EP081: With Chistopher and Sally Chilton from Simple Hospitality
Summary
This article from 2016 discusses revenue management strategies for short-term rentals, emphasizing the importance of scheduled pricing routines, analyzing booking data, and understanding market dynamics. Hosts should focus on daily and weekly pricing reviews, paying attention to booking windows, and adjusting strategies based on demand signals.
Key Insights
- •Small daily price changes can increase exposure on OTAs.
- •Early bookings can indicate underpricing or upcoming events, highlighting the importance of monitoring booking windows.
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: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com/)
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