Represents the practice of adjusting rental rates in real-time based on factors like demand, seasonality, and competitor pricing.
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Glossary Term: Revenue Management
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Emphasizes the strategic approach to maximizing rental income by optimizing pricing, occupancy rates, and revenue streams.
Key performance indicators (KPIs) used to track the success and profitability of a short-term rental business. These include metrics like occupancy rate, average daily rate (ADR), and revenue per available rental (RevPAR).
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.
A pricing strategy where the Minimum Price Limit is set, ensuring the host receives a minimum payment for their short-term rental, regardless of discounts or promotions.
A pricing approach where hosts set the lowest acceptable nightly rate for their short-term rental, often used during low season or to attract last-minute bookings.
A humorous term for a revenue management strategy or tool focused on maximizing income from short-term rental properties.
A pricing strategy used by short-term rental hosts to attract bookings during weekdays (typically Monday through Thursday) by offering a reduced rate compared to weekend prices.
A pricing strategy that uses algorithms to adjust rental rates based on real-time market demand, seasonality, competitor pricing, and other factors.
A metric used to measure the percentage of time a short-term rental property is booked over a specific period. It is calculated by dividing the number of booked nights by the total number of available nights.
A revenue management strategy that focuses on maximizing rental income by optimizing pricing, occupancy rates, and operational efficiency.
Tools that automatically adjust rental rates based on factors like demand, seasonality, and competitor pricing to optimize revenue.