In the short-term rental space, Revenue is derived mostly from bookings.
So, it’s really important to get the right bookings. It’s also really important to understand how many you have on the books, and how you’re shaping them.
Why is when a Booking occurred (Pacing) important?
Many operators think about Pacing in terms of how much they should sell a listing for this week. But! You also need to know when those guests are going to be staying to decide if you want to increase rates, cut rates, adjust your overall strategy, etc. and make changes on the Pricing Calendar accordingly.
Why we created the Bookings page.
There’s a ton of data in the STR space, but we believe our Bookings Tab is one of the first business intelligence tools to aggregate data for a Revenue Manager’s specific needs.
With this fun new tool, we aim to save you tons of time, bring new insights to light, and provide Revenue Managers, Property Managers, and Operators alike with an easy way to:
- Understand your Pacing, how much revenue is on the books, and where it's coming from
- Gain a deeper understanding of how your bookings compare with detailed Booking Score Insights
- Quickly gauge where you’d like to intervene on rates
- Communicate the value of the service you provide to your owners/partners