EP216: This Week in the World of Airbnb
Summary
This article from Get Paid For Your Pad discusses key aspects of revenue management, CEO focus, and STR pricing strategies. Hosts can improve profitability by focusing on pricing routines, understanding booking signals, and avoiding common pitfalls in operations and leadership. The article also touches on FIFA World Cup revenue opportunities.
Key Insights
- •The FIFA World Cup group stage schedule release reveals potential for ADR spikes in certain cities, with some cities (like Kansas City, Boston, Seattle, and Philadelphia) potentially outperforming larger cities.
- •Early bookings can indicate underpricing or upcoming events, and consistent routines matter more than any single pricing rule.
- •The article highlights that STR pricing is dramatically harder than hotel pricing due to product uniqueness, booking windows, and operational constraints.
Action Items
- ✓Hosts should prepare for potential booking surges related to the FIFA World Cup, considering cities, matchups, and dates that may drive the strongest ADR lift.Effort: mediumImpact: medium
- ✓Hosts should implement a scheduled revenue management routine, reviewing bookings daily and weekly to identify pricing and demand signals.Effort: mediumImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com/)
Common Mistakes
- ⚠Hosts can make a mistake when trying to fill early rather than letting demand mature during events 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