šŸ  What KPIs should you pay attention to?

And news on the continued ramifications of the Levelling Up and Regeneration Bill.

Author

Phil Jackson
January 20, 2024

šŸ‘‹ Itā€™s great to welcome over 20 new subscribers to our new newsletter over the last 2 weeks. Welcome to our community and I hope you find our round up of information useful and informative. šŸŽ‰ 

See you next Saturday?

Phil

Founder, My Holiday Guide

IN THE NEWS

Based upon a survey by Statista, the top 4 long term global risks are all environmental. Will this drive a steady increase of staycations over the next few years?

Credit: Statista

ā€œThe average Brit is preparing to take a total of three staycations this year.ā€ according to a survey conducted by Sykes Holiday Cottages.

Holiday let landlords set to benefit from continued demand for staycations

The post-pandemic holiday boom is set to remain in 2024, according to new research from Sykes Holiday Cottages.

www.propertyreporter.co.uk/holiday-let-landlords-set-to-benefit-from-continued-demand-for-staycations.html

Ramifications of The Levelling Up and Regeneration Bill continue to appear.

Council crackdown on empty homes as they demand more powers

Some 260,000 residential properties in England have been empty long term, while there are 70,000 holiday homes in England and Wales, according to official Government data.

www.dailymail.co.uk/news/article-12946321/Empty-homes-council-crackdown-Airbnb-holiday-lets.html

Credit: Office of National Statistics

Burnham Market council wants donations from holiday-let homes

Burnham Market council aims to ask people who rent out holiday homes to contribute to local coffers.

www.bbc.co.uk/news/uk-england-norfolk-67983261

Other interesting news:

LISTING PERFORMANCE & GROWTH
Tips and strategies to enhance the visibility and attractiveness of your holiday let.

This week we take a look at KPIs (Key Performance Indicators). Your listing platform provides you with a bunch of information but which KPIs should you pay most attention to?

Hereā€™s a list of the most commonly recommended KPIs along with some sources of information:

  1. Revenue

  2. Occupancy rate

  3. Average daily rate (ADR)

  4. RevPAR (Revenue Per Available Room)

  5. Average Length of Stay (LOS)

  6. Average Booking Window

  7. Guest Satisfaction Score

The 10 Best Airbnb KPIs to Track as a Vacation Rental Host - Superhog

Key performance indicators also known as KPIs are useful metrics used by hosts and property managers to help measure, monitor and manage their rental propertiesā€™ performance. KPIs can be categorised by revenue, guest experience, operation and marketing metrics. Check out the 10 best Airbnb KPIs to track for your vacation rental property.

superhog.com/airbnb-kpis

How to measure the success of your Vacation Rental Property?

Revenue management implies setting the right prices. We have listed out the vacation rental KPIs to track for a successful pricing strategy.

hello.pricelabs.co/vacation-rental-kpis

FEATURED ARTICLE
Why is Average Booking Window data important?

With there being a general decline in bookings and with the Average Booking Window reducing, this article takes a deeper look into what the ABW is and how you might use the data alongside other KPIs.

Why is Average Booking Window data important?

Learn about Average Booking Window (ABW) as a Key Performance Indicator (KPI) for your holiday let. Assessing ABW alongside factors like occupancy rates and average rates per night provides valuable insights for informed decision-making.

myholidayguide.app/article/why-is-average-booking-window-data-important

SAVINGS
Here's a quick round up of discounts and deals we are aware of from providers to the holiday let industry.

  • Dusk continue to have their January sale using the code JANSALEEMAIL at checkout

  • Dunelmā€™s sales continues with up to 50% off

  • The Original Bed Co are still offering Ā£150 off until the end of January using the code NEWYEAR2024

  • Mitre Linen are offering 20% off everything until the 22nd of January using the code BLUE20???

INTERIOR DESIGN
Interior design inspiration and decor tips.

How to choose a color scheme that flows throughout your entire home, according to color experts

Why is developing a color scheme for your home as a whole so important? We've asked the experts for their take on one of the most

www.homesandgardens.com/interior-design/how-to-choose-a-color-scheme-for-a-whole-home

Best 5 tips for a weekend makeover on your holiday home

Classic Cottages have joined forces with Caudwell & Co Interiors based in the south west, to bring you fresh and practical design inspiration.

www.classic.co.uk/holiday-lets/holiday-letting-blog/interior-design/interior-design-5-quick-tips-for-a-weekend-makeover-on-your-holiday-home.html

PROPERTIES OF THE NEWSLETTER
We all love looking at and getting inspiration from other properties so hereā€™s our top pick for this edition.

Skyros

Lose yourself amidst the magic of the Emerald Isle by escaping to this unique coastal self-catering home at the foothills of Mount Gabriel in Schull. 

www.uniquehomestays.com/self-catering/ireland/county-cork/schull/Skyros

Inside cabin on Sussex flower farm highlighted in Airbnb awards

The owners of an eco-friendly cabin on a flower farm are celebrating winning a prestigious award.

www.theargus.co.uk/news/24005579.sussex-cabin-flower-farm-airbnb-wins-award-best-hosts

Double-Deckerdence

Second floor hot tub, wood burners, firepits, tunnels, ball pits and climbing walls ā€“ this teaser isnā€™t long enough to mention it allā€¦

www.canopyandstars.co.uk/britain/england/lincolnshire/wold-of-your-own/double-deckerdence

JUST FOR FUN

Ridiculous or entrepreneurial?

Airbnb owner lists tents in living room for London tourists ā€“ and charges Ā£68 a night

ā€˜You wonā€™t forget your time in this romantic, memorable place,ā€™ the Airbnb description says

www.independent.co.uk/travel/news-and-advice/airbnb-host-london-tents-living-room-b2476839.html