A metaphor for rapidly increasing profits in short-term rental management through strategic optimization of pricing, occupancy rates, and operational efficiency.
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Glossary Term: Revenue Management
274 posts
Leveraging price differences for the same short-term rental across multiple platforms, like Airbnb and VRBO, to maximize booking potential.
An estimation of the maximum possible income a short-term rental property could generate within a specific timeframe, considering factors like location, seasonality, and occupancy rates.
A financial statement that summarizes the revenues, costs, and expenses incurred during a specific period of time for a short-term rental business.
Analyzing key financial metrics such as occupancy rate, average daily rate, and net income to evaluate the profitability and success of a short-term rental property.
Estimating the potential income and expenses of a short-term rental property based on factors such as location, seasonality, and market demand.
Defining specific and measurable financial targets for a short-term rental property, such as desired occupancy rate or net income.
Ensuring the long-term profitability and viability of a short-term rental business by managing expenses, optimizing pricing, and adapting to market changes.
A pricing strategy where rental rates are adjusted based on factors such as occupancy rates, demand, and competitor pricing to optimize revenue.
The process of projecting future income and expenses for a short-term rental property based on historical data, market trends, and seasonality.
A pricing strategy where short-term rental property owners manually set their rental rates based on factors like seasonality, demand, competition, and their own financial goals.
A situation in short-term rentals where a property is booked for only a portion of the available dates within a given period.