The Market Performance dashboard is a one-stop-shop for the most important market metrics, a must-have which brings a comprehensive yet easy to understand overview of your location. For instance, review the performance of the main players in your market — Average Daily Rates (ADR), length of stay (LOS), occupancy, RevPAR (Revenue Per Available Rental), booking window (lead time) and Gross Booking Value (GBV). Start finding market data for property managers right now!
What’s more, our focused metrics and graphs allow you to keep your finger on the pulse of the market with a single page. Furthermore, dissect performance through different market segments using an easy and smart filtering system to adjust the data to a certain date range, area, property type or a particular competitor. Explore the main dashboard metrics, key benefits, target audiences, pain point solutions, and why BI is important in PM operations.
Main dashboard metrics
With this in mind, lets take a quick overview of the dashboard’s main facilities and why its the perfect market data tool for property managers.
- Market listing count — active number of listings in your area depending on your filters
- ADR ‘22/’23 overview — available daily rate showcases the prices of properties rented
- LOS ‘22/’23 overview — average length of stay in a selected market. This is good to now, e.g. People stay an average of (x) days on these periods in time period (z)–you can see how this may have evolved since 2023
- Occupancy ‘22/’23 overview — estimated % of reserved nights out of a total number of available nights in your market
- RevPar ‘22/’23 overview — calculation of your market’s Revenue Per Available Rental, based on ADR multiplied by occupancy (ADR x Occ%). Hence you get you the quickest overview of the evolution of return in your market
- Booking window ‘22/’23 overview — comparison of number of days that guests are booking in advance. And so you can spot trends and inform your pricing strategy
- Gross Booking Value ‘22/’23 overview — full amount of payments/ total revenue processed
A glimpse at the dashboard visuals
Throughout the dashboard, data covers 2019, ‘20, ‘21, ‘22 and soon 2023 for each metric, giving you a consolidated and bright visualisation of:
- ADR evolution, to spectate the seasonal and yearly increase and decrease of rate in your market:
2. Occupancy evolution to see the seasonality and trends of your whole professional field. In other words, you can compare trends in different segments of your competition or market:
3. Your market’s RevPAR metrics, which allow you to analyse your two most important metrics at the same time: occupancy and ADR performance combined in one graph:
4. Length of stay preferences of visitors to your market to see trends in customer behaviour. Additionally, the evolution of the area into a more short term or midterm rental. Note that this often happens with fast developing business districts or alternatively, resorts and vacation rentals:
5. Booking window (lead time) progression. As a result, you see how the area’s sustainability and demand is rising or decreasing over each year through the seasons:
6. GBV of your area and your competition at the scale of each month and year. For instance, you can analyze the revenue potential of the market:
7. Finally, a day-of-week analysis. In sum, this helps you to understand and correlate the pricing and occupancy of each day, rising or decreasing year over year:
Key benefits of our market data for property managers
On the whole, our Market Performance template is a turn-key solution for a couple of reasons– as an avenue for market data for property managers, it provides:
- An X-ray of your professional area and the trends at the glance.
- A resource to filter for any specific need that may arise with its vastly customisable presets that can be tailored to your needs.
- A set in place YoY comparisons from 2019 until now for historical trend analysis. You can monitor occupancy year over year, and potentially build an estimate of revenue for the future.
- Every day of week metrics, such as ADR and occupancy. For instance, You will find answers to: What does my ADR compare to in the market? Does It have a high seasonality?
- Essential filtering capabilities allowing you to select areas, amenities, subtypes and more
- Totally exportable information in one click for external analysis
Who is the Market Dashboard for?
In particular, the Market Performance dashboard is a constructive starting point for anyone who is engaged with revenue management in the vacation rental market, or wishing to understand their area performance better. Especially:
- Revenue managers — for valuable metrics which support business decisions based on real-time data. Consequently, this allows for maximal efficiency of pricing strategies, renting policies and guest retention in specific segments
- Property managers — helps to focus on strategic demand trends, and better understand their competitive set. Last, providing useful benchmarks
- Marketing managers — whose ability to transparently tailor marketing strategies, based on YoY performance trends
- Real Estate investors — for whom knowledge of the area and its year-over-year metrics would help to understand return on investment of properties proposed or acquired
Pain points this market data for property managers resolves
- All functional market metrics in one place.
- Easy to understand and interpret data.
- Clear market segmentation and comparison.
- Easy-export tool with multiple use-case scenarios. For example, understanding subtype ADR, analysing market seasonality, comparing year-over-year, to name a few.
- Tracking the market fidelity by setting the automatic email reporting.
What’s included in this market data for property managers?
- Market supply and demand with thorough filtering abilities
- Essential metrics: ADR, Occupancy, LOS, BW, RevPAR & Gross Booking Value
- Year over Year comparison of each of the essentials for trend identification
- Data back to 2019 for the essential market metrics
- Weekdays data for ADR and occupancy for each year
Why BI is important in PM operations
All in all, business intelligence solutions are ever more crucial to property manager operations in an evolving data-driven environment. They help:
- Organize your own data with contextual market data and assess investment opportunity
- Utilize transparent historical and forward looking projections for a robust 360 view of the marketplace
- Identify trends and actions for performance to do things like improve review scores
- Streamline internal and external operations
- Gain and retain stock and clients by monitoring and increasing occupancy and ADR
Book a demo to understand the nuances of a specific market’s profile, procure an insight into market evolution and monitor the metrics, plus improve on these metrics. Furthermore, along with 12 other templates you can explore here, the dashboard comprises a holistic solution for PMs to grow with data.