Booking Lead Time is the period of time between when a guest makes a booking and the actual check-in date for their reservation. We report on this in the Seasonality section of MarketMinder.
Knowing when bookings are made in your market is a great way to gain an edge over your competitors and help you to maximize your revenue. It’s especially useful in seasonal markets or places with upcoming events. By knowing when to have your calendar open to accept these bookings and at what pace they are coming in, you can adjust your pricing strategy accordingly.
We calculate the Booking Lead Time of a listing by looking at the date the property was booked and for which date in the future the booking is for. For example, if a booking was made on the 1st of April for the 30th of April, the Booking Lead Time would be 30 days.