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Updated about 6 years ago,
Are you tracking DIA (days in advance) of booking?
I'm a data guy (nerd), and I like and I track anything that might help drive my STR business. One data point that helps me "Stay Calm and hold that rate" is tracking how far in advance my guests book and I thought I would share my results for (3) of my properties that were available for the entire year. I track it by OTA (ABB and VRBO) and Direct bookings. The interesting thing I find, is that the OTA's want you to believe that a high percentage of bookings happen a short time prior to the guest stay. I don't see that happening. Maybe I price my places too competitively early on, but since I'm a data nerd, I am constantly checking my competitors rates, so I think I hold the line pretty well. What are your DIA's and do you think this data point is relevant in your market?
Property | DIA AIRBNB | DIA VRBO | DIA DIRECT | AVG DIA |
The Oasis | 43 | 60 | 64 | 56 |
Opulence | 46 | 73 | 0 | 40 |
Sanctuary | 40 | 62 | 35 | 46 |