What is Revenue Management?
A widely used definition is that Revenue Management consists of selling, or renting, the correct property, to the correct client, at the correct time, through the correct channel, for the optimum price.
A property can be, for example, a hotel room, a plane ticket or, in our case, short-term rentals or the rental of apartments for vacation tourism.
Another more colloquial way of defining Revenue Management is to define it as the management of the price and availability of the apartment with the aim of maximizing the income it produces.
By price we refer both to the specific price set for that day and to what is related to rates and different conditions of the final price for the guest: promotions, extra guest cost, cancellation policy…
By availability we refer fundamentally to what in the sector we call "calendar opening", its dynamic management and above all, the minimum stay.
By short-term rental we refer to the rental of apartments or houses for short stays, considering short stays that which is less than 30 days.
Revenue Management is already widespread in other sectors such as the hotel industry or commercial aviation, where companies, depending on their size, usually have a Revenue Management department, or subcontract it to specialized companies like ours.
Short-Term Rentals sector is relatively recent and its creation has come hand in hand with the appearance and growth of Airbnb and similar OTAs (Online Travel Agencies) like Booking.com, Expedia...
In Short-Term Rentals companies Revenue Management is still rare and there are many apartment owners who still do not make use of this discipline that increases income.
A correct Revenue Management requires the intensive use of data and algorithms to be able to predict demand and be able to apply pricing strategies that maximize Revenue.
That's what we do at ListingOK, where we have our own cloud platform to serve our clients. We have been working on technology for Airbnb and Booking hosts since 2014, offering them the optimal pricing for their homes.
We have an experience and technology that allows us to offer service that quickly increases the income of our clients' properties.
Our strategies consistently deliver
revenue increases exceeding 20%
for our clients
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