2015 saw significant changes in vacation and short term rental landscape starting from new service companies, more properties to Expedia acquiring Homeaway. In these changing times, it is important owners and property manager to stay abreast with their neighborhoods to stay competitive.
We are excited to introduce just that solution for individuals and property managers: Market Intelligence Reports - the best rate shopper in the industry. Now your neighborhood data available on demand!
How it works: Enter your location, and specify your neighborhood (enter radius from your location) and let us generate the report for you!
Market Intelligence Reports has 3 main components (see a sample report)
- Airbnb report
- Homeaway report
- Hotel report
... and 3 main capabilities
- Review competition: Understand how many properties are on Airbnb and Homeaway in your neighborhood.
- Past trends: Understand how much money properties in your neighboorhood made and what were the major dates in the last 3 months (only available for Airbnb currently)
- Future trends: Take action! Review occupancy trends to analyze key dates when you need to adjust prices to make money or just stay that extra bit competitive!
Let's take a deeper look into the Airbnb report.
Example competitive landscape: While the median price/night of a property is $119, most 3-bedroom properties above $200.
Say you wanted to focus only on 3-bedroom places - you could use to filters provided in the report to zero in on those. In the chart below, it looks like 3-bedroom properties that were priced in the $120-$150 range book almost twice as frequently as those in the $200+ range. Does this mean your 3-bedroom property should have a base price in the lower end of this spectrum? Not necessarily - they're both making about the same amount of money! You can learn from your property's performane against the competition here to determine what price point you want to be on.
Example past trends: July 4th weekend was extremely busy but so was the weekend before! Also, weekends in your neighborhood book 14% more than weekdays!
Example future trends: If I were you, I would increase prices around Sep 6th, and also Oct 10th. Wonder what's going on.
In addition, the HomeAway report covers the competitive landscape and future trends that complement the Airbnb report, while the hotel report provides future hotel prices to understand what the hotel industry's outlook looks like (hey, they're competitors too!). We'd love for you to explore these in our sample report.
..and there is more! Intrigued? Sign up and try it out!
If you have a question, story or feedback for us, send a mail to email@example.com. We love hearing from you.