Terminology and KPIs (+ Panel Discussion on RevPAR)
Successful revenue management not only requires access to comparative data, it also requires a comprehensive understanding of the data, including definitions, equations, and why they matter. Rented COO Cliff Johnson and Penn State’s Revenue Management professor Breffni Noone will take us through the terminology and KPI equations used by revenue managers to craft, implement, and evaluate effective pricing strategies.
RevPAR DEBATE: One of these important metrics in revenue management is RevPAR (revenue per available room), and vacation rental industry platforms have multiple ways of measuring RevPAR. Breffni Noone will talk about why this metric is important, and then industry leaders will discuss the current iterations. Be a part of history, as we will be “flies on the wall” watching as the vacation rental industry gets on the same page about RevPAR.
Cliff Johnson is the Chief Commercial Officer at Rented.com where he leads the growth and revenue management teams by helping property managers optimize the revenue of the homes in their existing portfolio and execute on a sustainable growth strategy. Before joining Rented.com, Cliff served as the Co-Founder of Vacasa for almost a decade. He oversaw the expansion of the company’s portfolio as the COO and later served as the Head of International as they grew to become the largest vacation rental manager in the United States and expanded to 16 countries. In addition to his role at Rented.com, Cliff is an active attorney licensed in Colorado and California and he serves as a board member for Eugene-based nonprofit MAPLE Microdevelopment. He is also an advisor to TripGrid, VirtualKEY, Vector Travel and Dweller – all startups within the travel and housing space and he is an avid promoter of socially conscious businesses and innovation in travel.