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Airbnb Channel Manager

Pippa Ellison
In Airbnb Channel Manager, Guest Experience, Property Management Tips

Airbnb metrics every Airbnb host should keep track of

airbnb kpis

Have you seen that you can now monitor the property score and view Airbnb metrics on the Airbnb connection in our Channel Manager? You can now access the Overall Rating for the company and the property metrics from your property management software.

Whether you are an experienced Airbnb host or new to Airbnb, comprehending the fundamental Airbnb metrics is crucial for establishing and maintaining a thriving business. 

Unsure of where to begin? In our blog, you will find the perfect guide to the vital metrics and Airbnb metrics you need to keep an eye on to ensure you are making progress toward your short and long-term business goals.

What are Airbnb metrics and why are they important?

Airbnb metrics are measurable values that reflect a business’s success in achieving its core objectives. In the context of Airbnb, metrics are crucial for property performance management and progress of your property listings. 

By monitoring these KPIs, you can gain valuable insights to identify trends, assess your progress, and make informed decisions to improve your vacation rental business. Whether you’re a seasoned host on Airbnb or just starting, understanding and tracking these Airbnb metrics is essential for optimizing your business and achieving your goals.

Why tracking Airbnb metrics is crucial for your business?

As an Airbnb host, monitoring the performance of your property is just as important as attracting new guests. Tracking accurate data through Airbnb success metrics provides quantitative evidence that helps you gain a realistic view of your business’s health and growth potential. 

Tracking Airbnb metrics allows you to make strategic decisions based on facts rather than gut feelings. These indicators enable you to identify areas that require improvement, optimize your processes and operations, and maintain business efficiency and growth.

In addition, utilizing vacation rental software such as Hospitable can further enhance your Airbnb business’s efficiency. With Hospitable’s automation capabilities, you can streamline daily hosting tasks, improving Airbnb metrics across the board. 

You can maximize your business’s potential and achieve your short-term and long-term goals by keeping track of your Airbnb success metrics and using tools like Hospitable. 

Essential Airbnb metrics for short-term rental hosts and property managers

To succeed as an Airbnb host or property manager, it’s crucial to monitor key metrics that can indicate the health and performance of your business. Understanding and tracking Airbnb metrics can help you make data-driven decisions and stay ahead of the competition. 

Here are some of the essential Airbnb metrics you should measure to ensure the success of your short-term rental business:

Occupancy rate:

This metric indicates how often your rental property is occupied and can help you determine the optimal pricing strategy and promotional activities to improve your rental income.

Average daily rate (ADR):

This metric measures your rental property’s average price per night and helps you understand your revenue potential. It helps hosts understand how much guests are willing to pay for their short-term rental property during a specific period. By tracking ADR, hosts can determine their earnings potential and identify seasonal trends in their business.

To calculate ADR: divide the total revenue earned from bookings for a specific property by the total number of nights booked. If the ADR is low, it may indicate that prices need to be adjusted. Hosts can consider upselling or cross-selling additional services to increase their ADR and boost revenue.

Revenue per available room (RevPAR):

This metric provides a more comprehensive picture of your property’s financial performance by factoring in occupancy rate and ADR. It’s one of the most commonly used metrics in the hospitality industry, as it considers both the occupancy rate and the average daily rate. To calculate RevPAR, multiply your average daily rate by your occupancy rate.

By tracking your RevPAR, you can compare your property’s performance to your competitors and assess your own performance across different rental properties. By analyzing this metric, you can make strategic pricing decisions that help maximize your revenue while maintaining optimal occupancy rates.

Guest satisfaction score (GSS):

This metric measures your guests’ satisfaction with their stay and can impact your overall rating and future bookings. It can be determined by conducting post-stay surveys, gathering guest feedback, and analyzing guest reviews. This score can provide valuable insights into the areas where a rental property is excelling or struggling, helping hosts identify opportunities to improve the guest experience. The GSS can also impact a host’s overall rating on Airbnb and other platforms, as well as future bookings and revenue.

Response rate and time:

These Airbnb metrics track how quickly and frequently you respond to guest inquiries and can affect your overall guest experience and rating. Both metrics are essential for maintaining good communication and providing a positive guest experience. A high response rate and fast response time can lead to better reviews and increased bookings.

By monitoring and optimizing these key Airbnb metrics, you can improve your guests’ experience, increase your revenue, and grow your business over time.

You can efficiently track your hosting performance using Airbnb’s professional hosting tools if you manage multiple Airbnb listings. One of these tools is Insights, which provides a range of Airbnb metrics to help you monitor your progress as a host.

Ways Airbnb metrics can impact your business and revenue.

Ratings and Reviews:

The ratings and reviews left by guests are one of the most critical quality Airbnb metrics. Hosts with high ratings and positive reviews are more likely to attract new guests and receive more bookings. Conversely, hosts with low ratings and negative reviews may struggle to attract new guests and may even see a decrease in bookings.

Response Time:

Another important quality Airbnb metric is response time. Hosts who respond quickly to guest inquiries are more likely to receive bookings, as guests prefer responsive and attentive hosts. Airbnb also prioritizes hosts with fast response times, which can increase visibility and lead to more bookings.

Accuracy of Listings:

Accurate listings are essential for providing a high-quality experience to guests. Hosts who provide detailed and accurate information about their properties are more likely to receive positive reviews and repeat bookings. On the other hand, if a listing is inaccurate or misleading, guests may have a negative experience and leave negative reviews, which can harm your business.

Cleanliness:

Cleanliness is a critical Airbnb metric. Guests expect a clean and well-maintained space, and hosts who prioritize cleanliness are more likely to receive positive reviews and repeat bookings. Conversely, hosts who neglect cleanliness may receive negative reviews, leading to a decline in bookings.

In summary, quality Airbnb metrics such as ratings and reviews, response time, accuracy of listings, and cleanliness can significantly impact your business and revenue on Airbnb. By prioritizing these metrics and providing a high-quality experience to guests, you can attract more bookings, increase revenue, and build a successful Airbnb business.

Are you trying to improve your website’s KPIs too? Our website design team provides various levels of packages, ideal for any property manager looking to get their website in front of their potential guests.

Polly Shelton
In Airbnb Channel Manager, Booking.com Connectivity Partners, Vacation Rental News

The Best Vacation Rental Channel Manager Software 2023: How Avantio is staying on top

The Best Vacation Rental Channel Manager Software 2023 How Avantio is staying on top

Are you looking for a pioneering channel manager software provider that stays ahead of the game?

Look no further than Avantio! We are thrilled to announce that we have been recognized and awarded partner status from the top online travel agencies (OTAs). 

  • Vrbo’s Elite Connectivity Partner 2023
  • Airbnb’s Preferred Software Partner 2023
  • Booking.com’s Premier Connectivity Partner 2023

Join us as we highlight the key features that make Avantio the preferred choice of some of the world’s leading online travel agencies. We will discuss what sets us apart from our competitors and why we are a top channel management system provider. Keep reading to discover why Avantio should be your go-to choice when choosing a channel management system provider

Why use a channel management system?

If you’re a property manager looking to simplify and advance your online distribution, a channel management system is an essential tool. But what exactly is a channel management system, and why should you use one? Let’s take a closer look.

There are several benefits to using this type of platform, including the following:

  • Simplified distribution: With a channel management software, you can distribute your properties and rates to multiple channels with just a few clicks. This eliminates the need for manual updates and reduces the risk of errors or discrepancies in your listings.
  • Increased visibility: By distributing your properties to multiple channels, you can improve your visibility and reach a wider audience. This can help you attract more bookings and increase your revenue.
  • Real-time updates: With a channel management system, you can make real-time updates to your listings across all of your channels. This means that you can quickly respond to changes in availability, pricing, or other factors that may impact your bookings.
  • Time savings: Using a centralized platform to manage your distribution can save you time and streamline your workflow. This allows you to focus on other aspects of your business, such as guest communication, property management, and marketing.

A channel management softrware is a software tool designed to help property managers distribute and manage their properties and rates to multiple OTAs. This centralized platform offers real-time management of your properties across your preferred channels.

What is a Preferred Partner?

Online travel agencies (OTAs) strive to provide users with a positive booking experience. To achieve this, they team up with property management software suppliers, who can offer their hosts a comprehensive range of services. In order to be awarded a Preferred Partner status by OTAs, software providers must demonstrate solid and consistent connections. As well as quality and varied features that can cater to the unique needs of different properties.

Here are three ways through which channel manager software providers meet these high standards:

  • Direct Connections via API 

Direct connections via API (Application Programming Interface) are preferred for OTAs to retrieve and display accurate availability and rates from channel manager software providers. The API connection eliminates the need for manual entry and guarantees rates and availability are up to date across all channels. As a result, OTAs can confidently offer properties with accurate pricing and availability, while property managers save time by managing all channels from a single interface.

  • Exceeding Performance Benchmarks 

OTAs set specific performance benchmarks that channel manager software providers must meet in order to maintain their Preferred Partner status. The benchmarks may include response time, booking acceptance rate, and booking accuracy rate. By exceeding these benchmarks, channel manager software providers can prove their reliability and efficiency to OTAs, leading to more bookings and revenue.

  • Integrated Connectivity Features 

Quality and varied features are vital to standing out in the competitive vacation rental software market. Channel manager software providers offer advanced connectivity features beyond basic rate and availability distribution. Features like automatic translations, property content management, and automated guest communication can improve the booking experience and increase conversion rates.

What sets Avantio’s channel management system apart?

Avantio’s channel management system is packed with features that set it apart from the competition. Here are just a few of the unique capabilities that make our system a must-have for any property manager:

  • Unified Inbox: Say goodbye to juggling multiple communication channels. Communicate with guests, service providers, and owners all in one place. This feature simplifies communication and collaboration, making it easier to keep everyone on the same page.
  • Price Consistency Connection: Nothing is more frustrating for guests than seeing one price when they start their booking process, only to be hit with a higher price at the end. Our Price Consistency Connection with Vrbo guarantees that guests won’t be surprised by the final price and prevents abandoned bookings. Improving the guest experience and increasing bookings and revenue for your business.
  • Stay Ahead of the Curve: At Avantio, we know that the travel industry is constantly evolving. We’re always looking for ways to stay ahead of changing traveler trends and market conditions. An example of this is we have recently increased the minimum stay requirement for Booking.com from 30 to 90 nights. This change reflects the growing movement among travelers to seek out longer-term stays.

We’re committed to providing our clients the tools they need to succeed in today’s competitive market. Our channel management system is just one example of how we’re working to help property managers achieve and exceed their business goals.

By choosing Avantio as your property management software provider, you can gain access to these powerful tools and more. Helping you to simplify your operations, improve guest experience, and drive revenue growth.

How does Avantio’s Preferred Partner status affect property managers?

Using channel manager software with preferred partner status, like Avantio, can be a game changer for your business. Here’s why:

Say goodbye to manual updates! Avantio’s channel manager has direct connectivity with each OTA’s system, making it easy for you to manage your property’s availability, rates, and reservations all in one place. No more switching back and forth between different platforms!

We understand how important it is to have reliable technology. Our channel manager delivers a monitored connection, ensuring your listings and data are synced accurately and in real-time. You can trust that your information is up-to-date and reduce the risk of errors, saving you time and hassle.

We believe in teamwork! We work closely with our OTA’s, providing you with increased collaboration and access to the latest features and functionalities. This way, you can keep up with industry trends and offer your guests the best possible experience.

We’re always looking for ways to improve. Avantio is committed to continuously enhancing its connection so you always have access to the latest and most relevant data. Our software even includes new fields that map between systems, making managing your property information easier.

Make sure your channel manager software is working for you

In conclusion, a channel management system can be a game-changer for your vacation rental property management business. Avantio’s channel manager software helps you to streamline your operations, increase efficiency and provide guests with the best experience…

Want to know more about Avantio’s channel manager? Book a demo with us today.

Avantio News March 2023

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In Airbnb Channel Manager

What Are the Benefits of Becoming an Airbnb Superhost?

If you’re one of the 150 million people who use Airbnb, chances are you’ll have come across the Superhost medal, sitting proudly yet discreetly next to some host profiles. The message is clear – these hosts are offering something beyond what you’d expect from a standard host.

But what does it represent? And should you be striving for Superhost status yourself?

Join us as we break down the ins and outs of Airbnb Superhost status.

 

 

Airbnb Host Requirements

What does it take to sign up to rent out your accommodation to guests via Airbnb? First, let’s explore the standard requirements to become an airbnb host.

 

Basic Requirements

The basic Airbnb host requirements are simple and straightforward. The platform owes at least some of its global success to the simplicity of signing up and renting out accommodation.

Firstly, Airbnb’s terms of service state that you must be over 18 to create an Airbnb account, therefore to start hosting, you have to meet this minimum age limit.

Secondly, Airbnb hosts must adhere to local laws and regulations. This can cover topics such as local taxes or zoning rules, so it’s important to research this before signing up. It may also be necessary to obtain permits or licenses before you can start renting out your space.

Finally, the accommodation you offer – whether a yurt or a luxury suite – must be both safe and comfortable. As a host, it’s your responsibility to ensure that your rentals always meet these requirements.

 

Airbnb Community Policy

Airbnb’s community policy states that hosts are asked to meet the requirements of their community policy. Failure to meet these requirements can lead to penalties or suspension from the platform.

 

  • Responsivity – Airbnb asks that hosts maintain a 24-hour response rate for new reservation requests and inquiries
  • Request acceptance – Guests are encouraged to accept booking requests wherever possible
  • Cancellation avoidance – reservation cancellations should be avoided at all costs and can result in a host penalty
  • Consistent quality – hosts should maintain high guest ratings
  • Essential amenities – hosts are strongly encouraged to provide basic amenities to guests, which include toilet paper, soap, towels, and bed linen.

These metrics are measured against the average for all Airbnb hosts, so if your hosting service is considered to be sub-par, you may be subject to penalization.

 

 

What is an Airbnb Superhost?

Airbnb first launched Superhost status in 2016, as a means of sorting professional, premium experiences from novice hosts. Superhosts were born from the necessity to have a quantifiable metric for excellence, taking into account the guest experience at all the accommodations in a host’s portfolio, rather than the features of individual properties.

Airbnb loosely defines Superhosts as those who go ‘above and beyond’ in their hosting. Essentially, hosts who do the absolute most to give guests an outstanding experience from their first inquiry until after check-out.

Any host can qualify for Superhost status, whether you’re renting out the most basic single room or a sprawling mansion – if you go above and beyond for your guests then you may be in line for recognition.

Guests can identify Superhosts when browsing the Airbnb website from the small ‘medal’ icons that appear on their profile and listings. They can also filter their searches to show only properties from Superhosts.

 

 

Airbnb Superhost Requirements

There is no Airbnb Superhost application process. Rather, Airbnb evaluates all hosts quarterly to determine whether they have met the stringent criteria. Evaluations are carried out on the first of January, April, July, and October, and take about a week. If you’ve met the mark, you’ll receive a notification at the end of the evaluation period.

The first assessment criteria is to have maintained a 90% or above response rate. This means replying to over 90% of all new inquiries and reservation requests within the 24 window.

Secondly, you must maintain a maximum 1% cancellation rate. This means that you can only cancel one in every 100 reservations you receive, unless extenuating circumstances apply.

When it comes to guest reviews, Airbnb Superhosts maintain an overall rating of 4.8 or above. This average is taken over the last 365 days and is based on the review date rather than guest checkout date.

Finally, Airbnb Superhosts who offer longer reservations must have completed a minimum of three reservations in the previous 365 days, with a total of at least 100 nights. Those offering short-term rentals must have hosted at least ten stays in the past year.

 

Airbnb Superhost Benefits

 

 

Visibility

With over 4 million hosts currently registered with Airbnb, there’s certainly plenty of healthy competition on the top global OTA. While there are several ways to give your vacation rental property listings and descriptions the edge, if your profile boasts the Airbnb seal of approval, this immediately makes your property stand out.

 

 

 

Revenue

As mentioned, guests can filter their search results to only show Superhosts, as travelers seek peace of mind that they’re guaranteed a high-quality experience. Sporting the Airbnb medal of honor builds guest trust, which in turn means more bookings and increased revenue.

The financial benefits of being an Airbnb Superhost have also been statistically noted. Across the globe, Superhosts earn 60% more revenue per available day (RevPAR)

 

 

 

Rewards

On top of increasing your property revenue, after each full year as a Superhost, you’ll be rewarded with a $100 Airbnb coupon, enabling you to take a well-deserved break (and check out the competition). Further, when you refer a new Airbnb host, you’ll receive an extra 20% on top of the usual referral bonus.

 

 

Take your Vacation Rentals to Superhost level

As a result of more than 20 years listening to clients about the tasks and challenges associated with managing vacation rental properties, we’ve assembled a complete toolkit of software and services to take your business to the next level. We truly understand the importance of the guest experience, and how to support you to focus time and resources on the areas that matter most.

With your hands free to make your vacation rental business more guest-centric, you’ll be well on your way to achieving that much-coveted Superhost status. To find out more about how Avantio’s tools can help you to streamline your processes, save resources, and start focusing on guest satisfaction – contact us for a free demo.

 

webmaster
In Airbnb Channel Manager

Optimize to the maximum with different types of Airbnb pricing strategies.

Optimize your revenue with basic and seasonal discounts.

Airbnb pricing strategies can vary depending on the type of listing that you are managing. A pricing strategy that’s effective for one host, will be less effective for another. Here are some basic strategies and reasons why they suit particular Airbnb properties:

Maximum nightly rate strategy

This strategy is ideal for a host who owns an Airbnb that is in a prime location and is of a very high standard in terms of interior design and furnishings. If you have a supreme apartment in an ideal location, you can charge the maximum rate per night as well as high fees. This will allow you to make a better profit from each individual booking.

Dynamic nightly rate strategy

You have to be prepared to be completely engaged with the Airbnb rental market for this strategy to work. This option involves you constantly changing your nightly rate so that it’s always more competitive than similar rentals in your area in order to get as many bookings as possible. It requires you to constantly monitor your competition and adjust your pricing accordingly. This is probably the hardest work of all the strategies but it can reap the biggest rewards when it comes to your bank balance.

Long-term strategy

If you’re a host who is planning on being away from your apartment for a considerable block of time, say 3-6 months, you could price it so that it attracts a more long-term renter. Obviously, you will earn less per night but you’ll have a regular, guaranteed income from the one continuous tenant.

 

What types of discounts can I synchronize with Airbnb?

Longer stays discounts: If you haven’t made your space available for longer stays, now is a great time to consider changing your settings.

New Listing Promotion: A 20% promotion for your first 3 guests for your new and unbooked listings.

Non-refundable option: Boost bookings with new tiered pricing. More choices for guests, more revenue for you.

In another example, this is how the price would be calculated using a rule-set with a nightly rate rule, an early-bird discount, and a weekly discount:

  • Nightly rate of $100 plus a 10% nightly rate increase = $110
  • Early-bird discount of 20% combined with a monthly discount of 30%
  • Total takes the $110 nightly rate and applies only the 30% monthly discount for a total of $77.00

After the price is calculated using your rule-sets, the cleaning and Airbnb service fee are added to the total reservation price.

For more information on how the discounts work on the Airbnb platform, how to combine them, and how to apply them, we recommend that you always consult the Airbnb website.

 

 

If your rule-set includes multiple pricing rules, they’ll be applied in this order:

  1. Nightly and weekend pricing
  2. Length-of-stay (weekly, monthly) discounts
  3. Early-bird and last-minute discounts

 

 

For example, this is how the price would be calculated using a rule-set with both a nightly rate rule and an early-bird discount rule:

  • Nightly rate of $100 plus a nightly rate increase of 10% = $110
  • $110 minus a 20% early-bird discount = $88

In another example, this is how the price would be calculated using a rule-set with a nightly rate rule, an early-bird discount, and a weekly discount:

  • Nightly rate of $100 plus a 10% nightly rate increase = $110
  • Early-bird discount of 20% combined with a monthly discount of 30%
  • Total takes the $110 nightly rate and applies only the 30% monthly discount for a total of $77.00

After the price is calculated using your rule-sets, the cleaning and Airbnb service fee are added to the total reservation price.

For more information on how the discounts work on the Airbnb platform, how to combine them, and how to apply them, we recommend that you always consult the Airbnb website.

 

 

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You can add the following rules:

  • Price per night: modify the rate per night depending on the time of the year. For example, you can create a rule that increases the price by 10% during the holidays.
  • Discounts for length of stay: offer a discount to guests who book long stays. You can set them per week, per month or according to any other period of time you choose.
  • Last minute discounts: reduce the price per night as the arrival date approaches.
  • Early booking discounts: add a discount for guests who book in advance.
  • Length of stay requirements: establishes the minimum and maximum number of nights that travelers may book.
  • Arrival and departure requirements: select the days on which guests may check in and check out.

 

How rules are used to calculate your nightly price?

Once you apply a rule-set to a listing, it will override existing pricing and availability settings you’ve set for those dates. However, these rules will not affect listing prices when Smart Pricing is turned on—so you must turn Smart Pricing off in order to use this feature.

If your rule-set includes multiple pricing rules, they’ll be applied in this order:

  1. Nightly and weekend pricing
  2. Length-of-stay (weekly, monthly) discounts
  3. Early-bird and last-minute discounts

 

 

For example, this is how the price would be calculated using a rule-set with both a nightly rate rule and an early-bird discount rule:

  • Nightly rate of $100 plus a nightly rate increase of 10% = $110
  • $110 minus a 20% early-bird discount = $88

In another example, this is how the price would be calculated using a rule-set with a nightly rate rule, an early-bird discount, and a weekly discount:

  • Nightly rate of $100 plus a 10% nightly rate increase = $110
  • Early-bird discount of 20% combined with a monthly discount of 30%
  • Total takes the $110 nightly rate and applies only the 30% monthly discount for a total of $77.00

After the price is calculated using your rule-sets, the cleaning and Airbnb service fee are added to the total reservation price.

For more information on how the discounts work on the Airbnb platform, how to combine them, and how to apply them, we recommend that you always consult the Airbnb website.

 

 

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Seasonal Pricing: Create different types of rule-sets to apply to your dates and listings.

  • Nightly price increase/decrease
  • Length-of Stay discounts
  • Last-minute discounts
  • Early bird discounts
  • Availability setting (min/max stay)

 

How do rule sets work?

It’s as simple as creating one, naming it and adding the rules that will adjust your price per night when you apply them.

You can add the following rules:

  • Price per night: modify the rate per night depending on the time of the year. For example, you can create a rule that increases the price by 10% during the holidays.
  • Discounts for length of stay: offer a discount to guests who book long stays. You can set them per week, per month or according to any other period of time you choose.
  • Last minute discounts: reduce the price per night as the arrival date approaches.
  • Early booking discounts: add a discount for guests who book in advance.
  • Length of stay requirements: establishes the minimum and maximum number of nights that travelers may book.
  • Arrival and departure requirements: select the days on which guests may check in and check out.

 

How rules are used to calculate your nightly price?

Once you apply a rule-set to a listing, it will override existing pricing and availability settings you’ve set for those dates. However, these rules will not affect listing prices when Smart Pricing is turned on—so you must turn Smart Pricing off in order to use this feature.

If your rule-set includes multiple pricing rules, they’ll be applied in this order:

  1. Nightly and weekend pricing
  2. Length-of-stay (weekly, monthly) discounts
  3. Early-bird and last-minute discounts

 

 

For example, this is how the price would be calculated using a rule-set with both a nightly rate rule and an early-bird discount rule:

  • Nightly rate of $100 plus a nightly rate increase of 10% = $110
  • $110 minus a 20% early-bird discount = $88

In another example, this is how the price would be calculated using a rule-set with a nightly rate rule, an early-bird discount, and a weekly discount:

  • Nightly rate of $100 plus a 10% nightly rate increase = $110
  • Early-bird discount of 20% combined with a monthly discount of 30%
  • Total takes the $110 nightly rate and applies only the 30% monthly discount for a total of $77.00

After the price is calculated using your rule-sets, the cleaning and Airbnb service fee are added to the total reservation price.

For more information on how the discounts work on the Airbnb platform, how to combine them, and how to apply them, we recommend that you always consult the Airbnb website.

 

 

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Sustainable Vacation Rentals