EP108: Building your Airbnb Brand with Airbnb Expert Susan Douglas
Summary
This article discusses revenue management strategies for STRs, emphasizing the importance of scheduled pricing routines, analyzing booking data, and understanding booking windows. Hosts should focus on daily and weekly pricing reviews, considering booking behavior and market trends to optimize revenue. The article also touches on CEO strategies, and comparing STR to Hotel pricing.
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.
- •Last-minute inventory tells you about demand and visibility.
Action Items
- ✓Review bookings daily to understand pricing and demand signals.Effort: lowImpact: medium
- ✓Review pacing weekly 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