EP024: Airbnb’s Head of Hospitality, Chip Conley, Divulges His Best Advice For Airbnb Hosts
Summary
This article is a compilation of insights from various 'Get Paid For Your Pad' podcast episodes focusing on STR revenue management and operational strategies. Hosts are advised to adopt scheduled revenue management routines, recognize CEO-level tasks, and understand the distinctions between hotel and STR revenue models.
Key Insights
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness and operational constraints, making it crucial to think differently about revenue management.
- •CEOs waste 30 to 50 percent of their time on low-value activities, leading to decision fatigue and hindering business growth.
Action Items
- ✓Identify and focus on CEO-level tasks instead of being busy with low-value activities.Effort: mediumImpact: high
- ✓Review bookings daily to understand pricing and demand signals.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com)
- →Freewyld Foundry: Get a Free Revenue Review from Freewyld Foundry.(https://www.freewyldfoundry.com/report)
Common Mistakes
- ⚠Solving the wrong problems stalls growth even when demand is strong.
- ⚠Most STR operators make the biggest revenue mistake not by their pricing tools, but the lack of a daily and weekly pricing routine.
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Curated by Learn STR by GoStudioM