In the vacation rental industry, the practices of data management and revenue management are transforming in front of our eyes.
In the past, property managers determined pricing based on fixed seasons and days of the week. Now, to maximize profitability and occupancy, managers find themselves needing to:
- Understand comparative data,
- Segment properties and create competitive sets,
- Analyze key performance indicators,
- Build revenue management strategies,
- Establish rate rules,
- Learn to maximize technology solutions,
- And monitor and evaluate performance with a watchful eye on profitability.
It’s not easy, and the industry does not yet have established best practices for vacation rental revenue management, but we are getting closer.
The Vacation Rental Data and Revenue Management Conference (DARM) is designed to help property managers who are serious about examining 2020 performance and understanding available data sources, property segmentation, comp sets, breakeven points, KPI metrics, and pricing strategies as ingredients of a sound revenue strategy.
While we would love to have this conference in Denver as planned, due to Covid-19, we must host this in an online format. As a result, we will be putting an additional focus on education, and we’re confident that this curriculum will advance your understanding of data/revenue management and will help you realize a new level of profits and occupancy for your company and for your homeowners.