✅ 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 basic form, a forecast is just a guess at what will happen in the Read More
“Turnover is vanity, profit is sanity, but cash is king for your business.” 👑 Cash is King That is a widely used quote highlighting the most crucial metric in any business. Short term and vacation rentals can provide excellent cash flow Read More
Occupancy rate = booked nights ÷ available nights. A property available 31 nights with 20 booked is at 64.5% occupancy. It's the industry's favorite demand indicator — and the most misused metric in revenue management. What Is Occupancy Rate? Occupancy is a percentage that describes how full Read More
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 can be Read More
Which cancellation policy should you choose? Cancellations are never fun. Historically the vacation rental industry has enjoyed a host-friendly cancellation policy structure. It is common for property managers and homeowners to use strict cancellation policies giving traveling guests little to no flexibility. Naturally, the cancellation rate Read More
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 achieve Read More
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