BLOG TOPICS
Get It NowIn these times of growing inflation and ever-changing demand for travel, proactively sharing key vacation rental data and analysis with owners is more important than ever. Getting ahead of any worries or concerns from your owners is essential to remind them that their properties are in the best hands.
Sharing the right metrics and information will go a long way in engaging with and strengthening your relationships with owners, which all adds up to stronger owner retention. In addition to sharing revenue, sharing just a few more metrics and analyses is crucial to helping them understand how their properties are performing. And if you can get ahead and manage your owners’ expectations in advance, explaining any drop in demand or helpful rate decreases will be much easier.
Year-over-year (YoY) revenue is one of the most common ways to measure short-term rental performance. However, YoY revenue growth does not always prove that you’ve maximized a listing’s revenue potential. This is where RevPAN comes in.
Revenue per available night, or RevPAN, shows a more accurate and equal picture of revenue management performance over a given period of time. Similar to RevPAR in the hotel industry, RevPAN measures revenue earned for available nights, and can give your owners great insight into the overall performance of their properties. It can help easily demonstrate the opportunity cost of owner stays or maintenance blocks that can have a substantial impact on performance, and it is a fantastic indicator of profitability, since it’s able to clearly communicate whether or not a property is effectively selling all bookable nights when compared to operational costs.
Beyond users have an advantage here as RevPAN is easily available in Insights on our revenue management platform, making it easy to pull this information to send to your owners (and no complicated calculations are necessary!).
The past few years in the vacation rental world have not operated normally, so comparing year-over-year (YoY) can sometimes be misleading and doesn’t tell the full story.
Instead, share data that compares your owners’ property performance against the market. This will give them the most accurate view and pulse check of how their listings are doing. Note any discrepancies in the data and offer your expert analysis.
Most owners consider their property as an investment, and they expect to earn a return on that investment. Often though, they think of their minimum price as the amount they need to earn to be ROI positive. However, we know that this is not always the case. It will go a long way to educate your owners about the strategy of setting minimums in order to actually get the most ROI out of their property. Let them know that by analyzing data like occupancy and ADR, you arrive at a better, more accurate minimum price for each season that will drive stronger ROI.
You can also share that you check on how often a property hits the defined minimum price for the next 90 days, as this will ensure the minimum price isn't too limiting and is always allowing the rate to fluctuate based on demand.
With all of these unique/unpredictable trends, take the time to share examples of past performance that highlight great bookings, how you keep up with trends in your market, and how your revenue management platform gives you an edge over the competition. Providing a behind-the-scenes view into your strategy is a great opportunity to show off your expertise, and a chance to open up the conversation beyond just revenue.
A few examples of things you can share with owners:
It is important to communicate and demonstrate to your owners the value you bring to them and their properties. Using Beyond to help show market data, demand trends, and the other tactics you are implementing will strengthen the quality of your owner communications, and build trust. Get our best-in-class data at your fingertips today!
Mi tincidunt elit, id quisque ligula ac diam, amet. Vel etiam suspendisse morbi eleifend faucibus eget vestibulum felis. Dictum quis montes, sit sit. Tellus aliquam enim urna, etiam. Mauris posuere vulputate arcu amet, vitae nisi, tellus tincidunt. At feugiat sapien varius id.
Eget quis mi enim, leo lacinia pharetra, semper. Eget in volutpat mollis at volutpat lectus velit, sed auctor. Porttitor fames arcu quis fusce augue enim. Quis at habitant diam at. Suscipit tristique risus, at donec. In turpis vel et quam imperdiet. Ipsum molestie aliquet sodales id est ac volutpat.
Elit nisi in eleifend sed nisi. Pulvinar at orci, proin imperdiet commodo consectetur convallis risus. Sed condimentum enim dignissim adipiscing faucibus consequat, urna. Viverra purus et erat auctor aliquam. Risus, volutpat vulputate posuere purus sit congue convallis aliquet. Arcu id augue ut feugiat donec porttitor neque. Mauris, neque ultricies eu vestibulum, bibendum quam lorem id. Dolor lacus, eget nunc lectus in tellus, pharetra, porttitor.
"Ipsum sit mattis nulla quam nulla. Gravida id gravida ac enim mauris id. Non pellentesque congue eget consectetur turpis. Sapien, dictum molestie sem tempor. Diam elit, orci, tincidunt aenean tempus."
Tristique odio senectus nam posuere ornare leo metus, ultricies. Blandit duis ultricies vulputate morbi feugiat cras placerat elit. Aliquam tellus lorem sed ac. Montes, sed mattis pellentesque suscipit accumsan. Cursus viverra aenean magna risus elementum faucibus molestie pellentesque. Arcu ultricies sed mauris vestibulum.
Senectus nam posuere ornare leo metus, ultricies. Blandit duis ultricies vulputate morbi feugiat cras placerat elit. Aliquam tellus lorem sed ac. Montes, sed mattis pellentesque suscipit accumsan. Cursus viverra aenean magna risus elementum faucibus molestie pellentesque. Arcu ultricies sed mauris vestibulum.
Montes, sed mattis pellentesque suscipit accumsan. Cursus viverra aenean magna risus elementum faucibus molestie pellentesque. Arcu ultricies sed mauris vestibulum. Montes, sed mattis pellentesque suscipit accumsan. Cursus viverra aenean magna risus elementum faucibus molestie pellentesque. Arcu ultricies sed mauris vestibulum.
Nunc sed faucibus bibendum feugiat sed interdum. Ipsum egestas condimentum mi massa. In tincidunt pharetra consectetur sed duis facilisis metus. Etiam egestas in nec sed et. Quis lobortis at sit dictum eget nibh tortor commodo cursus.
Morbi sed imperdiet in ipsum, adipiscing elit dui lectus. Tellus id scelerisque est ultricies ultricies. Duis est sit sed leo nisl, blandit elit sagittis. Quisque tristique consequat quam sed. Nisl at scelerisque amet nulla purus habitasse.
Nunc sed faucibus bibendum feugiat sed interdum. Ipsum egestas condimentum mi massa. In tincidunt pharetra consectetur sed duis facilisis metus. Etiam egestas in nec sed et. Quis lobortis at sit dictum eget nibh tortor commodo cursus.
Morbi sed imperdiet in ipsum, adipiscing elit dui lectus. Tellus id scelerisque est ultricies ultricies. Duis est sit sed leo nisl, blandit elit sagittis. Quisque tristique consequat quam sed. Nisl at scelerisque amet nulla purus habitasse.
Nunc sed faucibus bibendum feugiat sed interdum. Ipsum egestas condimentum mi massa. In tincidunt pharetra consectetur sed duis facilisis metus. Etiam egestas in nec sed et. Quis lobortis at sit dictum eget nibh tortor commodo cursus.
Morbi sed imperdiet in ipsum, adipiscing elit dui lectus. Tellus id scelerisque est ultricies ultricies. Duis est sit sed leo nisl, blandit elit sagittis. Quisque tristique consequat quam sed. Nisl at scelerisque amet nulla purus habitasse.
Nunc sed faucibus bibendum feugiat sed interdum. Ipsum egestas condimentum mi massa. In tincidunt pharetra consectetur sed duis facilisis metus. Etiam egestas in nec sed et. Quis lobortis at sit dictum eget nibh tortor commodo cursus.
Odio felis sagittis, morbi feugiat tortor vitae feugiat fusce aliquet. Nam elementum urna nisi aliquet erat dolor enim. Ornare id morbi eget ipsum. Aliquam senectus neque ut id eget consectetur dictum. Donec posuere pharetra odio consequat scelerisque et, nunc tortor.
Etiam egestas in nec sed et. Quis lobortis at sit dictum eget nibh tortor commodo cursus.
sed interdum. Ipsum egestas condimentum mi massa. In tincidunt pharetra consectetur sed duis facilisis metus. Etiam egestas in nec sed et. Quis lobortis at sit dictum eget nibh tortor commodo cursus.