What is Airbnb Analytics?
It’s not as complicated as it may sound. Airbnb analytics is basically the analysis and interpretation of Airbnb rental data. It encompasses all the important figures, ratios, and percentages you need to get higher returns from Airbnb investments. But these aren’t just numbers, they’re much more. If you’re an Airbnb host/investor, you’re definitely going to want to take advantage of this amazing technology. Airbnb Analytics is a set of tools that we use to calculate your Airbnb business profitability. Our Airbnb Analytics tools uses real estate analytics as well as real estate comps in order to determine future market trends for short-term rentals in your area.
Airbnb investors also use it to determine the most profitable locations for Airbnb rentals, local market, competition, pricing, seasonality, etc.
Airbnb Analytics gives you Bird's-eye view of the Airbnb real estate metrics in your area. These metrics are the soul of every Airbnb business investment. Our method to estimate vacation rental profit is based on a pricing tool using large numbers of pricing points for short-term rentals as well as seasonality, weather trends and special events.
Here are the most important metrics that you should pay attention to:
Gain valuable competitive insights on Airbnb rental properties. We utilyze interactive maps to explore the performance of specific neighborhoods and individual vacation rental properties by type,size,etc.
Airbnb Trend – High and Low seasons:
This is a very important indicator. This indicates the occupancy trend ratio based on seasonality. For example, you your property have a low occupancy rate on a high season trend, you’ll have the necessary tools to identify the root x cause of a potential problem. This analysis will also help you to establish the best pricing possible in your area, optimizing your bookings and therefore, your earnings.
Price surge events
Be UpToDate with special events and holidays in your area to maximize your earnings.
As an Airbnb host, you’ll notice that there are sharp jumps in demand throughout the year–these are typically special events like big conventions happening in town that push demand up for a short period of time.
The price surge due to a holiday most likely affect your city in the same way, special events will most likely affect the units within a certain radius since attendees will generally want to be as close to the events as possible.
During some events, hosts were able to charge 2-3x their regular rates! But just knowing when an event will be in your area is not enough for you to determine HOW MUCH you should adjust your Airbnb pricing.
Airbnb analytics basically act as a map, pointing you towards the right decisions and away from the wrong ones. Whether it’s location, investment strategy, or property performance, Airbnb analytics will always provide a clear action plan. Knowing what to expect in regards to occupancy rates and vacancy rates, for example, keep Airbnb investors one step ahead. Risk can be managed and mitigated according to a market or property’s occupancy rates.