Vacation Rental Seasonality
Understanding and adjusting for seasonality for markets and listings is a key component for revenue management strategy.
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We're talking seasonality with Rented’s Sr. Revenue Manager, Mike Fisher.
What is seasonality, how would you do this on your own, and how Art can assist with managing seasonality.
Seasonality is how the demand curve shifts during the calendar year. It's mostly determined by how popular your destination or market is during specific times of the year.
And when it's not as busy seasonality can also be based upon the home type in the same market. So for example, a one bedroom apartment may perform better in the shoulder season compared to a six bedroom home with a pool in summary peaks and valleys of the demand curve in your market. Listings can also determine your seasonality.
In this Four Minute Revenue Manager you will learn:
- How to evaluate and determine seasonality based on market or listing details.
- Why you should make adjustments for seasonality.
- How easy it is to review and manage seasonality using Art!