Vacation Rental Profitability Spreadsheet Free Excel Template for 2026

How to use the template

1. Update property and channel assumptions

Begin on the Assumptions sheet. Replace the sample property records with your property IDs, names, markets, states, active status, bedroom counts, maximum guests, and annual blocked nights. Enter the applicable lodging tax, taxable fee share, processing fee, management fee, occupancy target, operating margin target, labor cost target, and minimum nightly rate.

Review the booking channel list and commission rates as well. These values support calculations on the Reservations sheet. Treat all tax and fee settings as planning assumptions and verify them against current agreements and local requirements.

2. Record each reservation

Use one row per booking on the Reservations sheet. Enter the reservation ID, property, guest, booking channel, booking date, stay dates, guest counts, status, room revenue, guest fees, discounts, refunds, amount paid, confirmation number, and notes.

Formula cells calculate nights, taxable guest charges, lodging tax collected, gross booking revenue, channel commission, payment processing fee, management fee, net rental revenue, balance due, and payment status. Built-in checks flag missing or invalid dates, possible booking overlaps, missing reservation details, balances requiring review, and inquiry or tentative statuses.

3. Enter property expenses

Add one row per cost on the Expenses sheet. Record the date, property, vendor, category, expense type, payment method, reference number, description, quantity, unit cost, sales tax, tip, labor hours, labor cost, status, receipt availability, and notes.

The sheet calculates subtotal and total expense, then assigns the amount to either operating or capital expense based on the selected type. Use the Shared Portfolio property value for costs that are not assigned to one rental. Review flags identify a missing vendor, missing category, high expense, or missing receipt under the workbook's configured assumptions.

4. Review the dashboard

Select a reporting year from 2024 through 2028 and choose All Properties or one of the listed properties. The Dashboard summarizes revenue, expenses, and operating profit for the selection.

• Check annual performance metrics and operating margin.
• Review monthly revenue, expense, profit, booked-night, occupancy, and average daily rate results.
• Compare occupancy, operating margin, labor cost percentage, and minimum cash buffer with their targets.
• Investigate the displayed reservation alerts before relying on the report.

What does the vacation rental profitability spreadsheet calculate?

The Dashboard reports gross booking revenue, net rental revenue, operating expenses, operating profit, operating margin, booked nights, available nights, occupancy, average daily rate, revenue per available night, labor cost percentage, and average profit per reservation.

Monthly rows show gross and net rental revenue, operating expenses, operating profit, booked nights, available nights, occupancy, and average daily rate. The workbook also provides a target comparison area and monthly occupancy-versus-target data. One chart compares monthly net rental revenue, operating expenses, and operating profit; the other compares actual occupancy with the occupancy target.

How are booking revenue and net rental revenue calculated?

The Reservations sheet starts with nightly room revenue, cleaning fees, pet fees, other guest fees, discounts, and refunds. Formulas use the selected property's assumptions to calculate taxable guest charges and lodging tax collected.

Gross booking revenue includes room revenue and guest fees after discounts. Net rental revenue then accounts for refunds, channel commission, payment processing fees, and management fees. The dashboard includes qualifying reservation statuses in its reporting formulas and assigns revenue to the check-out month, not the booking or check-in month.

How does the workbook measure occupancy?

Booked nights are calculated from reservation check-in and check-out dates. Available nights are based on the reporting period, active property status, annual owner-blocked nights, and annual maintenance-blocked nights entered on the Assumptions sheet.

Occupancy compares booked nights with available nights. The Dashboard provides annual and monthly views, while the target section compares actual occupancy with the property assumptions. Accurate dates, active-property settings, and blocked-night entries are important for a useful occupancy comparison.

Which vacation rental expenses can be recorded?

The Expenses sheet supports vendor, category, expense type, payment method, reference number, description, quantity, unit cost, sales tax, tip, labor hours, and labor cost. It also records payment status, whether a receipt is available, and internal notes.

Calculated fields provide subtotal, total expense, operating expense amount, and capital expense amount. Dashboard operating expense reporting uses expenses classified as Operating and marked Paid. Capital expenses remain visible on the expense register but are kept separate from the operating expense amount used in profitability reporting.