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 [...]
Dynamic Pricing vs. Pricing Setting a Price There are numerous ways that firms can decide to set prices for their goods and services. If a seller has perfect information about the marketplace, the decision is quite simple. They can calculate all the possible prices [...]
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