The importance and financial benefits associated with longer guest stays at a short-term rental property, contributing to higher revenue and reduced turnover costs.
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Glossary Term: Revenue Management
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A pricing strategy that adjusts rental rates in real-time based on factors like demand, seasonality, and competitor pricing.
The process of predicting future demand for short-term rentals based on historical data, seasonality, and market trends.
A dynamic pricing strategy used by short-term rental hosts that adjusts rental rates based on factors like seasonality, demand, events, and competitor pricing.
A pricing strategy where short-term rental rates fluctuate based on real-time market demand, seasonality, competitor pricing, and other factors. This approach helps hosts maximize occupancy and revenue.
The practice of adjusting rental prices in real-time based on factors like demand, seasonality, and competitor pricing.
Income generated from short-term rentals that fluctuates in a predictable pattern, often reflecting seasonal demand and pricing strategies.
A pricing strategy that adjusts nightly rates based on real-time market demand, seasonality, and other factors.
The process of predicting future demand for short-term rentals based on historical data, market trends, and other factors.
A pricing strategy where rental rates vary depending on the day of the week to account for fluctuations in demand, such as higher prices on weekends and lower prices during weekdays.
A metric that tracks the total number of nights a short-term rental property is booked over a specific period, expressed as a percentage of the total available nights.
The practice of adjusting pricing and availability strategies for short-term rentals to maximize revenue. It involves analyzing market trends, seasonality, competitor activity, and other factors to optimize occupancy and average daily rates.