EP165: Airbnb & Lifestyle Tips from The Suitcase Entrepreneur
Summary
This article discusses revenue management strategies for STRs, highlighting the differences between hotel and Airbnb revenue management. It emphasizes the importance of scheduled revenue management, booking reviews, and understanding market trends for optimizing pricing and profitability in the STR market.
Key Insights
- •Early bookings can indicate underpricing or upcoming events, requiring hosts to adjust prices accordingly.
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness, booking windows, and operational constraints.
- •STR rate drops must be deeper near arrival compared to hotels.
Action Items
- ✓Review every booking to identify pricing and demand signals.Effort: lowImpact: medium
- ✓Schedule revenue management, don't just react to market changes.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: The article mentions Freewyld Foundry.(https://www.freewyldfoundry.com/)
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Curated by Learn STR by GoStudioM