PriceLabs’ Pacing Reports: The Key to Unlocking Success for Short-Term Rental Businesses in Fluctuating Markets”

Thibault Masson

2 years ago

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If you’re an Airbnb host or short-term rental manager, you know how challenging it can be to navigate the market, especially in uncertain times. But with PriceLabs’ new pacing reports, you no longer have to worry. These reports give property hosts and managers valuable insights and tools to stay ahead of the competition, optimize rates, and maximize revenue.

2023 short-term rental trends underline the need for pacing

In 2023, traditional vacation rental markets are seeing mixed results. Some locations, like Lake Tahoe, are experiencing a decline in winter tourism compared to last year, while others are pacing ahead for this summer.

llustration: Lake Tahoe’s winter tourism has declined compared to 2022 (-9%); however, a slight increase (+6%) is expected on July 14 and 15. On the other hand, Wisconsin Dells’ bookings have remained stable in the winter and spring months and are pacing significantly ahead (+7.5%) of 2022 for this summer.

Illustration: Lake Tahoe's winter tourism has declined compared to 2022 (-9%); however, a slight increase (+6%) is expected on July 14 and 15. On the other hand, Wisconsin Dells' bookings have remained stable in the winter and spring months and are pacing significantly ahead (+7.5%) of 2022 for this summer. — llustration: Lake Tahoe’s winter tourism has declined compared to 2022 (-9%); however, a slight increase (+6%) is expected on July 14 and 15. On the other hand, Wisconsin Dells’ bookings have remained stable in the winter and spring months and are pacing significantly ahead (+7.5%) of 2022 for this summer.

Cities are experiencing a resurgence in demand, but the pace of recovery varies. Nevertheless, most European urban centers surpass their 2022 levels, with Bordeaux being a notable example.

Illustration: Although Bordeaux’s market experiences a decline from January to March (-2.5%), it picks up momentum throughout the year (+3%). It sees a surge on September 9 (+28%), potentially due to a Rugby World Cup match.

Property managers and hosts need reliable comparative data to reduce uncertainty for short-term rental businesses in these fluctuating markets. It’s where PriceLabs’ pacing tools come into play. With these new pacing data and graphs, hosts and managers can measure their success against the local market and track changes in key performance metrics compared to their previous performance.

Pacing is a powerful strategy that helps individual hosts and hospitality professionals maximize revenue and make informed decisions. With PriceLabs’ industry-leading data science team compiling and analyzing market data from sources such as Airbnb and Vrbo, hosts and managers can easily identify whether their listings or local competitors are slowing down or accelerating compared to last year.

Illustration: PriceLabs has introduced a new Pacing report in its Portfolio Analytics product.

PriceLabs offers pacing reports within its Market Dashboards, Portfolio Analytics, and Neighborhood Data tools – all at no added cost for current users. And for those who aren’t current users, the Portfolio Analytics product is free forever. So it’s an excellent opportunity to see how pacing can benefit your business.

Illustration: Neighborhood Data users can compare their occupancy rates to the previous year’s. They can also incorporate a pickup curve to determine how much of their current occupancy is attributed to recent bookings.

So if you want to take your Airbnb hosting or short-term rental managing game to the next level in 2023 – or any year – try out PriceLabs’ pacing reports today. With up-to-date analysis on local markets and comparative insight into your performance versus last year included in each of PriceLabs’ dynamic pricing and market report products at no extra cost to current users, there’s no reason not to give them a shot.