Measurable values that track the success and performance of a short-term rental business, such as occupancy rate, average daily rate, and guest satisfaction.
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Glossary Term: Occupancy Rate
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Emphasizes the strategic approach to maximizing rental income by optimizing pricing, occupancy rates, and revenue streams.
Key performance indicators (KPIs) used to track the success and profitability of a short-term rental business. These include metrics like occupancy rate, average daily rate (ADR), and revenue per available rental (RevPAR).
The percentage of time a short-term rental property is booked and occupied by guests. Higher occupancy rates generally translate to increased revenue, but achieving optimal occupancy requires balancing pricing, marketing, and seasonality.
The strategic approach to maximizing rental income by optimizing pricing strategies based on factors like seasonality, demand, competition, and property attributes.
Strategies and tactics employed to maximize income from short-term rental properties, encompassing dynamic pricing, occupancy rate optimization, and revenue stream diversification.
Represents the practice of adjusting rental rates in real-time based on factors like demand, seasonality, and competitor pricing.
A measure of a short-term rental’s success in attracting bookings within its specific market or niche.
A measure of how much of the potential market for short-term rentals in a specific location is being captured by existing listings.
A pricing strategy used by short-term rental hosts to attract bookings during weekdays (typically Monday through Thursday) by offering a reduced rate compared to weekend prices.
A metric used to measure the percentage of time a short-term rental property is booked over a specific period. It is calculated by dividing the number of booked nights by the total number of available nights.