Lacking a quick view of your vacation rental portfolio performance against the market? Aware of what nights sold and revenue performance in your portfolio look like in relation to the same time period the year before? Knowing these indicators is an excellent way to easily identify profits and pitfalls in your short-term rental management & revenue approach so you can maintain or gain the most profitability with the most control.
With the Company Performance BI dashboard, identify underperforming properties or areas of your business. Check pricing against your competitors to ensure maximum return on investment.
- How to manage vacation rental portfolio analysis & compare pricing against competitors
- How does the Company Performance BI tool work?
- What is BI and why property and revenue managers should use it
- How Transparent BI works & how you can get started
Manage vacation rental portfolio performance & compare pricing against competitors
Understanding your STR portfolio performance against the market instantly brings you closer to having a fuller view of any shortcomings. It also means that you can make proactive adjustments to combat these shortcomings. So, here’s the intel from how our Company Performance BI dashboard gives you these insights all in one page:
Monitor portfolio performance
Identify top-performing listings by looking at nights sold and revenue made daily, monthly, and yearly compared to the last year. Surveil whether the evolving numbers garner a positive or negative trend over time. In this vein, you can make projections, track current performance, and identify any segments where you are over or underselling. You can also display the report internally to give your team targets and motivation.
Identify underperforming properties
Moreover, identifying underperforming listings is critical so as to not ignore the potential of your portfolio during vacation rental portfolio analysis. Monitor the changes in demand, and what any dips in revenue look like so you can justify them or react and consider factors in your pricing and general strategy.
You find a particular week in your portfolio is doing significantly worse than the year before in nights sold. This prompts you to examine the cause to prevent any further loss of income. Possibly there is a protest going on in the area, or there is a listing error or a maintenance issue that has slipped past your team. Maybe your market’s average daily rates are lower year on year and your prices are no longer aligned.
Whatever the case, recognize in real-time your low-performing periods of time within the framework of comparing against last year’s performance, in order to be proactive and optimize returns.
Check pricing against competitive sets
Property managers consistently want to be benchmarking their prices against that of their competitors.
Imagine you find your numbers are aligned with your competitive sets. In other words, you are on the right track. Maybe you find your portfolio and the market are both performing poorly. Although this is not ideal, it can signify an external factor at hand. On the other hand, what if you see your numbers are worse than the market? This might tell you there is something more direct at play that needs to be discovered and addressed as soon as possible so as not to leave any money on the table.
In summary, the purpose of the Company Performance dashboard is to enhance your portfolio by giving you the right tracking metrics and signifiers that guide you to constantly reinforce and improve your revenue strategy.
How does the Company Performance BI tool work?
The Company Performance dashboard has a Nights Sold display. Shown are nights your portfolio has sold the week, month, and year to date as well as for the previous year.
A graphic dial monitors the negative or positive trending difference between each compared period of time to visually signify to you the change.
A similar style of information is displayed in the second display in the form of sales. Shown are the week, month, and year revenue of the set, compared to the metrics last year. Again you have the help of a graphic dial to better visualize the change. The last of the values provided is the average property revenue per property of your portfolio.
What is BI and why property & revenue managers should use it
BI structures your own PMS data and contextualises it with market data from our 45M scanned OTA listings. The templates (and bespoke, analyst queries) ask questions of this data lake to answer the main business questions and growth blockers experienced by PMs. This means that today’s PMs have the answers to manage their revenue more effectively, improve inventory acquisition and retention and make their operations more efficient through data insight – through one actionable platform. Property and revenue managers benefit from this tool for its valuable metrics which support business decisions based on real-time data.
How Transparent BI works & how you can get started
We connect directly with your PMS via API to retrieve and structure the data into an actionable dashboard. In brief we pull data from major OTAs (Airbnb, Booking.com, Vrbo & TripAdvisor), large PM sites enriched with anonymised partner data. We use this to build a data lake and competitive set comparisons for any market worldwide.
Users are then able to plug and play any of our templates to find answers to their most pressing strategic questions. Our data analysts are also on hand to assist you in building custom queries on the data lake to answer further questions you might have.
So you’ve heard how this template offers vacation rental portfolio performance analysis, but there are 12 others to plug and play on our BI dashboard. Explore them all below or book a free trial for one that suits your needs:
- Market Overview – Analyze reviews & monitor market supply
- Market Performance – Benchmark from historical metrics, including occupancy, ADR & RevPAR
- Top Competitors – Understand your competitive landscape by PM & listing
- Comp Set Research – Identify similar property groups for comparison & adjustments
- Rental Calculator – Run data-based performance projections for any address
- Benchmark Estimates – Track key metrics against market
- Demand Report – Understand demand trends in your market
- Daily Pacing – Track how bookings for a certain date & properties are evolving against a benchmark year
- Top/ Worst – Need to prioritize revenue management across your portfolio? Identify your best and worst performing properties to assess & improve
- Rate Shopping – Compare individual listings to a predefined comp set to check price positioning
- Owner Report – Automate custom reports to proactively communicate contextual performance