How do I use the information on the Stats Tab to help me make my pricing decisions?

Updated 2 weeks ago by Beyond Pricing

In the Stats Tab, you can find information on recent bookings, top bookings, past and upcoming occupancy metrics, average daily rate, and more. Let's take a look at what each section of the Stats Tab shows you and how you can use this information to manage your listing.

Recent Bookings

This Recent Bookings table shows you the five most recent bookings that have come in on this listing in chronological order (with the most recent booking appearing at the top). You'll also see the Arrival Date for the booking, associated Average Daily Rates and length of stay.

Why is this useful?

This is a great way to get a sense of your booking pace.

Are all the recent bookings within the last week? Time to raise your Base Price.

No bookings in a long time? Time to decrease your Base Price.

For more information on your ideal booking pace and how to monitor it check out this article on reading your Health Score.

Top Beyond Pricing Bookings

The Top Beyond Pricing Bookings table shows you five recent bookings where you made the most money compared to your Average Daily Rate. It will only include bookings that have occurred since you've started syncing with Beyond Pricing. 

Why is this useful?

It shows you where you have made more money! Please keep in mind that increasing your ADR for high demand periods isn't the only way that Beyond Pricing makes you more money. Getting you more bookings during low season and increasing occupancy is also a key revenue growth driver. It won't, however, be reflected in this section.

Occupancy

The Occupancy Chart shows the percentage of nights you have booked for any given month. Simply hover over the bar to see the exact number. It will also show you blocked days in gray.

The chart shows historical occupancy for the last year, as well as future occupancy for the next three months (as it stands today).

Why is this useful?

This chart can be useful to understand how your property is performing year-over-year. You can also use it to see how you compare to the average market occupancy, which you can see on the Market Data tab. These comparisons can help you understand if you may need to adjust your pricing strategy. 

We recommend reading the Occupancy Chart alongside the Average Daily Rate Chart. Read on for examples!

Average Daily Rate

The Average Daily Rate Chart shows you the average price guests paid for a night during that month. Similar to the Occupancy chart, if you hover over the line it will show you the exact dollar amount for each month.

Why is this useful?

Like the Occupancy Chart, this gives you a good indication of how your property is performing year-over-year.

Reading Occupancy and Average Daily Rate Together

We recommend looking at the Occupancy and ADR charts together as they go hand in hand. Let's look at some examples:

Increasing Occupancy and Average Daily Rate

Here we can see that in May 2018 this listing had an Occupancy of 58% and an Average Daily Rate of $161. We can see that in May 2019 the same listing had an Occupancy of 70% and an Average Daily Rate of $183.

May 2018 Revenue - 31 days x 58% x $161 = $2,894.78
May 2019 Revenue - 31 days x 70% x $183 = $3,971.10
So by increasing Occupancy and increasing Average Daily Rate we made more money.

Increasing Occupancy and decreasing Average Daily Rate

Here we can see that in May 2018 this listing had an Occupancy of 70% (excluding blocked days) and an Average Daily Rate of $167. We can see that in May 2019 the same listing had an Occupancy of 80% (excluding blocked days) and an Average Daily Rate of $160.

May 2018 Revenue - 31 days x 70% x $167 = $3,623.90
May 2019 Revenue - 31 days x 80% x $160 = $3,986
So by increasing Occupancy and decreasing Average Daily Rate we made more money.

Decreasing Occupancy and increasing Average Daily Rate

Here we can see that in May 2018 this listing had an Occupancy of 96% and an Average Daily Rate of $68. We can see that in May 2019 the same listing had an Occupancy of 87% and an Average Daily Rate of $106.

May 2018 Revenue - 31 days x 96% x $68 = $2,023.68
May 2019 Revenue - 31 days x 87% x $106 = $2,858.82
So by decreasing Occupancy and increasing Average Daily Rate we made more money.

So using Beyond Pricing is going to help you find the ideal balance between occupancy and ADR, and this is a great way for your to visualize how your current Base Price is doing in terms of those metrics.

Average Stay Length

The Average Stay Length Chart shows the average number of nights guests stayed in a month.

Why is this useful?

This information can give you an idea of the typical length of bookings that you get during various times of the year. It can also provide more context when examining the occupancy numbers in a given month, as well as the ADR. If you have a high average stay length in a given month and often offer weekly and monthly discounts, you will likely see lower ADRs.

Here you can see that our Average Stay Length for the year is around 4-5 nights. We can see that the Average Stay length in January is closer to 18 days. If we look at the Average Daily Rate Chart we can see that January 2019 has the lowest ADR. So it's possible that the guest was offered a significant discount for a long term stay and it makes sense that the ADR would be lower than usual.

Revenue Per Available Night

The Revenue Per Available Night Chart shows the total revenue divided by the number of nights for any given month.

RevPAN is a Beyond Pricing created metric and is similar to RevPAR (Revenue Per Available Room) in the hotel industry.

Why is this useful?

At a high level, RevPAN takes all of the money you made in a given month and distributes it evenly between all days in that month (both booked and unbooked days). It is a great way to track overall performance.

Booking Volume ($) By Stay Date

The Booking Volume ($) By Stay Date Chart shows the total amount you earned in any given month based on checkin or stay date.

Why is this useful?

Beyond Pricing charges based on the date the booking is made, rather than the date the booking is for. This is different to Airbnb and VRBO/HomeAway, for example, who pay you, the host, when the stay occurs. This Chart helps you visualize which months are your top money makers.

Booking Volume ($) By Booking Date

The Booking Volume ($) By Booking Date shows the total amount you earned in any given month based on booking date.

Why is this useful?

This Chart helps you identify when your most popular time for booking is for your listing so you can make sure that your prices are accurate.

If we look at the Booking Volume ($) By Stay Date Chart we can see that we make the most money for bookings for people to stay in June and July. If we look at the Booking Volume ($) By Booking Date Chart we can see that the spikes are in May and June. This indicates to us that most people staying in our listing in June and July book their trips in May and June, so we shouldn't worry about not being booked far in advance!

Maximum Daily Rate

The Maximum Daily Rate Chart shows the highest price, excluding fees, guests paid for any given month.

Why is this useful?

This is a good snapshot of what was the best day for you in any given month. It is usually a good indicator of the price you were able to charge for a local event (such as a holiday weekend) in your market and it will be higher than your Average Daily Rate.

Bookings By Check-In Date

The Bookings By Check-In Date Chart shows the number of bookings that have a checkin date scheduled for any given month.

Why is this useful?

It helps you understand trends in your listing and which months may require more of your time spent on organising cleaners, guest communication etc.

Bookings By Booking Date

The Bookings By Booking Date Chart shows the number of bookings that were made during any given month.

Why is this useful?

This Chart gives you a more detailed look at your average booking pace. While a general rule of thumb is that you should receive 1-2 bookings per week if you are in an urban market and 1 booking a week if you are in a more rural market, this allows you to see how you are pacing based on when you received bookings last year.

We can see here that we only received one booking in December 2018 for our listing, so we can probably expect bookings to be slow in December 2019. We can also see that most of our bookings come in in April and May

Average Booking Lead Time

The Average Booking Lead Time Chart shows the average lead time in days for bookings made to stay in any given month.

Why is this useful?

This chart shows you how far in advance people tend to book to stay at your listing during different months of the year.

When you start using Beyond Pricing is it common to see the booking lead time decrease. This is general a good thing and means you are receiving more bookings during the ideal booking window for your market. To find out more check out Health Score.


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