Percentiles are a great way to rank property performance when looking at a varied dataset of different property types with differing numbers of available days. Each percentile represents a group of properties and how they are performing in certain metrics.
The properties that sit in the 90th percentile represent the top 10% performing properties, the 75th percentile the top 25%, the 25th percentile the bottom 25%, and the 50th percentile the median, and the majority making it the most reflective of a market's general performance.
In the example above, the 50th percentile achieved an occupancy rate of 57% in January of 2021, therefore, the majority of properties in that month were occupied 57% of the days they were available to be booked. Knowing your occupancy, rates, or revenue for a month and comparing it to the corresponding percentiles helps you understand how you’re performing within your market and if there’s room for improvement.