Understanding the Market Data Tab
Once you connect you Airbnb or HomeAway listings to Beyond Pricing you have access to all the Market Data we source from a variety of publicly available sites, including Airbnb, HomeAway, Expedia and Booking.com. Here's a breakdown of what each graph on the Market Data tab tells you about your market.
Neighborhood Occupancy - Last Year
This graph shows you what occupancy was in your market last year, thereby showing you the seasonality of your market. This graph is a great way to identify trends in your market and see which dates have historically been the busiest. Here we are looking at Palm Springs and we can see that it is a popular weekend market, as shown by the significant fluctuations in occupancy percentages from weekend to weekday. It also helps us identify popular events that bring people to your market, such as the two weekends of the Coachella Music Festival and New Year's Eve, for example. This graph gives you a good idea of what to expect this year based on what we saw in the market last year.
Neighborhood Occupancy - Upcoming Year
This graph gives you a snapshot of what occupancy looks like in the market as it stands today. This graph is a great way to see what occupancy looks like in the short term and if it is trending the same way as last year. This chart can also help you identify events into the future that you may not be aware of.
This graph helps you get a sense of how your pricing compares to the market. It highlights the average pricing for Airbnb and HomeAway listings of a similar size and quality in your market. We don’t recommend that you make your pricing decisions based on the average prices of other listings, we don’t really know what information people are using to make these pricing decisions. Think of it this way - you wouldn’t want to cheat off of C students! Rather, this is a good way to get a sense of where your listing falls within the market. If it is a more luxury unit, you would expect to be priced higher than the average. If it is a more economy offering, you would expect to be priced a little bit lower. Here you can see the listing is luxury and is priced above the market.
Hotel Pricing - Upcoming Year
Hotels have dedicated Revenue Management Teams who identify events much further in advance than the vacation rental market. We use this information to capture spikes in demand happening six months or more into the future. As we get within six months, we rely less on hotel pricing as the vacation rental market generally corrects itself.