industry terms based on occupancy

[Alan Da Costa]

Hi Everyone,

I'd like your feedback for applying new terms (or teaching me existing terms). So far, market reporting tools like Airdna use traditional industry terms, such as ADR (average daily rate) and RevPAR (revenue per available room night) which require knowledge of occupancy. I assume these terms were coined at a time when information was directly available for a specific property (eg. a hotel). With the coming of online vacation rental sites like Airbnb, true occupancy is not disclosed, and we're left to guess.

The result of guessing is some level of inaccuracy (mild to wild), which brings criticism to market pricing / availability tools. Without knowledge of the occupancy requirement, I think these terms are wrong to use because they're not as defined. I do agree there's comfort in traditional terms because they're widely used and well understood. This might be an overwhelming factor.

We have lots of meaning to extract from available data and we can describe meaning with terms we know, such as the following:

- Open Calendar Daily Rate: daily rate of open (available) calendar days.

- Closed Calendar Daily Rate: daily rate of closed (unavailable) calendar days.

- Changed Closed Calendar Daily Rate: daily rate of calendar days which have been observed to change from open to closed, over time.

Are there existing terms which already describe what I've mentioned? Any opposing thoughts to seeing these terms in a market pricing / availability tool vs. industry standard terms? Thanks in advance for feedback!