A report that compares a short-term rental property to similar listings in the area to determine its competitive pricing and occupancy potential.
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Glossary Term: Pricing Strategy
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Strategies and tools used to optimize occupancy rates and revenue based on factors like seasonality, demand, and pricing.
The practice of adjusting rental prices based on factors like demand, seasonality, and competition to maximize revenue.
The strategic application of data analysis and pricing strategies to maximize revenue and profitability from short-term rental properties.
Evaluating the performance of short-term rentals based on their location within specific zip codes, considering factors like demand and competition.
A pricing strategy that adjusts rental rates based on factors like demand, seasonality, and competitor 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.
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 RevPAR that a short-term rental can achieve based on its attainable occupancy rate and attainable average daily rate (ADR).
The typical timeframe in advance that guests book short-term rentals in a particular market or for a specific property type, influenced by factors like seasonality and demand.