Worldwide: MarketMinder, a data and analytics dashboard developed by vacation rental data provider AirDNA, launched a major update to short-term rental hosts to amplify their market research and boost their SEO performance.
The new Pricing tool, now rolling out globally and available to all MarketMinder subscribers, is designed to deliver an even more personalized experience, allowing users to unlock a true understanding of real estate yield depending on the type and price of any short term rentals.
Max Bernstein, Product Manager at AirDNA, said, “Short-term rental professionals know that pricing an ad today is more nuanced than simple high-level filters can reveal. We’re making business tools available to all hosts, allowing them to do more nuanced research.
“MarketMinder subscribers are now able to explore the essence of listings and access professional revenue management with the click of a button,” he added.
Smarter filters for more accurate information
In terms of competitive benchmarking or optimization of average daily rates [ADRs], the number of rooms alone is no longer enough. In addition to existing filters [number of bedrooms, listing type, and number of guests]The improved Pricing page now allows MarketMinder users to use five additional filters to create more accurate business cases for their listings:
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Price levels [budget, economy, midscale, upscale, luxury]: Based on a proprietary classification system, MarketMinder now allows users to narrow their search to the most relevant properties and better understand the type of customers visiting their marketplace.
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Type of property [apartment / condo / loft, B&B, house / villa, unique stay]: get a clearer picture and more nuanced information – because a one bedroom apartment is not the same as a one bedroom yurt.
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Professionally Managed: Understand how your segment works and see the overall performance of professionally managed properties.
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Ratings [from <4.0 to 5.0]: what is the impact of ratings on price levels in the market?
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Number of bathrooms: in addition to the existing filter on the number of bedrooms, get a more precise overview of the performance of your listing using a key real estate indicator.
With the newly added option to compare as of 2017, hosts can now access and export five years of historical ADR data to understand how the short-term rental market has evolved over the years. This will ultimately help hosts and investors anticipate occupancy trends, set realistic goals, and make more accurate year-over-year business projections for their investments in an industry poised to gain. $63 billion in the United States. alone this year.
More MarketMinder customizations are expected to be unveiled in the coming months to equip short-term rental hosts and investors with professional analytics tools.
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