EP118: The World of Airbnb – Week 2
Summary
This episode of Get Paid For Your Pad discusses Airbnb's growth and impact on hosts. It also covers insights on revenue management routines, CEO focus, and the differences between hotel and Airbnb revenue management. This information helps hosts optimize their strategies and stay ahead of market trends.
Key Insights
- •Early bookings can indicate underpricing or upcoming events.
- •STR pricing is dramatically harder than hotel pricing, due to product uniqueness and hyper-fragmented demand curves.
Action Items
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Identify the biggest bottleneck in your STR business.Effort: mediumImpact: high
Tools & Resources
- →Freewyld Foundry: Freewyld Foundry provides a free revenue review to find out how much money your portfolio is leaving on the table.(freewyldfoundry.com)
- →Hostfully.com: Hostfully.com can be used to create a custom digital guidebook for guests.(hostfully.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.
More from Pricing & Profitability
This article discusses Kansas City's high occupancy rates compared to other World Cup host cities, raising questions about the effectiveness of efforts to increase short-term rental availability. It implicitly touches on market trends and the impact of major events on the STR market. The article likely explores whether increased rental supply can meet demand while analyzing the city's approach to STRs.
Realtor.com's report on best mountain towns for Airbnb returns reveals key locations for STR investment. The analysis likely includes data on occupancy rates, ADR, and RevPAR to identify profitable markets. Understanding these trends helps hosts optimize pricing strategies and choose lucrative destinations.
Airbnb is offering a $750 incentive for some hosts in Georgia during the FIFA World Cup, potentially boosting occupancy and profitability. This program seeks to capitalize on increased demand from the international event, offering financial benefits to participating hosts. Learn how to qualify and leverage this incentive for your STR.
Curated by Learn STR by GoStudioM