This Revenue Manager Roundtable webinar features a discussion among revenue managers who share insights and strategies regarding vacation rental revenue management.
The conversation addresses challenges in booking windows, the balance between occupancy and average daily rate (ADR), tactical shifts in strategy, adapting to changing consumer behavior, and understanding the impact of supply and demand dynamics.
Key Discussion Topics:
- Challenges in Booking Windows: Revenue managers discuss the shrinking 30-day booking window and the strategic focus on the 60-90 day booking window due to changes in market demand.
- Balancing Occupancy and ADR: The importance of adjusting pricing and length of stay restrictions to optimize booking potential and address the increasing rate resistance in the market.
- Tactical Shifts in Strategy: The need to return to the fundamentals of revenue management, considering changes in short-term behavior and effectively planning for future seasons.
- Adapting to Changing Consumer Behavior: The necessity of understanding market segmentation, analyzing data, and responding to evolving consumer expectations in different markets.
- Impact of Supply and Demand Dynamics: Understanding market supply and demand dynamics to formulate effective revenue management strategies for diverse property portfolios.
