What is Property Analytics and how to use it?
What’s on this page:
Property Analytics serves as a dynamic tool empowering users to effortlessly track key metrics like occupancy rate, gap, ADR (Average Daily Rate), revenue, and blocked days at a property level. This feature provides the ability to make precise price adjustments for optimizing each property’s performance.
Accessing Property Analytics:
1. Navigate to the left-side menu bar.
2. Click on the “Analytics” dropdown.
3. Select “Property.”
What is the Occupancy Gap?
The Occupancy Gap is a comparison of the current value, compared to that same value last year at the same point in time. Another way to describe this would be like this: our current occupancy is 45%. Last year, at this time, we were booked to 40%. The Occupancy Gap would be 5 because we are 5 points ahead of last year.
What are Reviews?
These are the review scores collected from the OTA channels. The first value is for the managed properties. The second value is for the surrounding market.
What are Blocked Days?
Blocked Days are specific days when the property is neither reserved nor available. Typically, owners block off these days for private use or maintenance purposes. It’s a way to manage the property’s availability and ensure it aligns with the owner’s personal or maintenance schedule.
These days are excluded from the Occupancy calculation.
Utilizing Show Same store
Same store is designed to reduce the impact of inventory change on the comparative metrics. This filters to only the properties that existed last year AND still exist this year. New and less mature properties will be excluded when this filter is selected.
Understanding “Active Properties Only”
This filter removes any inactive properties from the analytics.
Checking Forecasted Occupancy, ADR, and Revenue:
On the Property page, simply hover over the graph to observe current, forecasted and market data. This offers a quick and easy method to evaluate whether expected occupancy, ADR, and revenue goals will be met.
- Current – this is the current value for everything booked in the selected period.
- Forecast – the projected final position of this metric based on historical trends.
- Market – the current position of the surrounding market for the selected period.
Filter options
Effortlessly target pertinent property data using our user-friendly filter options. These filters, including Stars, Underpriced, Overpriced, and Product Issues, empower you to make well-informed decisions for your pricing strategies.
- Stars – Identify markets with higher occupancy than the market average and higher ADR compared to the previous month.
- Underpriced – Locate markets with higher occupancy than the market average but lower ADR than the previous month.
- Overpriced – Find markets with lower occupancy than the market average but higher ADR than the previous month.
- Product Issues – Review markets with lower occupancy than the market average and lower ADR than the previous month.
Key Metrics Filter
This additional filter option allows you to view property analytics more precisely. By clicking the “Filter” button on the upper right of the Property page, you can filter key metrics such as the following:
- Occupancy Range
- ADR Range
- Revenue Range
- Blocked Days Range
How to adjust price by Property?
Tailor your pricing strategies with precision by adjusting prices at the Property level. This step-by-step guide will walk you through the process, from accessing Property analytics to implementing adjustments.
1. Navigate to the left-side menu bar.
2. Click on the “Analytics” dropdown.
3. Select “Property.”
4. Select the Property for which you want to adjust prices.
5. Click on “Pricing.”
6. On the Price Adjustment page, choose the dates for applying adjustments.
7. Then, select your desired multiplier and check the impact it has on the price. You can also set a minimum or maximum price for each month.
8. Finally, click “Save” to apply changes before the end of the day or “Save and Send” for real-time application.
Add to Price Adjustment Queue
For those instances when timing is crucial and you do not have time to evaluate the entire portfolio, our “Add to Price Adjustment Queue” feature comes to the rescue. Learn how to seamlessly create a working queue to quickly evaluate and adjust pricing as needed.
1. Navigate to the left-side menu bar.
2. Click on the “Analytics” dropdown.
3. Choose “Property.”
4. Tick the box of the Property you want to adjust the prices.
5. Then, click “Add to Price Adjustment Queue.”
Pricing Calendar
To view the property’s price per night on the calendar view easily, follow these steps:
1. Navigate to the left-side menu bar.
2. Click on the “Analytics” dropdown.
3. Choose “Property.”
4. Select the Property for which you want to view the pricing calendar.
5. Click on “Calendar.”
6. You can also view the reservations by toggling on “Show Reservations.”
This tool is designed to empower you, ensuring that you can adapt to evolving dynamic pricing with confidence. Whether you’re fine-tuning prices based on occupancy rates, ADR, or revenue, or strategically queuing adjustments for later implementation, our Property Analytics feature equips you with the insights and flexibility needed to set your pricing competitively.
If you have any further questions or require assistance, our support team is always here to help you make the most of this resource.
Property: Buttons and Settings Video
Property: How to use it Video
