The average number of nights that guests typically stay in a short-term rental, influenced by factors like property type, location, and seasonality.
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Glossary Term: Revenue Management
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Tools that use algorithms and market data to dynamically adjust rental prices based on factors like demand, seasonality, and competitor pricing.
Tools that track rental prices across multiple platforms to ensure consistent pricing and avoid discrepancies that could impact bookings.
A performance metric used in the hospitality industry that calculates the average revenue generated per available room, considering both occupancy rate and average daily rate.
The percentage of a short-term rental property that is booked during the month of April, often considered a shoulder season month in many destinations.
Data points used to track the financial health and performance of a short-term rental property, including occupancy rate, average daily rate (ADR), and revenue per available room (RevPAR).
A dynamic pricing tool for short-term rentals that analyzes market data, seasonality, and demand fluctuations to automatically adjust rental rates for optimal revenue generation.
A dynamic pricing strategy that adjusts rental rates based on real-time market demand, seasonality, and competitive listings, often using algorithms and data analysis.
A revenue management approach for short-term rentals that focuses on optimizing pricing and occupancy to maximize profitability, often using data analytics and forecasting tools.
A dynamic pricing strategy for short-term rentals that uses algorithms and machine learning to analyze factors like demand, seasonality, and competitor pricing to automatically adjust daily rates for optimal revenue.
An additional fee charged to guests for optional amenities or services beyond the standard rental offering, such as early check-in, late check-out, or use of specialized equipment.
A cleaning fee that is spread out over multiple bookings, typically calculated based on the average cleaning cost per stay and the expected booking frequency.