The percentage of time a short-term rental property is booked and occupied during a given week, often used as a key performance indicator (KPI) in the industry.
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Glossary Term: Occupancy Rate
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A metric that measures the percentage of time a vacation rental property is booked over a specific period, indicating its occupancy performance.
A metric that measures how frequently a vacation rental property is booked and occupied over a specific period, reflecting its popularity and profitability.
A metric used to track the percentage of time a short-term rental property is booked over a specific period, calculated by dividing the number of booked nights by the total number of available nights.
Refers to the days or nights when a short-term rental property is vacant and not generating revenue. Minimizing void periods is crucial for maximizing occupancy rates and profitability.
A process of examining periods when a short-term rental property is vacant or unbooked to identify patterns, understand booking trends, and optimize pricing and marketing strategies to minimize vacancy rates.
The practice of strategically setting rental rates to maximize occupancy and income, often using dynamic pricing tools and market analysis.
The overall success of a vacation rental listing in terms of bookings, revenue, occupancy rate, and guest reviews.
The shortest duration for which guests can book a short-term rental, impacting occupancy rates and cleaning schedules.
A situation where the number of short-term rentals in a particular market exceeds guest demand, potentially leading to lower occupancy rates and price competition.
The process of determining the optimal nightly rate for a short-term rental based on factors like seasonality, demand, competition, and property features.
The practice of analyzing data and market trends to optimize pricing and occupancy rates for maximum revenue.