RevPAB measures revenue generated per available bed in your portfolio over a period. It captures both pricing power (ADR) and occupancy in a single number, which makes it the cleanest cross-property and cross-period KPI for coliving operators.
It is the coliving analogue of hotel RevPAR. The hotel industry has converged around RevPAR as the canonical operator metric for the same reason: per-room pricing and occupancy alone each tell only half the story. RevPAB compresses both into one number you can rank operators, properties, or months by.
For multi-property operators, RevPAB enables clean property-by-property comparisons regardless of size. A 12-bed property at €700 RevPAB and a 60-bed property at €700 RevPAB are operating at the same efficiency on a per-bed basis even though one's gross revenue is 5x the other's.
RevPAB benchmark ranges (Q1 2026, stabilized properties): London £950-1,300, NYC $1,100-1,500, Berlin €650-820, Madrid €520-680, Lisbon €550-720, Austin $650-900, Bangalore ₹15,000-28,000. The cleanest internal use of RevPAB: track it weekly, compare against the prior 4-week trailing average; any deviation >5% triggers a diagnostic check (are we discounting? Did a high-ARPU tenant leave? Are we seeing seasonal dip?). For multi-property operators, RevPAB lets you rank properties on a single dimension regardless of size. The diagnostic chain: RevPAB drops → check ADR (pricing issue) and occupancy (demand issue) separately → if both move together, it's macro/regulatory; if ADR alone drops, it's discounting; if occupancy alone drops, it's marketing or product.
Formula
RevPAB = Total Revenue ÷ (Total Beds × Days in Period)
Worked example: Property: 50 beds, 30-day month, €65,000 total revenue. Available bed-nights = 50 × 30 = 1,500. RevPAB (per bed-night) = €65,000 ÷ 1,500 = €43.33. Monthly RevPAB ≈ €43.33 × 30 = €1,300.
In the field
Habyt reports RevPAB as the headline operator KPI in investor updates. Common's operating reviews are organized around RevPAB by region. Most coliving SaaS PMS dashboards (Hostfully, Coliving.com PMS) include RevPAB as a top-line metric.
Common pitfalls
- ×Confusing RevPAB with ADR — ADR ignores empty beds, RevPAB doesn't.
- ×Reporting RevPAB on revenue gross of platform fees vs. net of fees inconsistently across properties.
- ×Comparing RevPAB across currencies without FX-adjusting — exchange-rate moves can flatter or hide operational changes.
- ×Including ancillary service revenue (cleaning fees, food bundles) in some properties but not others.
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