EP057: When your Guest Has to Spend a Night in the Drunk Tank
Summary
This article is a compilation of podcast episodes discussing various aspects of STR revenue management, CEO focus, and pricing strategies. Hosts can learn how to create pricing routines, understand market signals, and prioritize tasks effectively to improve revenue and operational efficiency.
Key Insights
- •Last-minute inventory tells you about demand and visibility.
- •Early bookings can indicate underpricing or upcoming events.
- •Small daily price changes can increase exposure on OTAs.
- •Weekends require different attention than weekdays in pricing.
Action Items
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Schedule revenue management, don’t be reactive.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.
More from Pricing & Profitability
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This article discusses Kansas City's high occupancy rates compared to other World Cup host cities, raising questions about the effectiveness of efforts to increase short-term rental availability. It implicitly touches on market trends and the impact of major events on the STR market. The article likely explores whether increased rental supply can meet demand while analyzing the city's approach to STRs.
Realtor.com's report on best mountain towns for Airbnb returns reveals key locations for STR investment. The analysis likely includes data on occupancy rates, ADR, and RevPAR to identify profitable markets. Understanding these trends helps hosts optimize pricing strategies and choose lucrative destinations.
Curated by Learn STR by GoStudioM