A performance metric used in the hospitality industry that calculates the average revenue generated per available room, considering both occupancy rate and average daily rate.
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Glossary Term: Occupancy Rate
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A realistic occupancy rate that a short-term rental property can achieve in a specific market, considering factors like seasonality, competition, and property type.
The average number of nights that guests typically stay in a short-term rental, influenced by factors like property type, location, and seasonality.
The process of managing and updating the availability of a short-term rental property across multiple booking platforms to avoid double bookings and maximize occupancy.
The percentage of time a short-term rental property is occupied by paying guests over a specific period.
The projected percentage of time a short-term rental property is expected to be occupied over a year, taking into account seasonal fluctuations and historical data.
The percentage of a short-term rental property that is booked during the month of April, often considered a shoulder season month in many destinations.
A pricing strategy where the price of a short-term rental approaches a certain level as the booking date gets closer. This strategy often involves lowering prices as the check-in date nears to avoid vacancy.
A key performance indicator (KPI) that measures the percentage of time a short-term rental property is booked over a specific period, reflecting its popularity and revenue potential.
The percentage of time a short-term rental property is booked over a specific period, indicating its popularity and revenue-generating potential.
A metric used to measure the percentage of time a short-term rental property is booked over a specific period, indicating the property’s popularity and potential revenue generation.
A key performance indicator (KPI) in the hospitality industry, calculated by dividing the total revenue generated from bookings by the number of nights booked.