Mark Simpson walks through five key metrics for rental managers: average daily rate, occupancy, length of stay, booking window, and booking composition. Understanding what percentage of your nights come from one-night stays versus month-long bookings tells you what's actually driving your occupancy.
So you have access to the main KPIs like ADR occupancy, like average daily rate occupancy, length of stay, the booking window, and people booking in your market. You can see this by periods, for example in the last year, in the last 30 days, in the last seven days. But you can also see the average per month. You can look at the occupancy as well. One that I really like is length of stay, obviously. So you can see the occupancy and what and the length of stay. What is the weight of each plan to stay in those occupancy? So for example, is my market very strong in bookings of more than 30 days, or is my market strong in bookings of 2 days or 1 day? To understand if the that total occupancy, what is the percentage of nights that come from bookings of two nights or seven nights, etc.
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