Revenue Opportunity Revenue managers have a finite amount of daily time to make decisions. Each decision they make should improve the probability of increased revenue, and they must spend that time efficiently to have the most significant possible impact on revenue [...]
Pricing a New Vacation Rental Property 🏁 Getting new properties As a property manager, growing your inventory is one of the primary drivers of increasing your company's revenue. However, attracting these properties is a unique endeavor of its own. So [...]
Does Revenue Management still work during COVID-19? 🏁 Let's start with Revenue Management Revenue Management is both a science and a practice of price discrimination, the economics term for charging different prices for the same product. It can be applied [...]
The End of Base Price: A QuibbleRM Case Study Revenue Management The process of adjusting prices to better match demand is called revenue management and is a form of price discrimination. It is a practice widely used today to increase [...]
Pricing, forecasting, and benchmarking: Master the two primary sources of competitive data Competitive data in the short-term rental market gives managers answers to important questions regarding their pricing strategy. This type of data is also used in revenue management and pricing [...]
Forecasting Revenue: Why is it Vital for Vacation Rentals? ✅ The basics of Forecasting The term forecasting can be intimidating for those who have not done it before, but it does not need to be that way. In its most [...]
Occupancy (OCC) Occupancy is a metric represented as a rate or percentage used by vacation rental managers to describe how full their properties are. A single vacation rental can be 50% occupied for the 4th of July weekend, or an entire portfolio [...]
Who are your competitors? This question seems simple enough. Competitors are companies that you are competing with to win customers. For most businesses, a search of the web would help you find the majority of your competitors. For short-term rental (STR) managers, identifying competitors [...]
What is forecasting? Quite simply, forecasting is determining what is going to happen in the future. Forecasts are useful to predict changes in stock prices, weather, or how many nights somebody will book your property in the coming months. Different industries use different methods to [...]
Determining Seasonality in Demand Forecasting for Vacation Rentals What is Seasonality? In the world of demand forecasting, Seasons are refined datasets used in building a forecast. When a person or application is tasked with estimating future demand, they will almost [...]
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