EP068: Airbnb Hosting in New York with Seth Porges
Summary
This article discusses revenue management strategies for short-term rentals, emphasizing the importance of a structured pricing routine and analyzing booking data. Hosts can improve profitability by scheduling revenue management, reviewing bookings, and making small, consistent price changes. It also explores strategic CEO focus and the challenges of the "hectic host" stage.
Key Insights
- •STR pricing is dramatically harder than hotel pricing.
- •Reviewing every booking reveals pricing and demand signals.
- •How decision fatigue pulls CEOs into low-value tasks.
- •CEOs waste 30 to 50 percent of their time on low-value activities.
- •Being busy does not mean your STR business is progressing.
- •Revenue management must be scheduled, not reactive.
- •Small daily price changes can increase exposure on OTAs.
- •STR rate drops must be deeper near arrival.
- •Product uniqueness turns every listing into its own "mini hotel".
Action Items
- ✓Review bookings to identify pricing signals and adjust strategies.Effort: lowImpact: medium
- ✓Schedule revenue management and create a daily/weekly pricing routine.Effort: lowImpact: medium
- ✓Prioritize CEO tasks to address bottlenecks and high-ROI activities.Effort: mediumImpact: high
Tools & Resources
- →Freewyld Foundry: Get a Free Revenue Review.(https://www.freewyldfoundry.com/report)
- →Freewyld Foundry: Learn more about Freewyld Foundry.(https://www.freewyldfoundry.com)
Common Mistakes
- ⚠Trying to fix everything at once slows growth.
- ⚠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.
More from Pricing & Profitability
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Curated by Learn STR by GoStudioM