EP080: Doug Ross of Everbooked Discusses New Market Analysis Tools
Summary
This article discusses revenue management strategies for STRs, including daily and weekly pricing routines, how to analyze booking data and market penetration index (MPI), and how to adjust prices based on demand. Hosts should implement scheduled revenue management practices and consistently analyze their booking data to optimize pricing and maximize revenue. It also gives insights on CEO roles and actions for STRs.
Key Insights
- •Last-minute inventory tells you about demand and visibility.
- •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.
- •Small daily price changes can increase exposure on OTAs.
- •Early bookings can indicate underpricing or upcoming events.
Action Items
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Review pacing on a weekly basis using Market Penetration Index (MPI).Effort: mediumImpact: medium
- ✓Schedule revenue management, not reactive.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com)
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