Worldwide: ShortTermRentalz spoke to short-term rental data provider Transparent about the revenue management course it just released.
“With nearly 300 million users expected in 2019and Airbnb’s stock alone exceeds that of the top five hotel chains, the vacation rental industry is booming and there’s a lot of money to be made.
“There are many success factors in short-term rentals, but a very important and long-neglected area is revenue management. Which channels are most effective? How do events and seasonality affect the market rate? What are the main occupancy drivers How does the ADR (Average Daily Rate) change with booking lead time How do you anticipate demand and track your performance to forecast What is the ideal minimum stay for a given period?These are ownership, market and industry driven questions that, when answered with data, pave the way for an informed revenue management strategy and lay the foundation for maximizing revenues.
“These are questions the hospitality industry has spent millions answering and Marriott’s initial adoption of revenue management practices would have increased its annual revenue by more than $150 million. It’s clear to see what our industry has to gain, but we must learn to apply these principles to vacation rentals.
“Currently however, through its growth and large number of variables, our industry still has a lot to learn.
“As such, Transparent has created the first online revenue management course focused specifically on managing short-term rentals, with the aim of developing the knowledge and skills needed within our industry.
“The course is 100% online and self-directed, and across four modules of video and written content, quizzes and further reading, the course covers how to improve your revenue management, distribution, marketing and sales optimization practices. occupancy and pricing, working with leading industry partners. The easiest way to grow your business is to improve your stock performance, and this course aims to help you get the most out of your inventory.
“The course is priced at €249, but Transparent is offering free access to the first 50 registrations via this exclusive link here.
“Transparency allows industry players to make data-informed choices and grow. His Dashboards empower property managers with invaluable market insights. Access to granular analysis of extensive industry data will ensure that all elements of your revenue strategy and performance are optimized and your rates are aligned with the market.”
For more information, visit the Transparent site here.