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How we use the past 365 days to forecast future demand.

At 3 Putt Properties, LLC, we are all about using data to make decisions. When we take over a new property, the very first thing we do is look at the past 365 days relative to the property's competition. By doing this, we can easily see where the property was priced and if it performed well relative to the market.

The figure above shows a property that we manage relative to its competition for the previous 365 days. Green meant that we performed above the market, yellow meant that we performed below the market. There are some details to this data that I won't get into here, but we are extremely happy with this listings performance in 2023 vs 2022.

Using this data, we can predict future demand and set prices accordingly using percentiles and analytics. Dynamic pricing tools often set prices extremely high far out in advance. This is not necessarily a good thing. If you know where a particular date was booked last year, why not set the price similar to that the next year? Using this method, we get bookings far more in advance then our competitors.

Once we have priced out the next 365 days, our process is relatively simple. We know the current market occupancy vs where the occupancy ended last year. This allows us to use data to predict how many bookings are still expected to come in. Knowing this allows us to either hold on price or make an adjustment to ensure we stay booked.

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