Evaluating the performance of short-term rentals based on their location within specific zip codes, considering factors like demand and competition.
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Glossary Term: Pricing Strategy
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A situation where one party’s gain is directly offset by another’s loss, sometimes relevant in competitive short-term rental markets.
A report that compares a short-term rental property to similar listings in the area to determine its competitive pricing and occupancy potential.
Strategies and tools used to optimize occupancy rates and revenue based on factors like seasonality, demand, and pricing.
Researching and understanding the local short-term rental market, including competitor pricing, occupancy rates, and guest demographics.
Strategies and techniques used to maximize revenue from short-term rental properties, including pricing optimization and occupancy management.
The practice of analyzing data and adjusting pricing to maximize revenue from a short-term rental property.
A pricing strategy that adjusts rental rates based on factors like demand, seasonality, and competitor pricing.
The amount of time between when a guest makes a reservation and the actual check-in date. Understanding booking lead time helps hosts forecast demand and adjust pricing strategies.
A realistic average daily rate that a short-term rental can achieve in a given market, considering factors like property size, amenities, location, and competition.
A realistic RevPAR that a short-term rental can achieve based on its attainable occupancy rate and attainable average daily rate (ADR).