Vacation rental demand data gives great clarity around trends and forecasting to optimize across your portfolio and not leave a single dollar on the table. Without data-based demand insight, you are blind to trends in your short-term rental market based on events, seasonality, days of the week, the economy, and other factors. Capture the market share by evaluating rental demand in your market with our Transparent BI Demand Report – one dashboard of many in Transparent BI that will give you all of the indicators necessary to carefully adjust your operations and produce better yields.
- What you get using our Demand Report
- Why is analyzing demand important?
- How to use the Demand Report dashboard
- Who is our BI for?
- What is BI and why is it important
- How Transparent BI works & how you can get started
What you get using our Demand Report
Transparent BI’s Demand Report provides a map you can rely on for your vacation rental strategy. With a greater understanding of metrics such as occupancy on the books (OTB), property managers can forecast market performance and set rates accordingly. Consequently, your revenue will be maximized. Plus, tracking demand metrics tells you whether you’re heading in the right direction compared to the rest of the market.
Our rental calculator projects key vacation rental data for a given property based on a set of personalized parameters. By tailoring with various granular filters, the report will mine our industry-leading market data and return for you:
- Occupancy OTB
- Achieved Occupancy
- Achieved number of bookings YoY
- ADR of booked listings
When would you need to strategize around these metrics? Let’s look at several different use cases where the Demand Report will optimise your profitability.
Investigate and compare occupancy rates over time in any market
Finding it hard to strategise around the varied demand that your portfolio experiences? Do you have a revenue plan set in place for each of your properties that optimizes your yield and is based on short-term rental (STR) market data? In effect, these provided indicators will signal to you to carefully adjust your pricing strategy, or let you know that you are on the right path to optimize your revenue streams. Either way, this performance visibility positions you to prioritize your efforts and invest where it matters.
Project future rates
With the Demand Report, you can observe projected occupancy rates and these rates compared with achieved occupancy. Furthermore, you can also observe ADR from 2019 onward, giving you the evolving rates of your market.
Understand different sectors of your market for growth– What does the occupancy evolution of your competitors look like to guide your benchmarking strategy? What’s the demand forecast of your market during a specific spike period so you can profit accordingly? How has seasonality in the past particularly affected your market so that you know what to expect?
Test alternative methods before lowering your rates
Understanding short-term rental data early allows you to first implement alternative strategies before lowering your prices. For instance, in periods of low demand, PMs may shift focus onto their marketing strategy before rather than lowering rates so soon. From there, they can offer promotions or target an audience before having to decrease rates whilst tracking the effectiveness of marketing campaigns.
Identify pricing opportunities: what can vacation rental demand tell you about the revenue you aren’t gaining?
If your listings are experiencing lower occupancy rates, having reliable visibility over this and proactively adjusting your strategy allows you to capture existing demand ahead of your competition. On the other hand, if your occupancy rates are consistently higher than average, you can strategically lift your ADR whilst maintaining optimal occupancy.
Why is analyzing vacation rental demand data important?
Analyzing vacation rental demand data is particularly important when looking at the demand due to the variety of external factors:
- Events will shift demand patterns and evolve year on year. Imagine your market is building higher demand than the years previous for Easter. Or perhaps the annual music festival has doubled its capacity. In those cases, you have the metrics in your hands to adapt your revenue management approach.
- Seasonality can drastically change the vacation rental demand environment. For instance, you can see which periods and locations are attracting the most guests year after year, and track changes.
- Weekends/ weekdays depending on the purpose of the vacation rental. For example, if the target visitor is a businessman, weekdays may be busier, but for a holidayer, weekends often are.
- The economy and foreign exchange rates, political or even tourism advertising events may increase or decrease the number of visitors from outside the given country.
How to use the Demand Report dashboard
The main display showcases the market listing count. Additionally, you’ll see the same metrics, but for your listings. Note that these are accompanied by a set of filters. You can use them to narrow down the selection you want to compare.
Filters & displays
Occupancy OTB – compare year-on-year occupancy on the books during a particular period from 2019 to 2023, plus breakdown current relative demand in different areas
Achieved Occupancy – This allows you to see the final occupancy levels achieved in the past
Achieved number of bookings (YoY) – Similar to the “Achieved occupancy” graph, it also looks forward to include the occupancy on the books
ADR of booked listings – The average daily rates of properties that were booked
Who our BI is for– Revenue Managers
Property managers plus anyone responsible for your portfolio set up and revenue management will specifically benefit from this tool for its valuable metrics which support business decisions based on real-time data.
In brief, monitoring occupancy metrics are a constructive starting point with anyone engaged in managing revenue streams in the vacation rental performance. In fact, our tool is for anyone wishing to understand the context of their short-term rental performance better, and that of their markets.
What is BI and why is it important?
BI structures your own PMS data and contextualises it with market data from our 45M scanned OTA listings. To emphasize, the templates (and bespoke, analyst queries) ask questions of this data lake to answer the main business questions and growth blockers experienced by PMs. That is to say, 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.
HOW Transparent BI works and how you can get started with vacation rental demand data
In sum we connect directly with your PMS via API to retrieve and structure the data into an actionable dashboard. Our own data is pulled from major OTAs (Airbnb, Booking.com, Vrbo & TripAdvisor), large PM sites and enriched with anonymised partner data. Then 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 – which are my underperforming properties? How do I communicate effectively with my owners? 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 what this report offers, 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
- Company Performance – Internally monitor your revenue management & operations performance
- Revenue Management Report – Monitor portfolio performance, identify underperforming properties & check pricing versus competitive sets
- 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