The practice of optimizing pricing, availability, and marketing strategies to maximize revenue generated from short-term rental properties.
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Glossary Term: Occupancy Rate
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Data points used by hosts and property managers to track the success of their short-term rental business.
The percentage of time a short-term rental property is booked over a specific period. A high occupancy rate indicates strong demand and revenue potential.
Strategies and tools used to optimize booking patterns based on anticipated demand and seasonal trends, maximizing occupancy and revenue.
A hypothetical term referring to a pricing strategy that leverages data and artificial intelligence to optimize rental rates. Dynamic pricing is crucial for maximizing occupancy and revenue in the short-term rental market.
In the context of short-term rentals, this refers to periods when a property is vacant and not generating revenue between bookings.
The percentage of time a short-term rental property is booked over a specific period, representing the optimal balance between maximizing revenue and avoiding excessive vacancy.
A metric used to measure the percentage of time a short-term rental property is occupied by paying guests over a specific period.
Strategies and techniques used to maximize the occupancy rate of a short-term rental property, such as adjusting pricing, using multiple booking channels, and offering promotions.
The use of data and software tools to track performance metrics related to yield management, such as occupancy rates, average daily rates (ADR), and revenue per available rental (RevPAR). This data helps hosts make informed decisions about pricing and availability.
Key performance indicators (KPIs) used to measure the effectiveness of yield management strategies for short-term rentals. These metrics include occupancy rate, average daily rate (ADR), revenue per available rental (RevPAR), and length of stay.
The percentage of time a short-term rental is booked during a specific period after it is first listed on platforms like Airbnb and VRBO, often influenced by pricing and marketing strategies.