The percentage of time a vacation rental is booked over a specific period, indicating its popularity and profitability.
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Glossary Term: Occupancy Rate
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The percentage of time a short-term rental property is booked over a specific period, often used as a key performance indicator (KPI) for rental success.
Setting competitive rental rates that align with guest expectations, local market trends, and the overall value provided to ensure a positive booking experience.
Strategies and techniques used to maximize the occupancy rate of a short-term rental property, such as dynamic pricing and minimum stay adjustments.
The average or expected number of guests staying in a short-term rental property over a specific time period.
A key performance indicator (KPI) used in the hospitality industry to measure the revenue generated per available rental unit over a specific period. It helps assess the profitability and efficiency of a rental property.
A situation where the number of available short-term rentals in a specific market exceeds the demand from travelers, potentially leading to lower occupancy rates and rental income.
The percentage of booked nights in a short-term rental property during the third quarter of the year (July, August, September).
A comprehensive analysis of a short-term rental property’s performance during the third quarter, including occupancy rates, revenue, expenses, and key performance indicators.
A booking requirement that guests must reserve the property for a minimum of three nights, common during peak seasons or for larger properties.
The strategy of setting competitive rental rates based on factors like seasonality, demand, and competitor analysis.