Performance Metrics on Review Prices Dashboard

Listing's health on PriceLabs Dashboard

The Performance Metrics (Listing's Health)  helps you stay more informed about how your listings are performing relative to the market easily, and also helps in making adjustments to your settings. This is available on the main Review Prices and Multi-Calendar pages.
A lot of this information was already available in our Neighborhood Data Tab but with this update that information is available at a quick glance for all your listings!



A summary of the Performance Metrics

  1. We are showing occupancy rates of the listing for the next 7, 30 and 60 days by default.
  2. The colors are based on relative performance of your listings compared to similar listings around you (called Market Occupancy here):
    1. Red: listing's occupancy is less than [0.8 x Market Occupancy]
    2. Yellow: listing's occupancy is between [0.8 x Market Occupancy] and [Market Occupancy]
    3. Green: listing's occupancy is between [Market Occupancy] and [1.2 x Market Occupancy]
    4. Blue: listing's occupancy is higher than [1.2 x Market Occupancy]
    5. Gray: waiting on either listing's or market occupancy to be calculate (may happen for newly imported or inactive listings). In case of newly imported listings, the color should change within a day.
  3. Hovering over the information capsules will show you the market occupancy as well.
  4. These are updated once a day, and are also available on the Multi-calendar and when you review prices for a listing (next to the calendar).
  5. By default, the market occupancy used for the performance metrics is based on Airbnb data, but if Neighborhood Profile Data Source is switched to Vrbo. Vrbo data will then be used. 
  6. We try to get closest 350 listings of similar home size (by BR count) within a 15 KM radius. 
 These metrics default to next 7, 30, and 60 days on a rolling basis, but you can also choose different future booking windows from the Advanced settings page.

This is also available on Review Prices page by clicking on the three dots on top right corner or Review prices page you can adjust the days during which you want occupancy to be listed.
You can change the default set to 7,30 and 60 days to the number of days you want it to be among various options (Please refer below)


How to use these performance metrics?

As an example, for the first listing above it seems like we are beating the market on last minute bookings, but the market seems to be getting more bookings farther out (7 day metric is green, 15 day is yellow, and 30 day is red). There could be a few reasons for this:
  1. Your base price is too high, and you're only getting bookings very last minute when the last minute discounts kick in. You could look at reducing your base price a little and at the same time reduce the last minute discounts to achieve the following:
    1. Keep last minute prices more or less the same, as you are already getting bookings and shouldn't lower prices for those further
    2. Reduce farther out prices a bit so that you take more bookings farther out (when last minute discounts haven't kicked in).
  2. Alternately, maybe you are aware of this and you've designed your strategy to be such that you're okay not taking bookings farther out!
How would I be able to see the performance based on only my listings' occupancy and not relative to the market?
While this is an important and useful change, we do understand that you might have certain processes tied to the previous colors schemes - if you want to switch back to the older coloring scheme, you can reach out to our support team at support@pricelabs.co!


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