EP209: This Week in the World of Airbnb
Summary
This article from Get Paid For Your Pad discusses revenue management routines, CEO strategies, and how STR pricing differs from hotels, with a focus on the FIFA World Cup. Hosts should review these topics to optimize pricing, manage operations, and prepare for potential demand surges.
Key Insights
- •The FIFA World Cup could cause major ADR spikes in some cities and rapid sellouts. Some cities might experience modest lift while others experience extreme ADR spikes and rapid sellouts.
- •Booking reviews can reveal pricing and demand signals. Early bookings can indicate underpricing or upcoming events.
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness, booking windows, guest behavior, and operational constraints.
Action Items
- ✓Consider how the FIFA World Cup schedule could impact demand in your area. Research host cities and match-ups.Effort: mediumImpact: high
- ✓Evaluate minimum stay rules and calendar settings in order to avoid mistakes in pricing.Effort: lowImpact: medium
- ✓Review your daily pricing to recognize booking trends and adjust pricing accordingly.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com)
- →Freewyld Foundry: Get a Free Revenue Review(https://www.freewyldfoundry.com/report)
Common Mistakes
- ⚠Many hosts underperform because they don’t know what to look at, when to look at it, or how to interpret booking behavior.
- ⚠Hosts often underprice their listings during high demand periods, such as the FIFA World Cup.
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