EP218: This Week in the World of Airbnb
Summary
This article from Get Paid For Your Pad covers various aspects of STR operations, including revenue management, CEO focus, and the differences between hotel and STR revenue management. Hosts should pay attention to revenue management routines, CEO time allocation, and operational strategies to improve profitability.
Key Insights
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness, fragmented demand, and operational constraints.
- •The article emphasizes that 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.
Action Items
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Schedule revenue management, don't just react to market changes.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Freewyld Foundry is mentioned.(https://www.freewyldfoundry.com)
Common Mistakes
- ⚠The article warns that many STR operators make the mistake of focusing on the wrong problems, confusing activity with momentum, and not understanding the real bottlenecks in their business.
More from Pricing & Profitability
A host reported earning $2,300 monthly on Airbnb with almost constant bookings, only to quit due to difficult guests. This highlights the financial potential of STR hosting but also emphasizes the importance of guest screening and managing guest behavior. Balancing profitability with a positive hosting experience is crucial.
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.
Curated by Learn STR by GoStudioM