AirDNA MarketMinder rolls out next-level rates tool update
Worldwide: MarketMinder, a data and analytics dashboard developed by vacation rental data provider AirDNA, has launched a major update for short-term rental hosts to amplify their market research and boost their listing performance.
The new Rates tool, now rolled out globally and available to all MarketMinder subscribers, is designed to provide an even more customised experience, allowing users to unlock a true understanding of property performance based on the type and price point of any short-term rental.
Max Bernstein, director of product at AirDNA, said: “Short-term rental professionals know that pricing a listing today is more nuanced than simple high-level filters may reveal. We’re making pro tools accessible to every host, enabling them to perform more nuanced research.
“MarketMinder subscribers are now able to drill down into the essence of listings and reach professional revenue management at the click of a button,” he added.
Smarter filters for more accurate insights
When it comes to competitive benchmarking or optimising average daily rates [ADRs], looking at the number of bedrooms alone is no longer enough. On top of existing filters [number of bedrooms, listing type, and number of guests], the enhanced Rates page now allows MarketMinder users to leverage five additional filters to build more accurate business cases for their listings:
Price tiers [budget, economy, midscale, upscale, luxury]: based on a proprietary classification system, MarketMinder now allows users to narrow their search down to the most relevant properties and gain more insight into the type of guests visiting their market.
Real estate type [apartment / condo / loft, B&B, house / villa, unique stay]: get a clearer picture and more nuanced insights – because a one-bedroom apartment is not the same as a one-bedroom yurt.
Professionally-managed: understand how one’s segment is operating and see how well professionally-managed properties perform overall.
Ratings [from <4.0 to 5.0]: how do ratings impact price points within the market?
Number of bathrooms: complementing the existing number of bedrooms filter, get a more accurate look at listing performance using a key real estate indicator.
With the newly-added option to benchmark as far back as 2017, hosts are also now able to access and export five years of historical ADR data to understand how the short-term rental market has evolved through the years. It will ultimately help hosts and investors to anticipate occupancy trends, set realistic goals, and make more accurate year-over-year business projections for their investments in an industry forecast to earn $63 billion in the United States. alone this year.
More customisations to MarketMinder are set to be unveiled in the coming months to equip short-term rental hosts and investors with professional analytics tools.