Additional services or amenities that guests can choose to add to their booking for an extra fee, providing flexibility and customization to their stay.
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Glossary Term: Revenue Generation
15 posts
Additional services offered to guests beyond the basic accommodation, enhancing their experience and potentially generating extra revenue. Examples include airport transfers, grocery delivery, or local experience bookings.
The financial performance of a short-term rental business, measured by factors like occupancy rates, average daily rates, and operating expenses.
Identifying opportunities to upsell additional services or amenities based on guest requests and preferences during their stay.
Managing a variety of short-term rental properties with different locations, sizes, or price points to mitigate risks and potentially increase revenue.
The profitability of a short-term rental, calculated by subtracting expenses (cleaning, fees, etc.) from rental income.
Strategic implementation of pricing, marketing, and operational strategies to optimize occupancy rates and maximize revenue generation for short-term rental properties.
The percentage of time a short-term rental is booked over a specific period, indicating the property’s popularity and revenue potential.
The percentage of time a short-term rental property is booked and occupied by guests over a specific period. Higher occupancy rates generally indicate greater profitability.
Strategies for maximizing revenue from a short-term rental property. This includes setting optimal pricing, offering additional services like airport transfers or grocery delivery, and leveraging dynamic pricing tools.
The percentage of time a short-term rental property is booked over a specific period, indicating its popularity and revenue potential.
Applying the Pareto principle to identify the 20% of guests who generate 80% of the revenue, enabling hosts to tailor their services and marketing efforts for higher profitability.