Best Available Rate is the lowest, non-restricted rate bookable by all guests. This rate can change several times per day or per week.
The speed at which bookings materialize over a period of time from the booking date to the arrival date. Monitoring booking pace can help identify when patterns form, making it is easier to predict a swell of interest and maximize revenue.
The number of travelers viewing a property online or making an inquiry who decides to actually book it.
Gross Booking Revenue
The total retail value of transactions, recorded at the time of booking. Bookings include the total price due including taxes, fees and other charges, and are generally reduced for cancellations and refunds.
Key Performance Indicators (KPIs)
KPIs are a set of quantifiable measures that a company uses to gauge its performance over time. KPIs can help determine how successful the vacation rental business is. Some numbers to track are occupancy rate, ADR, conversion rate, etc.
The proportion of accommodation which is booked or being used.
The occupancy that the property is expected to achieve for a specified period of time.
The number of booked nights divided by the sum of the available nights and booked nights.
Business performance data presented in an organized and comprehensible format.
Return On Investment (ROI)
A performance measure used to evaluate the efficiency of an investment (or compare the efficiency of a number of different investments). To calculate the ROI of a vacation rental, the benefit (or return) of the property is divided by the cost of the property.
Return On Revenue (ROR)
A performance measure used to evaluate the profitability of the company based on the amount of revenue generated. It compares the amount of net income generated for each dollar of revenue.