193. Know Your Numbers and Empower Your Business with Quarterly Reports
Quarterly recaps are a MUST for your business. Whether you’re managing properties for clients, or self-operating your STR listings, regular quarterly reports can help provide a holistic, high-level view of your business’ performance.
This real data puts a different spin on the day to day grind, especially in those moments where you feel like you’re having a slow week or your booking calendar is empty. Having oversight into your listings’ performance from month to month, and quarter to quarter, allows you to zoom out and keep you informed. Data over drama!
Our 4 Key Metrics in the Quarterly Report:
- Occupancy rate
- Average Daily Rate (ADR) = Total Rev / Nights Sold
- Revenue Per Available Room (RevPAR) = Total Rev / Available Rooms
- Total Revenue
Resources:
- #STRShareSunday: @AllBelong.co
Thanks for Visiting is produced by Crate Media.
Mentioned in this episode:
Minoan | Minoan helps short-term rentals and boutique hotels enhance their appeal with their customizable, curated retail platform.
Minoan | Visit MinoanExperience.com and tell them TFV sent you!
Hosting Business Mastery Method | Join us for our live, free, host masterclass and learn how to OWN your digital real estate!