The practice of establishing specific, measurable, achievable, relevant, and time-bound objectives for short-term rental businesses, such as occupancy rates or revenue targets.
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Glossary Term: Revenue Management
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A pricing strategy that considers factors like demand, seasonality, and competitor pricing to optimize rental rates based on guest behavior.
A dynamic pricing strategy that adjusts rental rates based on factors such as demand, seasonality, competition, and guest behavior. This approach aims to optimize occupancy and revenue.
The practice of increasing nightly rates for short-term rentals during periods of high demand, such as holidays, special events, and peak travel seasons.
A dynamic pricing strategy where rental rates are adjusted based on real-time factors influencing demand, such as seasonality, events, holidays, and competitor pricing.
A pricing strategy used to maximize rental income by analyzing market demand, seasonality, and competitor pricing to adjust rental rates dynamically and optimize occupancy.
A pricing strategy where hosts offer lower rental rates during periods of low demand or the off-season to attract bookings and maintain some occupancy even when travel is slower.
A pricing strategy that adjusts nightly rates based on real-time factors like demand, seasonality, and competitor pricing.
Specialized consulting services that help short-term rental owners and investors optimize their financial performance, including revenue management, expense tracking, and tax planning.
A calendar view that displays bookings far in advance, allowing hosts to anticipate demand, adjust pricing, and plan for future reservations.
A dynamic pricing strategy that adjusts rates based on the frequency of bookings within a specific time period, often used to maximize occupancy during low-demand seasons.
Programs offered by some platforms or property managers that guarantee a certain level of bookings or income for hosts who meet specific criteria.