EP109: Airbnb Open Overview and Exciting Announcements
Summary
This article discusses insights from multiple episodes of the "Get Paid For Your Pad" podcast. It covers topics from Airbnb Open announcements, revenue management strategies, CEO focus for STR businesses, and challenges in STR pricing compared to hotels. Hosts should consider the actionable advice on optimizing revenue, managing their time strategically, and understanding the nuances of pricing in the STR market.
Key Insights
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness, booking window impacts, and operational constraints.
- •Reviewing every booking reveals pricing and demand signals.
- •Being busy does not mean your STR business is progressing.
Action Items
- ✓Implement a daily and weekly pricing routine to stay ahead of the market.Effort: mediumImpact: medium
- ✓Identify the biggest bottlenecks in your STR business by recognizing patterns.Effort: mediumImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry.
- →Hostfully.com: Create a custom digital guidebook for your guests with Hostfully.com.
Watch Out For
- ⚠Most hosts underperform not because they lack tools, but because they don’t know what to look at, when to look at it, or how to interpret booking behavior once it shows up.
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