EP047: Airbnb Hosting in Miami with Calixto Navarro
Summary
This article discusses revenue management strategies for STRs, emphasizing the need for scheduled pricing routines and understanding booking behaviors. It highlights the differences between hotel and STR revenue management, emphasizing the unique challenges of STR pricing. Hosts should analyze booking data, adjust pricing accordingly, and consider operational constraints to maximize revenue.
Key Insights
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness, booking windows, guest behavior, and operational constraints.
- •Small daily price changes can increase exposure on OTAs.
- •Booking windows shape revenue strategy in ways hotels never deal with.
Action Items
- ✓Schedule revenue management, don't be reactive.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)
Common Mistakes
- ⚠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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Curated by Learn STR by GoStudioM