EP002 – Pictures, Competitive Airbnb Regions, and Interview w/ Allie Rapp
Summary
This article is a transcript from a "Get Paid For Your Pad" podcast discussing revenue management strategies. It stresses the importance of scheduling revenue management, reviewing bookings to identify pricing signals, and understanding the differences between hotel and STR pricing.
Key Insights
- •Early bookings can indicate underpricing or upcoming events.
- •Weekends require different attention than weekdays when making pricing adjustments.
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness and operational constraints like cleaning and minimum stays.
Action Items
- ✓Review bookings regularly to identify pricing signals and demand trends.Effort: lowImpact: medium
- ✓Make small daily price changes to increase exposure on OTAs.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com/)
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Curated by Learn STR by GoStudioM