EP210: How To Manage Multiple Listings with AirGMS
Summary
This article is a collection of insights from the "Get Paid For Your Pad" podcast. It covers topics like revenue management routines, CEO strategies for STR businesses, the differences between hotel and STR revenue management, and how to avoid operational overwhelm, offering hosts valuable advice for improving their STR business.
Key Insights
- •Early bookings can indicate underpricing or upcoming events, and consistent routines matter more than any single pricing rule in revenue management.
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness and operational constraints, like cleaning and minimum stays.
- •Smaller markets like Kansas City, Boston, Seattle, and Philadelphia may outperform larger cities during events like the FIFA World Cup.
Action Items
- ✓Identify and address the biggest bottleneck in your STR business to improve efficiency.Effort: mediumImpact: high
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Prepare for the booking surge and be aware of potential pricing mistakes during events like the FIFA World Cup.Effort: mediumImpact: 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.
- ⚠STR operators stay stuck in the hectic host stage even as they grow.
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