EP072: w/ Nedda Toofer and Vik Thairani, co-founders of TINE tag
Summary
This article discusses revenue management strategies for short-term rentals, emphasizing the importance of a structured approach, analyzing booking data, and making informed pricing decisions. Hosts are advised to regularly review their pricing, understand market dynamics, and focus on strategic priorities to optimize revenue.
Key Insights
- •Weekends require different attention than weekdays.
- •Small daily price changes can increase exposure on OTAs.
- •Early bookings can indicate underpricing or upcoming events.
Action Items
- ✓Make small daily price adjustments to increase exposure on OTAs.Effort: lowImpact: medium
- ✓Review every booking to identify pricing and demand signals.Effort: lowImpact: medium
- ✓Spot mistakes in minimum stays and pricing settings.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Get a Free Revenue Review from Freewyld Foundry(https://www.freewyldfoundry.com/report)
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com/)
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Curated by Learn STR by GoStudioM