To find Airbnb occupancy rates, you can follow these steps:
1. Analyse your Booking Calendar: log in to your Airbnb host account and access your booking calendar. Review the bookings for a specific period, such as a month or a year, and note down the number of nights your property was booked.
2. Calculate Total Nights Available: determine the total number of nights available for booking during the same period. This can be calculated by subtracting blocked-off dates, such as those marked as unavailable or blocked by you, from the total number of nights in that period.
3. Finally, calculate Occupancy Rate: use the formula mentioned earlier in the article to calculate the occupancy rate by dividing the number of nights booked by the total nights available and multiplying by 100.
To predict the occupancy rate on Airbnb there are a few options worth considering:
1. External Forecasting Tools: this is the first suggestion because it can solve “everything everywhere all at once” with its advanced algorithms and market data to predict occupancy rates. These tools can provide more accurate predictions by considering factors such as local events, market conditions, and historical data. Amenitiz PriceAdvisor is a tool included in an Amenitiz subscription in a freemium version, with an advanced version available if you wish to update. Both allow you to compare your prices with competitors, calculate the best prices based on your past data and aplenty more besides.
2. Historical Data Analysis: analyse your past booking records to identify patterns and trends in occupancy rates. Look for any seasonality, such as peak booking periods or low-demand periods. This historical data can offer valuable insights and help you predict future occupancy rates.
3. Market Research: this is a strategy that you should be employing to attract guests all the time. Stay informed about local events, festivals, conferences, and other activities that attract guests to your area. Research tourism trends and factors that may influence demand for accommodations. This information can help you predict periods of high or low occupancy rates.
4. Competitive Analysis: spying on others’ behaviour (not copying, which is very different) within your market segment is key for every kind of business. Monitor the performance and occupancy rates of similar Airbnb listings in your area. Analyse their pricing, reviews, and availability patterns to understand how they attract guests. This data can guide your predictions about occupancy rates based on the performance of comparable listings.
5. Airbnb Analytics Tools: Airbnb provides hosts with various analytical tools and dashboards to track their listings’ performances. Explore these features to gain insights into booking patterns, demand trends, and market dynamics specific to your property.
While these strategies can help you predict occupancy rates it’s important to keep in mind that they are by no means foolproof. Many factors can influence demand and occupancy, so it’s essential to continuously monitor and adapt your strategies based on market dynamics and guest preferences.
