EP058: Airbnb Hosting in Oxford with Victoria Folk
Summary
This article discusses revenue management strategies for short-term rentals, emphasizing the importance of daily and weekly pricing routines. It highlights the differences between hotel and STR revenue management, emphasizing booking windows and operational constraints. Hosts should review booking data regularly to optimize pricing and understand market demand.
Key Insights
- •Early bookings can indicate underpricing or upcoming events, and last-minute inventory reveals demand and visibility.
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness, booking windows, and operational constraints.
Action Items
- ✓Review bookings daily to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Consider small daily price changes to increase exposure on OTAs.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry.(https://www.freewyldfoundry.com)
Common Mistakes
- ⚠Most STR operators 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.
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Curated by Learn STR by GoStudioM