EP050: Chris Backe, Established Author and Travel Enthusiast, Talks Airbnb in Thailand
Summary
This article discusses revenue management strategies for short-term rentals, including daily and weekly pricing routines, booking analysis, and the importance of adapting strategies based on market dynamics. Hosts are advised to schedule revenue management, review booking data for pricing signals, and consider how factors like booking windows and last-minute adjustments affect revenue.
Key Insights
- •Reviewing every booking reveals pricing and demand signals.
- •Early bookings can indicate underpricing or upcoming events.
- •Small daily price changes can increase exposure on OTAs.
Action Items
- ✓Schedule revenue management, don't just react to pricing changes.Effort: lowImpact: medium
- ✓Review every booking to learn about pricing signals.Effort: lowImpact: medium
- ✓Make small daily price adjustments to maximize exposure on OTAs.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com)
- →Freewyld Foundry: Get a Free Revenue Review(https://www.freewyldfoundry.com/report)
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