Analyzing key metrics such as occupancy rates, revenue, guest satisfaction, and market trends to evaluate the success of rental operations and identify areas for improvement.
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Glossary Term: Performance Metrics
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A metric that measures the percentage of time a vacation rental property is booked over a specific period, indicating its occupancy performance.
The collection, analysis, and interpretation of data related to vacation rental property performance, such as occupancy rates, revenue, and guest demographics.
The difference between actual third-quarter performance metrics (e.g., revenue, occupancy) and the projected or budgeted figures, highlighting deviations from expectations.
A rating system used on Airbnb and VRBO where guests rate their experience on a scale of one to five stars across various criteria.
A key performance indicator (KPI) in the hospitality industry that measures the revenue generated per available rental unit, calculated as average daily rate multiplied by occupancy rate.
A designation awarded by Airbnb to hosts who consistently provide exceptional guest experiences, meet specific performance criteria, and maintain high ratings.
(Derived term) Setting unrealistic expectations in STR, such as expecting full occupancy year-round, can lead to disappointment and frustration. It’s crucial to set achievable and realistic goals.
The total income generated from short-term rental bookings within a three-month period, often analyzed to track seasonal trends and financial performance.
A coveted designation awarded by short-term rental platforms to hosts who consistently deliver exceptional guest experiences and meet specific performance criteria.
A statistical graph that represents cumulative frequency data. In the context of short-term rentals, an ogive could be used to analyze trends like booking lead times, occupancy rates over time, or the distribution of guest reviews.
The process of collecting and analyzing data related to occupancy rates, booking patterns, and revenue to optimize pricing and listing performance.