EP095: Recent Airbnb updates and developments with John Bower
Summary
This article discusses revenue management strategies for short-term rentals, comparing them to hotel practices, and provides insights on how to optimize pricing and booking strategies. Hosts can benefit from understanding booking windows, the importance of daily pricing routines, and recognizing how operational constraints and competition impact revenue.
Key Insights
- •Booking windows shape revenue strategy in ways hotels never deal with.
- •STR rate drops must be deeper near arrival.
- •STR pricing is dramatically harder than hotel pricing, due to product uniqueness that turns every listing into its own “mini hotel.”
Action Items
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry →(https://www.freewyldfoundry.com)
Common Mistakes
- ⚠Hosts who try to rely on last-minute demand, as hotels do, will fail in STRs.
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Curated by Learn STR by GoStudioM