You can quickly see the performance of each of your listings without having to visit each listing's performance page individually.
From your Dashboard, just click on the carrot button to the right of your listing's name (as shown above) to expand the listing's details.
Current Pricing
If you have multiple listings, this snapshot saves you valuable time. It allows you to quickly view the daily prices over the next 6 months without having to check each listing's calendar individually.
Occupancy
You can see the occupancy rate for your listing as well as the average occupancy rate for your market. This helps you gauge how well your listing is performing compared to the local market.
Understanding the Occupancy Chart
The Occupancy chart provides you with the average rate for each month, allowing you to see how filled up your listing has been over the past year.
Wheelhouse calculates the occupancy rate as the number of booked days divided by the number of bookable days in a month. Therefore, blocked days are ignored.
Understanding the Total Revenue Chart
From your listing's Performance page, you can review how much your listing has earned!
The revenue chart displays the total revenue your listing made each month, with reservations spanning multiple months split accordingly.
Understanding the Average Stay Length Chart
The Length of Stay chart lets you see how long your guests stay at your property each month, providing valuable insights into booking patterns and helping you optimize your pricing strategy.
The Average Length of Stay chart shows how long guests are staying at your property each month. This metric is calculated as the average number of days between check-in and check-out for all reservations within a specific timeframe.
In conjunction with the other performance charts available in Wheelhouse, having longer stays can lead to more revenue and lower cleaning fees.
Understanding the Average Daily Rate Chart
The average daily rate chart shows the average daily rate of booked days in a given month.
While the average daily rate metric is commonly used for revenue management in the hotel industry, short-term rental hosts can gain actionable insights by tracking their listing's performance month by month.
Understanding the Revenue Per Available Night Chart
Revenue Per Available Night (RevPAR) gives you a snapshot of how well your listing is booking and for how much by combining your revenue and occupancy for a given month.
To calculate Revenue Per Available Night (RevPAR), divide the total revenue, including cleaning fees, by the number of bookable nights for each month.
Example
If your listing earned $3,000 last month and you had 25 days available, you would calculate your RevPAR like this:
$3000 / 25 days = $120 per day is your RevPAR.
Understanding the Average Booking Lead Time Chart
The Average Booking Lead Time metric indicates how many days in advance guests are booking your listing.
Lead Time = The average number of days between the booking date and the check-in date for reservations within a specific time frame.
Knowing your average booking lead time can help you fine-tune your pricing strategy.
Long lead times can indicate that your prices are on the lower end, leading guests to book your place quickly.
Short lead times could indicate that your prices are too high, causing guests to wait for the prices to drop before booking.