Key Data Docs

The average rent per guest check-in during a given time period.

Calculation: = Rent / Guest Check-ins

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The total rent revenue from guests, not including taxes or fees.

The total rent revenue from guests, not including taxes or fees.

How we calculate it: The sum of rent for all guest reservations.

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Total number of guest reservations that check-in for a given period.

The total units included in the data set.

Based on the filters you've set, total units will show you the number of active units that makeup the data segment.

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= Nights Sold / Total Bedroom Nights

The percentage of nights booked for guests (Nights Sold), out of the number of nights available per bedroom in a unit to book for guests (Bedroom Nights Available). By comparison, Occupancy Rate, the traditional hospitality KPI, calculates the percentage of Nights Sold out of the Total Nights in the period, without considering the Unavailable Nights. Because owner reservations and hold nights take up some of the nights typically, Available Occupancy is helpful to how well you’ve filled up the properties from the nights that were available for you to fill with guests.

= Nights Sold / Bedroom Nights Available

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The theoretical revenue an owner could have made if they hadn't used their unit.

A powerful KPI to communicate with owners and expand revenue.

How we calculate it: # of Owner Nights in the period multiplied by the booked ADR for that unit for the same period.

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The total number of guest reservations that check-out for a given period.

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Guest Booked Revenue indicates the recognition of revenue at the time a reservation or booking is made, regardless of when the reservation arrives.

The count of guest reservations booked in a given period.

The Total Revenue per Occupied Rental Night

This KPI helps identify the average amount of revenue you make per night from additional fees. We often ask ourselves if we are making enough money from additional fees and if the competitors are charging more than rent. This KPI will help answer these questions.‍

How we calculate: TrevPOR = Total Revenue / Guest Nights

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The Total Revenue Per Available Rental Night

Total Revenue by the amount of Nights Available for a selected time period.

We we calculate it: TrevPAR = Total Revenue / Nights Available

*TrevPAR for hotels typically includes total Revenue for the period included food and beverage and all other revenue.  Because most vacation rentals do not have F&B revenue and concierge revenue is still not widespread, TrevPAR only includes Unit Revenue and Other Revenue over the total nights in a given period.

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The number of owner stays that have a check-in during the stay period.

The Owner Checkins KPI measures the number of owner stays that have a check-in during the period. We pull this number directly from your property management system.

The total number of nights that are unavailable for guests to book.

The Owner Nights + Holds KPI combines the KPIs Owner Nights and Hold Nights. This KPI shows the total number of nights that are unavailable for guests to book. Therefore, this KPI is the opposite of Nights Available.

How we calculate it: Owner Nights + Holds = Owner Nights + Hold Nights

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Definition: The "Nights Available" Key Performance Indicator (KPI) measures the total number of nights that a property or unit is available for occupancy within a specific period. This metric is crucial for businesses in the hospitality and rental sectors, as it directly impacts potential revenue and occupancy rates.

Calculation: To calculate the "Nights Available," you simply count the number of nights each unit is available for booking, excluding any nights when the unit is closed for maintenance, reserved for private use, or otherwise unavailable. The formula can be expressed as:

Nights Available=Total Nights in Period−Nights UnavailableNights Available=Total Nights in Period−Nights Unavailable

Significance: Understanding the number of nights available is essential for revenue management and operational planning. It helps businesses optimize their booking strategies, set appropriate pricing levels, and forecast potential income. Moreover, it provides insights into how effectively the property is being utilized and highlights opportunities to increase availability and, consequently, revenue.

Usage: This KPI is widely utilized by hotel managers, vacation rental owners, and property managers to track and improve the performance of their properties. It serves as a foundational metric for further analysis, such as calculating occupancy rates, revenue per available room (RevPAR), and other related performance indicators.

Example: Consider a vacation rental property with one unit. In a 30-day month, if the unit is reserved for personal use for 5 days and undergoes maintenance for 2 days, the calculation would be as follows:

• Total Nights in Period: 30 days
• Nights Unavailable: 5 (personal use) + 2 (maintenance) = 7 days

Nights Available=30−7=23 nightsNights Available=30−7=23 nights

This indicates that the rental unit is available for booking and potential revenue generation for 23 nights during the month.

Nights that remain open for guest stays, after Nights Unavailable (owners nights, hold nights, block nights) and Nights Sold to guests are subtracted from Total Nights.  

This KPI is useful for quickly determining potential selling opportunities for a given period. After accounting for all owners, hold and block nights, pricing strategies become more manageable as we have a better picture of accurate availability.

Example:

Total Nights = 3,000 (100 available properties on the program x 30 days in the month)
Unavailable Nights = 300 (100 owner nights + 100 hold nights + 100 block nights)
Nights Sold = 1,700 (Nights sold to guests)

Open Nights = Total Nights - Nights Unavailable - Nights Sold
Open Nights (1,000) = Total Nights (3,000) - Nights Unavailable (300) - Nights Sold (1,700)

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The percentage of revenue attained relative to a specified revenue goal.

This metric represents the percentage of revenue achieved in comparison to a determined revenue goal. It is calculated by dividing the actual revenue by the revenue goal and then multiplying by 100. This percentage provides insight into how close the actual revenue is to meeting or exceeding the target.

How we calculate it: % of Unit Revenue to Goal = (Actual Revenue/ Revenue Goal) x 100

Example: If a company sets a revenue goal of $100,000 and achieves an actual revenue of $80,000, the % of Unit Revenue to Goal would be:
(80,000/100,000)×100=80%
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This indicates that the company has achieved 80% of its revenue goal.

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A Unit Revenue Goal is a target for the amount of revenue a company aims to make from each unit sold. It helps in financial planning and performance management to make sure revenue meets or surpasses the set target.

Key Data's Other Revenue (Recognized) KPI is the amount charged to guests for items or fees. This does not include rent, which is classified as Unit Revenue (Recognized), or taxes.

Other Revenue (Recognized) could include items like resort fees, bike rentals, ski rentals, and concierge revenue.

*Recognized Revenue KPIs attribute revenue based upon the Revenue Attribution selection made in Preferences. For example, if you realize revenue upon departure, a stay a 5 days will only show revenue on the 5th day.

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Key Data's Unit Revenue (Recognized) KPI represents rent revenue from Guest Nights. This does not include taxes or Other Revenue (Recognized).

Key Data Calculation: Unit Revenue (Recognized) = Total Revenue (Recognized) – Other Revenue (Recognized) - Taxes

*Recognized Revenue KPIs attribute revenue based upon the Revenue Attribution selection made in Settings. For example, if you realize revenue upon departure, a stay a 5 days will only show revenue on the 5th day.

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The Total Revenue (Nightly) KPI is the total amount charged to guests, excluding taxes. This includes rent (Unit Revenue (Nightly)) and additional fees (Other Revenue (Nightly)).

Key Data Calculation: Total Revenue (Nightly) = Unit Revenue (Nightly) + Other Revenue (Nightly)

*Nightly Revenue KPIs divide the revenue evenly across the length of stay. For example, $500 of revenue from a 5 day stay would attribute $100 to each day of stay.

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Key Data's Other Revenue (Nightly) KPI is the amount charged to guests for items or fees. This does not include rent, which is classified as Unit Revenue (Nightly), or taxes.

Other Revenue (Nightly) could include items like resort fees, bike rentals, ski rentals, and concierge revenue.

Key Data's Unit Revenue (Nightly) KPI represents rent revenue from Guest Nights. This does not include taxes or Other Revenue (Nightly).

Key Data Calculation: Other Revenue (Nightly) = Total Revenue (Nightly) – Unit Revenue (Nightly) - Taxes

*Nightly Revenue KPIs divide the revenue evenly across the length of stay. For example, $500 of revenue from a 5 day stay would attribute $100 to each day of stay.

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Key Data's Unit Revenue (Nightly) KPI represents rent revenue from Guest Nights. This does not include taxes or Other Revenue (Nightly).

Key Data Calculation: Unit Revenue (Nightly) = Total Revenue (Nightly) – Other Revenue (Nightly) - Taxes

*Nightly Revenue KPIs divide the revenue evenly across the length of stay. For example, $500 of revenue from a 5 day stay would attribute $100 to each day of stay.

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Key Data's KPI shows the number of nights unavailable for booking due to a hold (i.e. maintenance). This number is pulled from your property management system.

The total count of nights reserved by Owners and reservations identified as Guest of Owners.  

= Owner nights Reserved + Guest of Owner Nights Reserved

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Total nights reserved by guests for a given period. Also referred to as Properties Sold or Nights Sold.

Total number of guest reservations that check-in for a given period.

The number of guest stays during a given period that cancelled prior to arrival.

Definition: The "Cancelled Nights" Key Performance Indicator (KPI) quantifies the total number of guest nights lost due to cancellations within a specific time frame. This metric is pivotal for businesses in the hospitality sector, such as hotels and vacation rentals, as it provides insight into the frequency of cancellations and their impact on occupancy rates and revenue.

Calculation: The calculation of Cancelled Nights involves summing up all the nights that were booked but later cancelled by guests before their actual stay. It can be represented as:

Cancelled Nights=∑(Number of Nights per Cancellation)Cancelled Nights=∑(Number of Nights per Cancellation)

Significance: Understanding the volume of Cancelled Nights is crucial for revenue management and operational planning. It helps in assessing the effectiveness of cancellation policies, identifying trends or periods with high cancellation rates, and devising strategies to minimize losses, such as overbooking policies or non-refundable booking options.

Usage: This KPI is extensively utilized by hotel managers, rental property owners, and other accommodation providers to make informed decisions regarding booking policies, promotional strategies, and revenue management practices. It also aids in forecasting demand and adjusting pricing strategies accordingly.

Example: If a hotel experiences 10 cancellations in a month, with the length of stay for each cancelled booking varying from 1 to 5 nights, the total Cancelled Nights would be the sum of all nights from each cancelled booking. Assuming the cancelled bookings were for 2, 3, 1, 4, 2, 5, 3, 2, 1, and 3 nights respectively, the total Cancelled Nights for the month would be:

2+3+1+4+2+5+3+2+1+3=26 Cancelled Nights2+3+1+4+2+5+3+2+1+3=26 Cancelled Nights

This indicates that the hotel lost a potential of 26 nights' worth of bookings due to cancellations in that month, highlighting an area for potential revenue improvement through revised cancellation policies or targeted marketing strategies to reduce cancellation rates.

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The percentage of nights occupied by guests and owners out of the Total Nights in the period = (Nights Sold + Owner Nights) / (Total Nights)

The Average Total Stay Value KPI is the average Total Revenue by number of Guest Checkins during a the selected time period. Total Revenue includes fees and rent.

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Average Total Stay Value = Total Revenue / Guest Checkins

The Average Other Stay Value KPI represents the average revenue generated from sources other than accommodation (such as additional services or products) per guest check-in, within a specified time period. This calculation excludes taxes.

Average Other Stay Value = Total Other Revenue / Number of Guest Check-ins.

The Average Stay Value KPI measures the average unit revenue generated per guest check-in within a specific time period. It focuses solely on revenue from room rates and excludes fees and taxes.

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Average Stay Value = Unit Revenue / Guest Checkins

The "Average Cancellation Window" refers to the average period of time between when a cancellation request is made and when the service or reservation was initially scheduled to occur.

It is calculated by determining the average time between the cancellation requests and the scheduled dates of the service or reservation.

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The percentage of nights occupied by guests and owners out of the Total Nights minus hold night in the period.

= (Nights Sold + Owner Nights) / (Total Nights - Hold Nights)

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The percentage of guest stays with check-ins during a given period that canceled prior to arrival. For guest stays with check-ins during the given period.

= Cancelled Nights / (# of Guest Nights + Cancelled Nights)

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The percentage of nights occupied by owners out of the Total Nights.

= (Owner Nights) / (Total Nights)

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The percentage of nights taken up by holds out of the Total Nights.

= (Holds) / (Total Nights)

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Referred to as Adjusted Revenue Per Available “Room” with hotels. Adjusted RevPAR is calculated by multiplying the Adjusted Paid Occupancy % by the ADR.

A critical KPI for measuring revenue performance, Adjusted RevPAR takes into account both the average rate at which you booked the property (ADR) and the number of nights it was booked less owner nights and holds (Adjusted Paid Occupancy).  This provides a better indicator of overall performance when compared to looking at the ADR or the Occupancy alone.

For example, if a property is 80% occupied for paid available nights at a rate of $300 a night the Adjusted RevPAR is $240 (80% Adjusted Paid Occupancy x $300 ADR).  This means that you achieved the equivalent of booking all available nights at $240 (or $87,600 for a full year). If the same property is 100% occupied for paid available nights for $230 a night the Adjusted RevPAR is $230 (or $83,950 for a full year).

Compared to ADR or Occupancy as stand-alone metrics, Adjusted RevPAR provides a more complete measure of your company’s success by giving you an overall picture of both rental revenue and occupancy.  In a single figure, Adjusted RevPAR helps you understand how well your company has filed its properties both in the off-season when demand is low even though rates are also low, and in the high-season when demand is high and rates are also high.

Be mindful that in vacation rentals a 10-bedroom is likely to have a significantly higher ADR and thus Adjusted RevPAR than a 2-bedroom property.  For this reason, be careful to use filters to draw appropriate conclusions when benchmarking Adjusted RevPAR. For example, a comparison of Adjusted RevPAR for 3 bedroom properties in a similar location vs other 3-bedroom properties in the same location may prove more insightful than a benchmarking of total Adjusted RevPAR for a period inclusive of all property types.

*Note the Adjusted Paid Occupancy % KPI used includes Total Available Paid Nights

= Adjusted Paid Occupancy % x ADR (or) Total Unit Revenue / Total Available Paid Nights in a given period

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Definition: Adjusted Paid Occupancy measures the efficiency and profitability of revenue-generating units within a business by calculating the percentage of available units that are occupied and contributing to revenue. This metric is adjusted to account for units that are not available for revenue generation due to various reasons such as maintenance, renovations, or other operational considerations.

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Calculation: The APO is calculated by taking the number of occupied units that generate revenue, adjusting for unavailable units, and then dividing by the total number of units that could potentially generate revenue if they were available. The formula can be expressed as:

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Significance: This KPI is crucial for understanding the true operational efficiency of a business. By adjusting for units that cannot contribute to revenue, businesses can get a more accurate picture of their occupancy performance. It provides insights into how well the company is utilizing its assets and can help in strategic decision-making to improve occupancy rates and overall revenue.

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Usage: Widely used in the hospitality industry, including hotels and resorts, as well as in real estate and rental services. It helps managers and stakeholders assess the effectiveness of their operational strategies and make informed decisions to maximize occupancy and revenue.

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Example: Consider a hotel with 100 rooms, 5 of which are undergoing renovation and not available for guests. During a given period, 80 rooms are occupied. The Adjusted Paid Occupancy would be calculated as follows:

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- Total potential revenue-generating units: 100

- Adjustments for unavailable units: 5 (due to renovations)

- Number of revenue-generating occupied units: 80

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This indicates that, after adjusting for the unavailable rooms, 84.21% of the hotel's potential revenue-generating rooms were occupied during the period.

The Average Length of Stay KPI in Key Data measures the average duration of guest stays within a specific period.

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Calculation of Avg. Length of Stay over a specified period of time = Total Nights Sold / Number Guest Check-Ins

Key Data's KPI Average Booking Window represents the number of days between when the reservation is made by the guest and the check-in date.

Key Data Calculation: (Arrival Date – Booked Date) / Guest Checkins

Adjusted RevPAS (Adjusted Revenue Per Available Sleeping capacity) is a metric that calculates the revenue generated per unit of space available for sleeping per night. It helps in comparing the rental revenue performance across properties, regardless of their different sleeping capacities.

Adjusted RevPAS = Unit Revenue / (Total Available Paid Nights x Sum of Sleeping Occupancy)

Adjusted RevPAR broken down by bedroom is a metric that calculates the revenue earned per bedroom per available paid night, providing insight into the financial performance of each individual bedroom within a unit.
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Adjusted RevPAB= Unit Revenue / (Total Available Paid Nights x Sum of Bedroom Count)

The total amount of money earned from renting out a property, including rent and additional fees, but excluding taxes, calculated via your Revenue Attribution settings.

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Total Revenue (Nightly) = Unit Revenue (Recognized) + Other Revenue (Recognized)

Revenue Per Available Rental Night

Referred to as Revenue Per Available “Room” with hotels. RevPAR is calculated by multiplying the Occupancy by the ADR.

A critical KPI for measuring revenue performance, RevPAR takes into account both the average rate at which you booked the property (ADR) and the number of nights it was booked (Occupancy).  This provides a better indicator of overall performance when compared to looking at the ADR or the Occupancy alone.

For example, if a property is 80% occupied for available nights at a rate of $300 a night the RevPAR is $240 (80% Available Occupancy x $300 ADR).  This means that you achieved the equivalent of booking all available nights at $240 (or $87,600 for a full year). If the same property is 100% occupied for available nights for $230 a night the RevPAR is $230 (or $83,950 for a full year).

Compared to ADR or Occupancy as stand-alone metrics, RevPAR provides a more complete measure of your company’s success by giving you an overall picture of both rental revenue and occupancy.  In a single figure, RevPAR helps you understand how well your company has filed its properties both in the off-season when demand is low even though rates are also low, and in the high-season when demand is high and rates are also high.

Be mindful that in vacation rentals a 10-bedroom is likely to have a significantly higher ADR and thus RevPAR than a 2-bedroom property.  For this reason, be careful to use filters to draw appropriate conclusions when benchmarking RevPAR. For example, a comparison of RevPAR for 3 bedroom properties in a similar location vs other 3-bedroom properties in the same location may prove more insightful than a benchmarking of total RevPAR for a period inclusive of all property types.

*Note the Occupancy KPI used includes Total Nights not Available Nights

= Occupancy x ADR (or) Total Unit Revenue / Total Nights in a given period

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The Calendar Occupancy Percentage indicates the percentage of nights that are occupied by guests, owners, and/or holds out of Total Nights.

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Calendar Occupancy % = (Nights Sold + Owner Nights + Hold Nights) / (Total Nights)

The average rent paid by guests for all Nights Sold in a given period. ADR along with the property's Occupancy are the foundational metrics for a property's financial performance.

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ADR = Total Unit Revenue / Nights Sold