Vacation Rental Glossary
Inquiry to Booking Conversion Rate
It is calculated by multiplying the number of inquiries received into the total number of bookings for the property.
Average Length of Stay
It is used to calculate the number of nights the average guest has booked in the property. It is calculated by dividing the total number of nights the vacation rental is booked by the total number of reservations. This is a vital metric to track because an increase in short-term stays can increase maintenance and operation costs in your vacation rental property. Read More
Average Booking Window
It is calculated as the average number of days between the day of reservation and check-in.
The rate at which bookings are made in a vacation rental during a set time period.
A tool that visually represents the number of reservations booked over a certain period of time. You can use this tool to analyze your booking trends such as, when people are booking reservations in your property.
Depth of inventory
It is the number of similar vacation rentals that are available in the specified area.
Preparation Time Before Arrival (PTBA)
It is the minimum number of days required to prepare the vacation rentals for the booking.
This tracks the number of home improvements which impact the property’s visual appeal. Home improvements can be anything from a simple painting being hung in your lobby to a complete makeover of your property.
Specific days of the week that vacation rental managers dedicate for bookings to begin and end. It essentially is the check-in and check-out date.
It is the occupancy that a vacation rental is expected to book within a specific period of time.
These are specific dates where vacation rental managers do not accept any reservations. This can be because the vacation rental is booked for personal reasons or even maintenance.
It is the point when the monthly rental income is enough to pay all operating expenses.
OTA ranking is the method to rank vacation rental properties based on the quality and completeness of their visual and textual content. It is influenced by: photos and text descriptions, reviews, commission, conversion, quality of content.