With the Pacing tool in MarketMinder, you can utilize forward-looking data to see what is coming in your market and ensure you position yourself strategically to optimize your short-term rental listing.
Showing the next six months of market performance, Pacing gives you an inside track on reservation demand, average daily rates (ADR), and when people are booking.
Future Demand Analysis
Understanding the booking demand for the next six months can help you plan for any potential high and low points, allowing you to adjust your pricing accordingly and ensure you receive bookings consistently.
Using the daily breakdown, you can see spikes in bookings against the number of available properties and median booked and available rates. You can see in the example above that bookings seem to trail off from the three-month point, which is pretty consistent with booking trends, as most guests generally don’t book that far in advance.
Setting your rate for the coming months can be a tricky process. Using the historical market performance data in MarketMinder, you can match how much was charged previously. With Rate Analysis, you can see how the market has priced moving forward, helping to guide your pricing strategy and ensuring you’re not leaving money on the table. Showing both the booked and available rates for each day, you can assess the differences and how that may change across dates further down the road and ones closer to the time.
Knowing when people book in your market is very useful. Understanding booking patterns in your market can help implement a pricing strategy that capitalizes on when bookings come in. The Booking Trends chart shows when bookings were made for each day over the next six months. These are broken down by the number of bookings made in the last 60 days, 30 days, and seven days.