EP011: Real Estate in Las Vegas with Deven Chase
Summary
This article discusses revenue management strategies for short-term rentals, specifically focusing on how to establish daily and weekly pricing routines and how to recognize and react to booking signals. It emphasizes that consistent routines and interpreting booking behavior are crucial for hosts, not just having pricing tools. Hosts should review their booking data to spot underpricing, missed opportunities, and misconfigured rules.
Key Insights
- •Early bookings can indicate underpricing or upcoming events.
- •Revenue management must be scheduled, not reactive.
- •Reviewing every booking reveals pricing and demand signals.
Action Items
- ✓Spot mistakes in minimum stays and pricing settings.Effort: lowImpact: medium
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com/)
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