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: Performance Measurement
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The process of collecting, analyzing, and interpreting data related to short-term rental performance, such as occupancy rates, average daily rates, and guest reviews, to make informed business decisions.
Data and insights gathered from various sources to understand booking patterns, guest behavior, and market trends.
Analyzing guest reviews to identify patterns and insights related to the preferences and expectations of the defined target market for continuous improvement.
The process of comparing a property’s performance metrics against industry averages or competitors to identify areas for improvement and track progress over time.
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.
Monitoring and analyzing key performance indicators (KPIs) related to short-term rental performance, such as occupancy rate, average daily rate, and guest satisfaction scores.
A marketing metric that measures the average cost incurred to acquire a new guest booking. It is calculated by dividing the total marketing expenses by the number of bookings generated.
Metrics used to measure the success and performance of a short-term rental business, such as occupancy rate, average daily rate, and revenue per available room.
Key performance indicators (KPIs) used to track the financial performance of a short-term rental, such as occupancy rate, average daily rate, and revenue per available room.
A marketing metric that measures the average cost incurred to acquire a new booking. It helps hosts evaluate the effectiveness of their marketing campaigns.
The process of comparing a short-term rental business’s performance against industry best practices and competitors to identify areas for improvement.