EP069: Staying at Over 60 Airbnbs with Michael and Larissa Milne
Summary
This article is a compilation of insights from various episodes of the "Get Paid For Your Pad" podcast, discussing revenue management strategies, CEO focus in STR businesses, the differences between hotel and Airbnb revenue management, and managing operational overwhelm. Hosts can benefit from these insights by refining their pricing strategies, understanding operational constraints, and focusing on high-impact tasks to improve their STR business performance. Consider implementing daily and weekly pricing routines and evaluating your business bottlenecks to improve.
Key Insights
- •Being busy does not mean your STR business is progressing, and decision fatigue pulls CEOs into low-value tasks.
- •Reviewing every booking reveals pricing and demand signals; early bookings can indicate underpricing or upcoming events.
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness, booking windows, guest behavior, and operational constraints.
Action Items
- ✓Implement daily and weekly pricing routines to stay ahead of the market.Effort: lowImpact: medium
- ✓Identify the biggest bottlenecks in your STR business and focus on addressing them.Effort: mediumImpact: high
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com)
- →Freewyld Foundry Report: Get a Free Revenue Review(https://www.freewyldfoundry.com/report)
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Curated by Learn STR by GoStudioM