STR Data Limitations

What Limitations Exist with Short Term Rental (STR) Data? 

STR data is still a relatively new field with reporting still fragmented. Channels, Owners and Managers have limited incentives to share their data and reservations and do not have a required reporting center. 

Channels are focused on publishing enough to be useful to consumers and withholding everything else while making scraper harder. Owners may not want to report all of the rentals or income for tax or legal reasons. Not all managers will want to report either for fear it could be used against them pricing wise or not having enough of a benefit. 

Some of the limitations of STR data are: 

• Data completeness or accuracy: Platforms are constantly changing and it can be difficult to keep up with the latest updates. 

• Intentionally Wrong Information: Some STR owners or managers may choose to withhold information from the platforms, such as their exact location etc 

• Full Market: Not all STRs are listed on these platforms, so the data may not be representative of the entire STR market.

• Reliance of Calculated Data: Turning scraped data into actionable insights requires modeling of bookings and reservations. Not having a healthy amount of source data may lead to inaccurate modeling. 

• Sourced Data Bias: With sourced data, not all managers report leaving gaps in the data. 

• Anonymous Data: Source data is often mixed or blended preventing the ability to go to the property level for analysis. 

Here are some additional tips for using STR scraped data:

• Work with a trusted scraping and aggregation partner. 

• Use multiple sources of data. This will help to ensure that you are getting a complete and accurate picture of the market.

• Be aware of the limitations of each source of data. Not all data is created equal, so it is important to understand the strengths and weaknesses of each source.

• Use data visualization tools to help you understand the data. This will make it easier to identify trends and patterns in the data.

• Consult with an expert. If you are not sure how to use STR scraped data, it is a good idea to consult with an expert. They can help you to interpret the data and to make informed decisions.

Want to learn more? Reach out, and Hungry Robots can discuss data limitations and solutions to help you solve your data goals.