Have you ever wanted to know more about the players in your market? And how you compare? Well, you’re in luck! Transparent have recently added a property manager ranking page to their vacation rental decision platform.
Why is it important to know where you rank?
Knowing your ranking allows you to track your operation against competitors, benchmark your performance and report your ranking and statistics to stakeholders.
This allows you to:
- Look at performance by different stock types or distribution channels
- Visualise and track competitor inventories
- Understand market rates
- Track your relative performance through occupancy
Our ranking dashboard shows the property managers operating within a market. They can be ranked by the number of listings or they can be sorted by the average ADR or the average occupancy.
Property manager websites can also be visited through the page, as in the GIF below.
Look at performance by different stock types or distribution channels
Better than that though, you are able to apply filters to view rankings and statistics across different platforms, bedroom numbers, zipcodes and so on. Check out the GIF below.
If you want to know where you sit in the market or how a particular competitor is performing within a certain zipcode for Airbnb 2 beds, simply select the relevant features, and export any search to explore it further.
Visualise and track competitor inventories
Not only can you understand your competitors’ inventories and how they breakdown, you are also able to visualise these inventories through our supply dashboard.
Here you are able to filter by PM, as well as platform, price, zipcode, review score, bedroom count and many more. In the example screenshot below, we are viewing the stock of 1 PM, and have coloured the listing dot by nightly price. The data is fully downloadable and you can even select individual listings and check them out.
Understand market rates
If it’s pricing you’re interested in, seeing your average daily rate for different stock types or platforms against your market can be hugely useful. You can look beyond the rankings too, into the daily advertised rates of your competitors and the market averages through our calendar view. Being informed about your rate positioning relative to your market, and also current demand, is instrumental in making the proactive changes to optimise your pricing and maximise revenue.
Track your relative performance through occupancy
Comparing your occupancy against the market can be extremely useful as you are able to break the numbers down to see where you are exceeding market performance, and where you stand to make gains.
For example, a property manager A may ask themselves why one of their main competitors averages at 5% higher occupancy. Using different filters to analyse the changes shows that PM A achieves 75% Airbnb occupancy while their main competitor averages only 70%. When we look at HomeAway however, the competitor maintains 70% while our PM A hits just 60%.
Immediately this PM has identified an area for improvement.
Overall, the addition of our ranking dashboard stands to give you an insight into your relative performance within your market, and helps you strategise to maximise your revenue. At Transparent, we are constantly evolving our dashboard product to best equip you to make informed and effective decisions within the opaque vacation rental market. The next update will feature a reviews breakdown for each PM to give even more insight into market performance.
If you want to learn more: