EP001 – Overcoming Hosting Fear, Leaving Review Responses, and Interview w/ Kris Hawkins, Airbnb host in Calgary
Summary
This compilation of "Get Paid For Your Pad" podcast episodes discusses various STR management aspects, including revenue management routines, CEO focus for scaling, differences between hotel and STR revenue management, and overcoming overwhelm. Hosts should review their pricing strategies, understand market dynamics, and focus on strategic priorities to optimize their business.
Key Insights
- •CEOs waste 30 to 50 percent of their time on low-value activities, which becomes more dangerous as STR businesses grow.
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness, booking windows, and operational constraints.
- •Early bookings can indicate underpricing or upcoming events, and consistent routines matter more than any single pricing rule in revenue management.
Action Items
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Rethink priorities and recognize patterns inside your business to identify bottlenecks.Effort: mediumImpact: high
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com/)
Common Mistakes
- ⚠Most STR operators 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.
More from Pricing & Profitability
This article discusses Kansas City's high occupancy rates compared to other World Cup host cities, raising questions about the effectiveness of efforts to increase short-term rental availability. It implicitly touches on market trends and the impact of major events on the STR market. The article likely explores whether increased rental supply can meet demand while analyzing the city's approach to STRs.
Realtor.com's report on best mountain towns for Airbnb returns reveals key locations for STR investment. The analysis likely includes data on occupancy rates, ADR, and RevPAR to identify profitable markets. Understanding these trends helps hosts optimize pricing strategies and choose lucrative destinations.
Airbnb is offering a $750 incentive for some hosts in Georgia during the FIFA World Cup, potentially boosting occupancy and profitability. This program seeks to capitalize on increased demand from the international event, offering financial benefits to participating hosts. Learn how to qualify and leverage this incentive for your STR.
Curated by Learn STR by GoStudioM