Are you tired of having to compile tedious reports and running out of time to keep track? Are you ready to update your tech stack? Discover how modern technology is replacing the guesswork in the vacation rental business with business intelligence tools that can help you scale your business in 2022.
Technology is fast becoming the stealth of the vacation rental industry and over the years, it has evolved into phenomenal heights, especially with specialized software sweeping into the market with innovative property management systems which have revolutionized the vacation rental industry completely. Today, vacation rentals are able to automate almost all aspects of their operations, marketing, and distributions.
Thanks to the advancements in vacation rental technology, property managers and hosts alike have been able to take their businesses to heights that were previously unimaginable. It is to be expected that property managers will have access to more advanced technologies in 2022. Where there will be a high level of connectivity and integration between various sophisticated software systems, enabling property managers to automate the entire process.
The Hostaway Marketplace is the largest integrated marketplace for vacation rental tools and software. Hostaway is integrated with more than 200 apps, all designed to help vacation rental managers and hosts automate, scale, and grow their businesses.
Hostaway’s marketplace is a curation of the best vacation rental software and tools within the industry. Each tool is connected via API into Hostaway’s property management or channel management systems and meets our high bar for integration quality and reliability.
You can reduce costs by increasing the level of automation in your business by finding the right vacation rental technologies. Here are some of the key benefits you stand to gain by integrating business intelligence tools into your business.
The following are the top tools that Hostaway recommends to property managers to increase profits and scale quickly.
The Key Data Dashboard offers business insight and benchmarking solutions for the vacation rental industry. It is a business intelligence (BI) tool that provides clear, easy-to-understand visibility into all the core metrics that drive your business, displayed side by side with similar performance data from your local and regional competitors.
Key Data Dashboard replaces hours of spreadsheet compilation with a smooth interaction with property management systems and gives property managers accurate, trustworthy data that is anonymized, discreet, and trusted. Visualize and filter all of your main vacation rental KPIs such as occupancy, ADR, RevPAR, and 20+ others in real-time to manage your income and better understand your company's success, as well as compare your performance to your local and regional competition data sets.
Monitor your top KPIs so you can keep an eye on what matters most to you and your business.
Full pacing charts to examine future performance as of today vs. last year’s performance as of the same date.
Benchmarking charts to see how your metrics compare to other companies in your market and region.
Geo-targeted heat mapping to see where guests are coming from, and which markets are growing the fastest.
In-depth analytics looking back as well as forward at your company’s core metrics.
Estimated rental potential for a property, computed using accurate, direct-sourced vacation rental data.
Monitor your entire organization’s financial health in real-time even right down to the individual property level.
Real-time, flexible supply data from Airbnb & VRBO to give your organization deeper insights into the lodging supply in your market.
DemandIQ is the lodging industry’s first product for capturing true, real-time, forward-looking traveler search demand data.
In a nutshell, Key Data Dashboard aggregates historical and forward-looking data in real-time providing the leading performance analytics & comparative data dashboards for property managers and hosts.
If this BI tool interests you, you can now request a demo by visiting their page Request a >>>> demo
Click here >>>> to connect to key-data-dashboard if you're already connected to Hostaway PMS and channel manager.
AllTheRooms Analytics is a robust market leader and provider in vacation rental data and analytics for vacation rentals. The insights provide help to vacation rental owners, investors, and property managers within the vacation rental markets. AllTheRooms is in the unique position of providing the most comprehensive insights into the vacation rental presence in any market.
With this metric, you could understand the current state of the vacation rental market in any given region. Their unique Market Share Analysis employs a machine learning algorithm that considers a multi-factor model, including property descriptions, geocodes, and image matching technology, to provide accuracy rates of 95.5%.
Use this metric to fully grasp market share and a true indication of the market size of vacation rentals in any given destination. Compare the competitive landscape of the vacation rental market among different geographical regions within or outside the larger market.
The Competitive Analysis offers a snapshot of how the private rental market is performing in a surrounding or competitive neighborhood, area or region. The breakdown provides occupancy rates, ADR, RevPAR, supply, demand, and gross revenue figures for each neighborhood or region.
Track the vacation rental market going back twelve months with a year-over-year overlay
Gain information on every vacation rental property in your destination including property type, price, and more. Detailed property reports provide in-depth access to active and de-active properties to parse through the market on a granular level.
Information on each property includes the property name, address, neighborhood, property type, lat/long codes, min/max price, URL to the property listing, number of bedrooms, guest capacity, average rating, review information, and more.
This metric forecasts the vacation rental market performance with monthly projections in any country, state, or neighborhood. This Projected Bookings report can provide a six-month forecast on how the vacation rental market will perform month-by-month. Reports breakdown the occupancy rates, ADRs, RevPAR, supply, demand, and gross revenue figures for each month going forward.
Assess the impact a specific event has on the vacation rental market and how current trends affect revenues. The Event-Analysis report assesses the impact a specific event has on the vacation rental market and how current trends are taking revenue away from the traditional accommodations market during these key events. These reports break down daily performance before, during, and after an event and include a Year over Year performance overlay.
In short with AllTheRoom you could analyze any vacation rental market in the world using AllTheRooms Analytics, the world’s most complete and comprehensive vacation rental analytics platform.
Click here >>>> to connect to AllTheRooms if you're already connected to Hostaway PMS and channel manager.
A premier provider of vacation rental data, AirDNA turns industry-savvy, vacation rental data into strategic, actionable analytics. As one of the world's most robust providers of vacation rental data and analytics, AirDNA is able to track the daily performance of over 10 million listings in 80,000 markets globally on Airbnb, Homeaway, and many more OTA’s.
You can use AirDNA's analytics platform to make smarter decisions about your properties with unmatched global data and insights. Access valuable performance metrics to understand exactly how the vacation rental industry is evolving and see forecasts for where it’s headed. With the help of interactive charts and maps, you can explore the analytics of specific neighborhoods and individual properties in over 120,000 markets worldwide.
Gain valuable insights on the performance of your market and understand exactly how the vacation rental industry is evolving. Enter any address, anywhere in the world, and get accurate projections for how it would perform as a full-time vacation rental. Compare entire markets side by side, and see how much top-performing properties are making in any destination.
Optimize and automate your vacation rental pricing strategy with Smart Rates, MarketMinder’s built-in dynamic pricing tool. The built-in dynamic pricing tool — gives hosts a competitive edge with personalized pricing suggestions that maximize listings' revenue and occupancy.
See the investment potential of any address in the world. Compare the best cities side by side, and see top-performing properties. Enter any address, anywhere in the world, and get accurate projections for how it would perform as a full-time vacation rental. Compare entire markets side-by-side, and see how much top-performing properties are making in any destination.
Connect your listings and create a hand-picked comp set to benchmark your performance against your closest competition. Connect your listings to see your property's Booking Performance Score — one simple metric to track the booking health of your vacation rental.
Plan your strategy according to how booking activity in your market is pacing compared to previous years’ trends.
This AirDNA BI equips you with groundbreaking 25+ Must-Have KPIs for your vacation rental property. Get market data on occupancy, revenue, seasonality, booking lead times, cancellation policies, and a host of other offerings. AirDNA is one of the most trusted names in vacation rental data and analytics.
If this BI tool interests you, you can now request a quote by visiting their page Request >>>> customer support
Transparent is a globally renowned market leader in providing data intelligence for the vacation rental industry. Property managers, investors, and hotels can make smarter revenue, distribution, and investment decisions with this software.
Transparent builds and maintains a platform that aggregates data on vacation rental market conditions including prices, occupancy, and competition. Using data from Airbnb, Vrbo, Tripadvisor, and Booking.com. They offers extremely versatile insights into market trends. You can track your competitors, watch booking patterns around high-demand dates, and dive into pricing trends.
Instant rate-shopping with listing-specific, daily market, and competitor rates for the next year. Adapt to granular demand and pacing data to never leave money on the table and seize bookings ahead of the competition. Refine guest payout with length of stay discount and cleaning and service fee breakdown in your market.
Compare your pricing with market rates and specific competitor rates over the next year using the calendar view. The daily insight allows users to align rates with the market and demand. Understand how pricing fluctuates with seasonality, plus view events affecting demand in your market.
Understanding daily occupancy can inform your rates and allow you to capture bookings ahead of your competition. You can improve listings by analyzing top-performing listings as well as refine your operations and strategies based on review aggregation and analysis.
You have the oppurtunity to align with competitor strategy through insights such as minimum stay, fee, and discount breakdown across different property types and platforms to better attract potential guests as well as compare your inventory performance with your competitors’ performance over time with occupancy charts.
Identify the relative strengths of the main OTAs in your market. Prioritize your distribution through monitoring demand & occupancy across Airbnb, Vrbo & Booking.com. Understand pricing, both historical and over the next year, on the main OTAs to ensure rates are tailored to each demographic.
Filter to assess market supply by location, type, bedrooms, or amenity to prospect, invest and renovate effectively. Source new prospects. prepare new property target reports with projected rate, revenue, or occupancy for clients. Identify supply trends ahead of the competition. Track competitor inventory and map your own. Price new properties optimally and proactively.
In short, you can gain access to an oasis of in-depth analysis tabs for supply, rates & fees, demand, occupancy, pacing & reviews across 4 OTAs. With granular filters and downloadable data, this BI tool equips you with a cornucopia of listing level, historical and forward-looking, actionable insights.
If this BI tool interests you, you can now request a quote by visiting their page Request a >>>> Demo
Click here >>>> to connect to Transparent if you're already connected to Hostaway PMS and channel manager.
Say goodbye to age-old guesswork and misguided research and step into the new age of technology-based insights for your business. To make sound business decisions, accurate data is essential in the current climate of demand volatility in the travel industry. In addition to providing you with valuable insights into the vacation rental market, implementing a property management system, along with an ideal business intelligence tool, enables you to scale your business, keeping you ahead of the competition.
“All-In-One And One-For-All” - Our slogan says it all. Our property management system comes with an integrated channel manager, giving you the best of both worlds. We support growing property managers by offering them an open API upon which to build additional tools with a multitude of features you need to improve your business, all in one platform.
Want to know more? Get in touch today, schedule a demo call at your preferred time with one of our product experts to receive actionable advice and discover how Hostaway can fit your property management business!