12 KPIs Every Myrtle Beach Vacation Rental Owner Should Track
Posted by: Awayday
In the Myrtle Beach rental business, tracking the right KPIs is essential. From spotting which platforms bring in the most bookings to understanding how your rates stack up seasonally, these metrics really help you work smarter.
Running a successful vacation rental anywhere in the U.S., whether it’s serving ski vacationers in the Rockies, nature lovers in the Smokies, or beachgoers right here in Myrtle Beach, means knowing what’s working and what’s not.
And here’s the deal: focusing only on revenue can be misleading. You might be bringing in solid numbers but missing key details like guest satisfaction, seasonal demand shifts, or how each listing performs across platforms.
That’s where KPIs (Key Performance Indicators) come in.
These performance metrics give you a clearer picture of your rental’s financial health, booking trends, and guest experience. The best property managers in the Grand Strand use them to make smart, data-driven decisions.
In a hurry? Here’s the scoop:
At Luxury Beach Rentals, we’ve spent years managing properties here in Myrtle Beach, so we know what it takes to make them thrive, and we’re happy to share what we’ve learned.
Below, I’ll break down the 12 KPIs that matter most, helping you fine-tune your strategy and set your rental up for long-term success.
Let’s get started. 👇
KPI 1: Total Revenue
🤔 What it Measures: Your Overall Income
In Myrtle Beach’s busy vacation rental scene, your total revenue tells you how much money your property generates over a given time. But remember, this is just the headline number; it doesn’t factor in costs or how individual properties compare.
🧪 Formula
Total Revenue = Average Daily Rate (ADR) × Occupancy Rate × Number of Days
👍 Myrtle Beach Tip
Use this metric to track season-over-season trends, see how your rental performs during peak events like 4th of July or Bike Week, and plan your pricing strategy accordingly.
🔑 Key Takeaway
Total revenue shows your gross earnings. It’s great for seeing the big picture but not enough on its own to measure efficiency or success.
KPI 2: Revenue Per Property
🤔 What it Measures: Unit-Level Performance
This KPI lets you zoom in and understand how well each Myrtle Beach property performs individually. Especially helpful if you manage multiple homes, it highlights which listings are pulling their weight, and which might need attention.
🧪 Formula
Revenue Per Property = Total Rental Income ÷ Number of Properties
👍 Myrtle Beach Tip
Apply this and you’ll quickly identify which properties deserve more marketing, upgrades, or dynamic pricing adjustments.
🔑 Key Takeaway
Revenue per property gives you a clearer picture of individual performance, helping you make smarter, more strategic decisions across your portfolio.
KPI 3: Occupancy Rate
🤔 What it Measures: Booking Frequency
This metric tells you how often your Myrtle Beach rental is booked versus how many nights it’s available. It’s a solid way to gauge demand, but context matters: too high, and you might be underpricing; too low, and you may need to revisit your strategy.
🧪 Formula
Occupancy Rate = (Nights Booked ÷ Nights Available) × 100
👍 Myrtle Beach Tip
Track occupancy during shoulder seasons like early spring or late fall. If you’re booked solid in peak months but lagging elsewhere, consider pricing tweaks or seasonal promos to boost off-season bookings.
🔑 Key Takeaway
A strong occupancy rate signals good demand, but it works best alongside revenue data to tell the full story.
KPI 4: Average Daily Rate (ADR)
🤔 What it Measures: Nightly Earnings
ADR shows how much you’re making per booked night. It’s a powerful metric to see if your pricing is working or working against you. Too low, and you're leaving money on the table. Too high, and you might scare off potential guests.
🧪 Formula
ADR = Total Booking Revenue ÷ Total Nights Booked
👍 Myrtle Beach Tip
Use ADR to compare your performance during peak events like Spring Break or Fall Bike Week. Track how your ADR stacks up against nearby rentals and adjust accordingly using dynamic pricing.
🔑 Key Takeaway
ADR helps you fine-tune pricing. Balanced with occupancy rate, it’s your go-to tool for maximizing nightly revenue without sacrificing bookings.
KPI 5: Revenue Per Available Room (RevPAR)
🤔 What it Measures: Earnings Per Available Night
RevPAR combines your occupancy rate and ADR to show how efficiently your property generates income when it's available. It tells you if your pricing is aligned with demand and how well you're filling your calendar.
🧪 Formula
RevPAR = Gross Rental Revenue ÷ Total Available Nights
👍 Myrtle Beach Tip
Track RevPAR around big events like Carolina Country Music Fest or summer weekends to see if your rates are high enough to match demand. If it’s low, it could be time to adjust your pricing or boost your listing’s visibility.
🔑 Key Takeaway
RevPAR is a quick gut-check for how much income each available night brings in. It helps you see the full picture beyond just occupancy or ADR alone.
KPI 6: Review Ratings
🤔 What it Measures: Guest Satisfaction and Booking Appeal
Review ratings reflect how happy guests are with their stay, and they directly influence your visibility and booking potential on platforms like Airbnb and Vrbo. A steady stream of strong reviews builds trust and drives more clicks.
🧪 Formula
No complex math here, just track your Average Star Rating and total number of reviews across platforms.
👍 Myrtle Beach Tip
Keep an eye on what guests mention in reviews. If they consistently praise your ocean views or criticize your check-in process, that’s your cue. Addressing even small concerns can protect your future revenue, especially during busy seasons.
🔑 Key Takeaway
Your average rating is more than a vanity metric, it shapes your listing’s rank and first impression. Stay responsive, maintain high standards, and turn every stay into a 5-star experience.
KPI 7: Average Length of Stay (ALOS)
🤔 What it Measures: Stay Duration and Operational Efficiency
ALOS shows how long guests typically stay at your Myrtle Beach rental. Longer stays mean fewer turnovers, lower cleaning costs, and steadier income, especially helpful during shoulder seasons or midweeks.
🧪 Formula
ALOS = Total Nights Booked ÷ Total Guest Bookings
👍 Myrtle Beach Tip
Encourage longer bookings with weekly discounts or “stay 7, pay for 6” promotions. This works well for snowbirds, remote workers, and families looking to settle in for a beach week.
🔑 Key Takeaway
Longer stays streamline operations and improve profitability. A healthy ALOS means fewer gaps, fewer cleanings, and more dependable revenue.
KPI 8: Booking Window
🤔 What it Measures: How Far in Advance Guests Book
The booking window tells you how early guests are locking in their Myrtle Beach stay. It helps you time your promotions, adjust pricing, and prep for slow or busy stretches.
🧪 Formula
Booking Window = Total Days Between Booking Date and Check-in ÷ Total Bookings
👍 Myrtle Beach Tip
Track your average window seasonally: spring break and summer often book earlier, while shoulder seasons may need last-minute deals to fill your calendar.
🔑 Key Takeaway
Knowing your booking window helps you market smarter. Early birds may book high-value weeks, while shorter windows signal when to offer flexible stays or discounts.
KPI 9: Net Operating Income (NOI)
🤔 What it Measures: Your Actual Profit
Total revenue is great, but it doesn’t tell the full story. NOI gives you the real picture by showing how much income you keep after covering the basics—like utilities, maintenance, cleaning, and service fees.
🧪 Formula
Net Operating Income = Gross Income – Operating Expenses
👍 Myrtle Beach Tip
Use NOI to evaluate true profitability across different property types—say, an oceanfront condo versus an inland townhouse. If your NOI is slipping, it’s time to revisit expenses or fine-tune your rates.
🔑 Key Takeaway
NOI is your bottom line. It helps you see which properties are truly profitable and where there’s room to cut costs or boost revenue.
KPI 10: Revenue Per Channel
🤔 What it Measures: Your Best Booking Sources
Not all platforms are created equal. Tracking revenue per channel helps you see which booking sites bring the most income, and which cost you more in fees than they’re worth.
🧪 Formula
Revenue Per Channel = Total Revenue from Channel ÷ Number of Bookings from Channel
👍 Myrtle Beach Tip
If Airbnb is bringing volume but cutting into profits with high commissions, consider investing more in direct booking strategies, like SEO, email campaigns, or a better website, to drive revenue where fees are lower.
🔑 Key Takeaway
Knowing which channels work hardest for you helps you prioritize the ones that drive both bookings and profit.
KPI 11: Average Response Time
🤔 What it Measures: Guest Communication Speed
Fast replies make a strong first impression. Average response time tracks how quickly you respond to inquiries, and it’s a big factor on platforms like Airbnb and Vrbo. Slow replies can mean missed bookings and lower visibility.
🧪 Formula
Average Response Time = Total Response Time ÷ Number of Guest Inquiries
👍 Myrtle Beach Tip
Aim to reply within an hour, especially during high season or event weeks like Bike Week or the Carolina Country Music Fest. It shows guests you're attentive and increases your odds of converting lookers into bookers.
🔑 Key Takeaway
Quick responses aren’t just polite; they directly impact bookings, guest trust, and OTA rankings.
KPI 12: Inquiry-to-Booking Rate
🤔 What it Measures: How Well You Convert Interest into Reservations
This KPI tracks how many guest inquiries actually turn into bookings. A strong rate means your listing is appealing, your pricing is on point, and you're responding well to guest questions.
🧪 Formula
Inquiry-to-Booking Rate = (Number of Bookings ÷ Number of Inquiries) × 100
👍 Myrtle Beach Tip
If you're seeing lots of interest but not many bookings, it might be time to revisit your nightly rate, refresh your photos, or tighten up your messaging—especially ahead of busy weeks like July 4th or spring break.
🔑 Key Takeaway
Your inquiry-to-booking rate tells you if you're just getting clicks or actually sealing the deal. Aim high and optimize the full guest journey from first message to confirmed stay.
Vacation Rental Management, the Easy Way
Managing a Myrtle Beach vacation rental can feel like a lot, but it doesn’t have to be. With years of hands-on experience, our team at Luxury Beach Rentals has built smart systems that help keep your property booked, well-maintained, and bring in steady income.
Curious about what your rental could earn? Get a free estimate on our website and discover how working with a local expert can simplify everything.
Posted in Property Management # Property Management Tips
