EP077: How To Share Your Local Recommendation With Your Airbnb Guests
Summary
This article discusses revenue management strategies for short-term rentals, including daily and weekly pricing routines, booking analysis, and the use of Market Penetration Index (MPI). Hosts should focus on scheduled revenue management, analyzing booking data, and making small, consistent price adjustments. Learn how to optimize revenue and avoid common pricing pitfalls.
Key Insights
- •Small daily price changes can increase exposure on OTAs.
- •Early bookings can indicate underpricing or upcoming events, providing crucial signals for price adjustments.
Action Items
- ✓Review every booking to identify pricing and demand signals.Effort: lowImpact: medium
- ✓Review pacing on a weekly basis using Market Penetration Index (MPI).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.
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Curated by Learn STR by GoStudioM