Performance Metrics on Review Prices Dashboard

Performance Metrics on PriceLabs Dashboard and Multi Calendar

Why Performance Metrics & How to Use them for Revenue Management?

Metrics are the backbone of measuring success and finding areas of improvement. With the new performance metrics, you can easily sort, filter, and view listings across 7+ useful metrics that you get out of the box

The Performance Metrics (earlier known as 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 Pricing Dashboard and Multi-Calendar pages. A lot of this information was already available in our Neighborhood Data Tab but with the revamped Performance Metrics, that information is available at a glance for all your listings!

Where to find Performance Metrics in PriceLabs?

In PriceLabs, you can find performance metrics after clicking "Add Metrics" button on the Pricing Dashboard or Multi Calendar. The metrics are updated once a day.

Image showing Performance Metrics on Pricing Dashboard

While some metrics will be available to you readily, for some metrics you need Portfolio Analytics enabled. Some of our metrics are calculated based on the reservation data, which takes a maximum of about 24 hours to refresh in the system.
  1. Occupancy, MPI, Minimum Price Hitting Date, Recommended BP to BP Ratio => Don't need Portfolio Analytics enabled
  2. Revenue, RevPAR, ADR, Bookings Pickup, Last Booked Date => Need Portfolio Analytics enabled
In case you are not a paying user, and haven't synced with us ever, clicking on "Save & Refresh" will fetch the data for you, and you can start seeing the numbers.

Available Metrics & Definitions

Total Occupancy


Hovering over the metric will show you  market occupancy

Definition
Total Occupancy is the percentage of days your listing is booked out of the total available days.
Listing Occupancy = (Number of Dates Booked / Total Dates)

Important Note
  1. 100% occupancy implies all the dates in the selected time period are booked.
  2. Note that blocks are considered as bookings.
  3. 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. 
    1. We try to get the closest 350 listings of similar home size (by BR count) within a 15 KM radius for your neighborhood profile.
Color Coding
The colors are based on the 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 calculated (may happen for newly imported or inactive listings). In the case of newly imported listings, the color should change within a day.

Adjusted Occupancy


Hovering over the metric will show you  market occupancy
Definition
Similar to Total Occupancy, however, this excludes the blocks made by the owner (for PMS that we can retrieve block information). This is more accurate if you wish to remove blocked dates from the computation of your occupancy percentage.
Listing Occupancy = (Number of Dates Booked / Total Dates)

Important Note about "Total Dates"
  1. Total dates = dates available excluding owner blocks
    1. Hence the occupancy here is paid occupancy or adjusted occupancy
  2. For some PMSs (streamline, VRBO, airbnb and few others) we don't get owner block information; for these PMSs, the total dates will have blocks counted as bookings
    1. Hence for these PMSs, adjusted occupancy will be total occupancy
  3. Also note that while your calendar might show some dates as unavailable, PriceLabs might not get instantly the information about whether these dates are blocks (it takes a maximum of 24 hours to get the information)
    1. For occupancy calculation, these unavailable dates are considered bookings and not blocks
  4. 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. 
    1. We try to get the closest 350 listings of similar home size (by BR count) within a 15 KM radius for your neighborhood profile.
Color Coding
The colors are based on the 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 calculated (may happen for newly imported or inactive listings). In the case of newly imported listings, the color should change within a day.

Revenue


Hovering over the metric will show you STLY numbers

Definition
Revenue is the total amount of money earned from bookings of your listing over a specific period.
Revenue = Sum of bookings (in the selected days)

Important note
  1. Revenue is only available for listings/PMSs for which Portfolio Analytics is enabled. You can find the list here
  2. STLY Revenue tells about your Revenue for the selected days as of same time last year
    1. If today is September 1 2023 (Friday), and you are looking for Revenue for next 30 days, then STLY Revenue is Revenue for next 30 days as of September 2, 2022 (Friday). Note here that we match day of week, because of which STLY date is near the current date

RevPAR


Hovering over the metric will show you STLY numbers
Definition
RevPAR measures the average revenue you earn for each listing based on all bookable nights, regardless of whether they are booked or not.
RevPAR = Revenue / Total Dates

Important note
  1. Total Dates = Dates that are booked + Dates that are available
  2. Both in numerator (Revenue) and denominator (Total Dates), we are excluding dates from calculation for which we DON'T have booked or blocked information and dates which are unavailable. 
    1. This could be because either your PMS doesn't send this information (Portfolio Analytics is not enabled)
    2. Or could be because it takes maximum 24 hours to refresh the reservation data in our system
  3. RevPAR is only available for listings/PMSs for which Portfolio Analytics is enabled. You can find the list here
  4. STLY RevPAR tells about your RevPAR for the selected days as of same time last year
    1. If today is September 1 2023 (Friday), and you are looking for RevPAR for next 30 days, then STLY RevPAR is RevPAR for next 30 days as of September 2, 2022 (Friday). Note here that we match day of week, because of which STLY date is near the current date

ADR (Average Daily Rate)


Hovering over the metric will show you STLY numbers

Definition
Average Daily Rate (ADR) measures the average revenue earned for the booked nights of your listing.
ADR = Average of bookings

Important note
  1. Eg - If you have 1 booking for 4 nights with total revenue = $400, and 1 booking for 3 nights with total revenue = $1000 in the next 30 days, then ADR is
    1. ($400 + $1000) / (4 + 3) = $200
  2. ADR is only available for listings/PMSs for which Portfolio Analytics is enabled. You can find the list here
  3. STLY ADR tells about your ADR for the selected days as of same time last year
    1. If today is September 1 2023 (Friday), and you are looking for ADR for next 30 days, then STLY ADR is ADR for next 30 days as of September 2, 2022 (Friday). Note here that we match day of week, because of which STLY date is nearby the current date
  4. The ADR indicated here is different from the ADR that you can see in the tooltip from the pricing calendar. The ADR in the performance metrics is based on the selected days while the ADR in the tooltip comes from the the particular booking.

Minimum Price Hitting Dates



Definition
This shows the percentage of available dates when the listing’s rate is set at the minimum price.
Minimum Price Hitting Dates (%) = Available to book dates hitting minimum price / Total Available to book dates

Important note
  1. e.g. - If in the next 30 days, 15 dates are available to book, and 7 are hitting min price, then the metric is 7/15 (=47%)
  2. Available to book dates = Total dates - dates that are booked or blocked

Last Booked Date

This metric tells when your listing received its last booking.

For e.g. - If today is September 1, 2023 and the last booking I received was on August 25, 2023 for stay date in October 10, 2023; then this metric value will be August 25, 2023.

Booking Pickup

This metric shows the number of unique bookings received over the past X days

For eg. - If today is September 1, 2023, and in the last 7 days, I received 1 booking which is 3 nights long (check-in date = October 1, 2023) and another booking that is 2 nights long (check-in date = December 5, 2023); then the value of this metric is 2.

Booking Pickup is only available for listings/PMSs for which Portfolio Analytics is enabled. You can find the list here.

Nights Booked

This metric tells about how many total number of nights you have booked in the last x days. The reservation could be for any time in the future. This metric, thus tell us about how the listing has been performing bookings in the recent times.

For e.g. - If today is September 1, 2023, and in the last 7 days, I received 1 booking which is 3 nights long (check-in date = October 1, 2023) and another booking that is 2 nights long (check-in date = December 5, 2023); then the value of this metric is 5 (3+2).

Nights Booked is only available for listings/PMSs for which Portfolio Analytics is enabled. You can find the list here.
This metric is a division of Recommended Base Price by PriceLabs divided by Base Price of your listing.
Note that this metric will be shown as "unavailable" in case
  1. you don't have a base price recommendation
  2. you are editing base prices in Custom Seasonal Profile
  3. this metric is only available if you have a recommended base price or imported base price
  4. value might be stale, and clicking on Save & Refresh will fetch you updated metrics

Market Penetration Index (MPI)

Definition
Market Penetration Index indicates how well your listing performs compared to the overall market. It shows the relative occupancy of your listing in relation to the average market occupancy.
Market Penetration Index (MPI) = Listing Occupancy / Market Occupancy

Important note
  1. Listing Occupancy = (Number of Dates Booked / Total Dates)
  2. Total dates = dates available excluding owner blocks
    1. Hence the occupancy here is paid occupancy or adjusted occupancy
  3. For some PMSs (streamline, VRBO, airbnb and few others) we don't get owner block information; for these PMSs, the total dates will have blocks counted as bookings
    1. Hence for these PMSs, occupancy will be total occupancy
  4. Also note that while your calendar might show some dates as unavailable, PriceLabs might not get instantly the information about whether these dates are blocks (it takes about 24 hours)
    1. For occupancy calculation, these unavailable dates are considered as bookings and not blocks
  5. Market Occupancy is the occupancy for your neighborhood (if a listing is a 2BR, then 1BR, 2 BR, 3BR is considered as their neighborhood)

Total Occupancy for custom dates (Available only in the Multi Calendar View)

Definition
Total Occupancy for the date range selected in your Multi Calendar. 

  1. You head over to Add Metric button and look for the option from the menu.
  2. Click to select 'Total Occupancy Selected Dates'
  3. Click on Update Changes

Sorting, Filtering and Viewing/Un-viewing Performance Metrics

Sorting
You can sort listings by ascending or descending order based on your preferred metrics using the sort buttons beside the metrics name.



Filters
Listings can now be filtered using the performance metrics. This allows you to view the specific listings you need based on your preferred metrics. You can enable this filter from your Account's Advanced Settings. For more details, check our guide here.



Viewing/Un-viewing
The "Add Column" filter allows you to choose which columns to view or hide on your Pricing Dashboard.


How often do these metrics update? 

We divide these metrics into 2 parts: Listing level and Market level metrics. 
  1. Both Listing Metric and Market Metric refresh and update once every 24 hours. 
  2. Listing level metrics can be manually refreshed and update by clicking on Save and Refresh. It might take a few seconds to update it on the user interface.
  3. Market level metrics can not be manually refreshed/updated.
Info
Performance metrics of listings that has the Sync Prices switch turned off also refresh and update once a day. 

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