Boost your revenues, increase occupancy rates and improve your distribution network with Business Intelligence for Vacation Rentals.
It’s no secret that technology is a competitive advantage for your vacation rental business. We’ve already seen many innovations, from new ways of managing accommodation, with the use of systems like Avantio, to smart online check-in solutions or electronic locks. And these are just some of the notable examples, but the evolution of the sector is about more than just new additions to your properties. It’s about what your properties can bring to you. Every day millions of pieces of data flow through your website, your booking engine, the portals you are connected to or review pages. Use this data to grow. Unlock Business Intelligence for Vacation Rentals.
Business Intelligence for Vacation Rentals
Business Intelligence (BI) refers to all those tools and strategies that make it easier to monitor, extract and transform data into useful information in order to make better decisions. Data is presented in a more visual and transparent way, so you can easily detect customer behavior patterns or seasonal trends and make well-informed decisions.
Data not only gives you the opportunity to increase your revenue or reactivate unnoticed opportunities, but also provides transparency and status to your business while allowing you to control relevant information for tax, audit, marketing or human resources purposes. Take advantage of everything they bring to you.
How does Business Intelligence for Vacation Rentals facilitate your day-to-day tasks?
- Easy access to information – by adequate collection and organization of your business data, you will have it accessible whenever you need.
- Control of your business – you will clearly see where your income and expenses come from, and how your business is managed. Increase your revenue.
- Optimization of your time – you will no longer spend time making comparisons, BI tool providers will do it for you.
- Resource optimization – by eliminating most of the manual processes, the operations cost will be reduced.
However, it is not so easy to process all the data that circulates in your company or in your business environment. Avantio has several providers of Business Intelligence for Vacation Rentals, including Price Labs, Key Data and our most recent addition – Transparent, that will enhance your development with their tools.
Most prominent Business Intelligence for Vacation Rentals providers
How do Transparent’s Business Intelligence for vacation rentals solutions help you with your vacation rental business strategy?
- Set your prices per night and accommodation, as well as occupancy rules, thanks to Transparent’s analysis of competitors’ rates and occupancy.
- Monitor the reviews of accommodations in your area and see the soft spots that guests post about them. Transparent shows you the reviews of your competitors.
- Understand what your guests are looking for by analyzing their origin, the offer and occupancy in your area and provide them with a 5-star experience.
- Plan your strategy based on the trends and behaviors that are shaping the vacation rental industry.
- Get new properties to manage with Transparent’s functionality that allows you to search for owners to target. Filter the map of listings in the area you are interested in by apartment, number of rooms or by reviews.
- Get more profitability by tracking the performance of your accommodations compared to other properties with features you are interested in (e.g. luxury villas, apartments with pools).
Transparent is the world’s leading data intelligence provider for the short term rental industry. It is an American-Spanish company based in Madrid founded 2016 and since then Transparent focuses on helping Property Managers optimize their strategy and maximize their revenue.
Their tool analyzes 35 million vacation rental listings from Airbnb, Vrbo and Booking.com worldwide to provide valuable insights through their platform. They examine different types of data: from vacation rental demand, occupancy and competitor rates, to inventory supply, revenue calculation, review analysis and guest origin. See what makes your properties stand out in the market.
Make the best decisions and grow with data.
PriceLabs is a specialized revenue management platform for vacation rental agencies. It provides a dynamic pricing structure based on supply and demand. Using this data, both from the past and from the future, it allows the agency to optimize its pricing and increase occupancy based on market trends and available slots in the calendar.
What benefits does PriceLabs offer?
- Fill your booking calendar by detecting orphan nights and instantly analyzing market trends.
- Increase your revenue. Set the right prices with the dynamic calendar tool based on demand analysis and market factors.
- Improve occupancy. Set customized prices for different seasons, holidays and attract more customers.
- Make special offers on orphan dates with a dedicated PriceLabs section where you can decide property by property to apply a discount and a minimum stay on a given number of available dates between booking.
- Save time. Don’t waste more time adjusting prices manually. Easily detect the days when you can raise prices or if necessary, lower them.
Key Data is the leading provider of real-time data for the lodging industry. Through direct integrations with management systems for vacation rental professionals and resorts worldwide, Key Data aggregates real-time historical and forward-looking data to create industry-leading analytics dashboards for vacation rental managers and real estate professionals.
Stand out from your competition with Performance Analytics, Benchmarking Intelligence, Pacing Trends and Marketing tools.
How can you get the most out of your business with Key Data?
- Price your properties in a competitive way by benchmarking them against your market.
- Secure your reservations before the competition by easily detecting the properties that need price adjustment.
- Be prepared for the future demand. Key Data will provide you with the number of visitors you can expect in the next 30 days.
- Make informed decisions and work towards business objectives with the dashboard that gives you all the KPIs (e.g. RevPAR, ADR, average revenue per guest, unit revenue) you need to succeed.
Benefits of using Business Intelligence for Vacation Rentals
Same, as there is a lot of data to analyze, there are many data analytics providers. Not all of them however are specialized in Business Intelligence for Vacation Rentals. Avantio has multiple partners that can boost your use of data, and that there are a lot of perks coming alongside that.
- maximum profit achieved by adjusting your operations
- efficient decision making based on KPIs relevant for the sector
- maximized occupancy
- increased social media presence and engagement