same area to understand market trends, pricing strategies, and competitive advantages.
The average expense of basic necessities in a specific location, such as housing, food, transportation, and utilities, influencing pricing strategies for short-term rentals.
The process of researching and comparing similar short-term rental properties in the same market to understand pricing trends, occupancy rates, and guest preferences.
A small, relatively permanent statistical subdivision of a county or equivalent entity delineated by the US Census Bureau. Useful for analyzing demographic and economic data in proximity to a potential short-term rental investment.
Evaluating the performance of short-term rentals based on their location within specific zip codes, considering factors like demand and competition.
A report that compares a short-term rental property to similar listings in the area to determine its competitive pricing and occupancy potential.
The practice of dividing your target market into smaller groups based on shared characteristics, such as travel purpose, budget, or group size.
A detailed analysis of a specific short-term rental property or host’s performance, used for learning and benchmarking.
Researching and understanding the local short-term rental market, including competitor pricing, occupancy rates, and guest demographics.