EP225: Interior Design Tips for Airbnb Hosts
Summary
This article discusses revenue management strategies for short-term rentals, emphasizing the importance of a structured pricing routine. It covers how to analyze booking data, adjust pricing based on demand, and optimize minimum stay rules to increase revenue. Hosts should implement a regular pricing review schedule and utilize booking data to make informed decisions.
Key Insights
- •Small daily price changes can increase exposure on OTAs.
- •Early bookings can indicate underpricing or upcoming events.
- •Weekends require different attention than weekdays when making pricing decisions.
Action Items
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Consider reviewing your pacing on a weekly basis using Market Penetration Index (MPI).Effort: lowImpact: medium
- ✓Spot mistakes in minimum stays and pricing settings.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com/)
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