Revenue management, answered

Are my booked rates actually higher than last year, or am I leaving money on the table?

You need to compare booked ADR against last year's booked ADR for the same lead-time window, not just final realized rates. If your forward bookings are pacing ahead on volume but ADR is flat or down, you are almost certainly leaving money on the table.

By Jack Murphy, Head of Revenue Management at UpRev. Running pricing for US vacation rental managers since 2017.

Booked Rate vs. Realized Rate: Know the Difference

Realized ADR tells you what already happened. Booked ADR at equivalent lead times tells you where your pricing strategy stands right now. Pull your current pickup reports and filter by booking window cohorts matching last year's same period. If booked ADR is trailing last year at the same lead time, your rates opened too low or you held discounts too long.

Pace and Occupancy Can Mask Rate Erosion

Strong occupancy pace feels good but can hide a real rate problem. If you are filling up faster than last year, that is often a signal your rates are too aggressive, not that demand is stronger. Check whether your high-demand dates are booking out weeks earlier than last year, because that pattern typically means you surrendered rate you could have held. Slow down your fill rate on premium dates and protect rate integrity until closer to arrival.

The Comparison That Actually Matters

Run a side-by-side of booked revenue by property for the same forward 90-day window compared to last year at this exact point in the calendar. Look at both ADR and total revenue together, since a unit can show higher ADR while generating less total revenue due to gaps. That combined view gives you the clearest read on whether your portfolio is performing or underperforming relative to last year's position.