Average Daily Rate (ADR) is a key performance indicator used in the hospitality industry. It represents the average rental income per paid occupied room in a given time period.
Availability refers to the dates and times when a property is available for booking by guests.
Accommodation refers to a place, such as hotels, motels, or vacation rentals, where travelers can stay overnight.
Amenities are features or services that enhance a guest's stay, such as Wi-Fi, a fully equipped kitchen, a swimming pool, or toiletries.
The fee charged by the platform where the property is listed, usually a percentage of the booking cost.
Booking.com is a popular online travel agency (OTA) that provides a platform for property owners and managers to list their accommodations and for travelers to make reservations. It offers a wide range of accommodations, including hotels, vacation rentals, and bed and breakfasts (B&Bs).
A booking refers to a reservation made by a guest to stay at a property for a specific period of time.
Adherence to local laws, regulations, and platform policies related to short-term and holiday rentals.
Check-out is the process by which guests depart and officially end their stay at the property.
A cleaning fee is an additional charge to guests to cover the cost of cleaning the property after their stay.
Check-in is the process by which guests arrive and gain access to the property at the start of their stay.
A channel manager is a tool that allows hosts to manage multiple listing platforms or distribution channels from a single interface.
A cancellation policy outlines the terms and conditions for guests to cancel their booking, including any penalties or refunds.
Calendar management involves keeping track of a property's availability for bookings, including managing reservations, blocking off unavailable dates, and updating the calendar in real time.
In the context of short-term rentals, an experience refers to the overall impression and satisfaction a guest has during their stay at a property.
Estimated earnings refer to the projected income a host can expect to receive from renting out their property, based on factors like pricing, occupancy rate, and booking frequency.
Changeover Clean refers to the thorough cleaning process that takes place after a guest checks out, preparing the property for the next guest.
Early check-in allows guests to access the property before the standard check-in time.
The owner or manager of a short-term rental property who is responsible for preparing the property for guests, managing bookings, and providing customer service.
A policy that provides financial protection for hosts in case of damages to their property, liability claims, or other risks associated with renting out a property.
A reduction in price offered to guests who book a property close to the check-in date.
A reduction in price offered to guests who book a property for a certain length of time.
When a property is listed on multiple booking platforms to increase visibility.
When a guest does not arrive for their booking and does not communicate their change of plans to the host.
The process of ensuring that a property meets certain standards of cleanliness, comfort, and safety.
A period of time set by the host during which guests are asked to keep noise to a minimum.
The initial period after a property is listed, during which bookings and revenue may be lower as the property gains visibility and reviews.
A sum of money paid by the guest that can be returned at the end of their stay, provided there are no damages or other issues.
A contract between the host and the guest outlining the terms and conditions of the rental.
An estimate of future income from a property based on factors like booking rates, pricing, and market trends.
Regular checks of a property to ensure it is well-maintained and to identify any necessary repairs or maintenance.
An amount of money collected from guests to cover potential damages to the property during their stay.
A property that is rented out for short periods of time, typically ranging from a few days to a few months.
A light cleaning process that takes place during a guest's stay or between closely spaced bookings.