Knowing how properties perform in your local market is an essential pillar of vacation rental revenue management.
Analysing market data and combining it with your own booking performance metrics is the best way to improve your revenue management and distribution strategies.
That’s why we’ve created a series of fact sheets that contain all the insights you need, based on exclusive data from Rentals United Data Studio, our proprietary revenue success software.
By downloading our country fact sheets, you’ll get access to the following data broken down by destination and property type:
- ADR (Average Daily Rate)
- LOS (Length of Stay)
- Booking window
- Cancellation rate
- Cancellation window
- Top-performing channels
To give you a taste, here are some highlights from our country reports:
Vacation rental performance in Mexico
Our analysis covered three major destinations in Mexico: Mexico City, Riviera Maya ((Playa del Carmen, Tulum, Puerto Morelos, Cancún, Akumal) and Los Cabos. The reservations we analysed were made between April 1st and June 30th, 2022.
Key insights:
Mexico City
- Mexico City had a large percentage of last-minute reservations: 41% of bookings were made 0-2 days before arrival.
- The ADR of these last-minute reservations was $302 – nearly three times as high as the ADR of the second most popular booking window (15-30 days before arrival, ADR $110).
- This signals that property managers in Mexico City may be able to keep their rates high as the check-in date approaches and sell their units at a higher ADR last minute.
Riviera Maya
- Riviera Maya had the highest percentage of cancellations among the destinations we looked at, especially for smaller units: 75% of studio and one-bedroom bookings were cancelled.
- However, most cancellations happened early on (in the 46-60-day window), leaving time for resale.
- Demand was still high in the 0-14-day window (40% of reservations were made in this period), making it a good time to focus on driving ADR.
Los Cabos
- Los Cabos had the longest booking windows out of the three Mexican destinations we analysed.
- One-bedrooms were booked 107.3 days in advance on average while three and four-bedrooms were booked 132.0 days in advance on average.
- ADRs were highest in the far-out bookings windows, suggesting that property managers should focus on locking in early-bird bookings.
For more insights – including the top-performing channels in each destination – get your copy of our Q3 fact sheets now.
Vacation rental performance in Chile
Our analysis covered the coastal towns of Algarrobo, Valparaíso, Viña del Mar, Concón and Papudo. The reservations we analysed were made between April 1st and June 30th, 2022.
Key insights:
Coastal towns
- The vast majority of reservations (88%) were made in the 30-day period prior to check-in, with ADRs for this ranging between $83 and $105 depending on the exact booking window.
- The cancellation window for 1-bedrooms was relatively short (9 days), but there was still demand 0-8 days out. This signals that property managers may not need to drop their rates too low to recover cancelled bookings.
- Since only about 22% of reservations were made more than 30 days out and just over 2% were made more than 60 days out, encouraging early-bird bookings with discounts may be a good idea.
Vacation rental performance in Brazil
Our analysis covered one, two and three–bedroom properties in São Paulo. The reservations we analysed were made between April 1st and June 30th, 2022.
Key insights:
São Paulo
- Almost all (95%) of reservations were made in the 0-45-day booking window and 44% were made just 0-7 days before arrival.
- In the 45 days before arrival, ADRs ranged between $281 and $320 depending on the exact booking window.
- Cancellation rates were low and most cancellations happened far out (26-36 days before check-in), leaving time for resale.
- This shows that property managers may not need to drop their rates as the check-in date gets closer. There is enough last-minute demand to justify focusing on driving ADR.
Need insights into a different market? We can help!
Our goal at Rentals United is to help our clients improve their distribution and revenue management strategies to achieve their revenue goals.
We’re not just a channel manager but a partner to advise you on strategy according to your business needs.
Thanks to our proprietary revenue success software, we can provide you with all the data and tools you need to get actionable insights into your market and your portfolio’s performance, no matter where you are in the world. Let us show you how!