EP212: The Power of Under-Promising and Over-Delivering
Summary
This article is an episode of the Get Paid For Your Pad podcast that discusses various aspects of STR revenue management, CEO focus, and how STR pricing is harder than hotel pricing. Hosts should focus on revenue management routines, recognize CEO bottlenecks, and understand the difference in pricing strategy between hotels and short-term rentals.
Key Insights
- •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.
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness, booking windows, operational constraints, and cancellation policies.
Action Items
- ✓Review bookings daily to reveal pricing and demand signals, and adjust pricing accordingly.Effort: lowImpact: medium
- ✓Identify and address the biggest bottlenecks in your STR business by focusing on CEO-level tasks.Effort: mediumImpact: high
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com)
Common Mistakes
- ⚠Many STR operators get stuck in the hectic host stage by trying to fix chaos with more hires, more tools, or more units, without addressing the root problems.
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Curated by Learn STR by GoStudioM