EP233: This Week in the World of Airbnb

Get Paid For Your Pad
Published: March 9, 2018
Pricing & Profitability

Summary

This 'Get Paid For Your Pad' episode discusses various aspects of short-term rental management, including revenue optimization, CEO strategies for scaling, and the challenges of STR pricing compared to hotels. Hosts can gain insights into revenue management routines, CEO focus areas, and the complexities of STR pricing. Consider reviewing revenue management practices, prioritizing CEO tasks, and understanding STR-specific pricing strategies.

Key Insights

  • CEOs waste 30 to 50 percent of their time on low-value activities, which becomes more dangerous as STR businesses grow.
  • Reviewing every booking reveals pricing and demand signals.
  • STR pricing is dramatically harder than hotel pricing due to product uniqueness, booking window impacts, and operational constraints.

Action Items

  • Review your daily and weekly pricing routine.
    Effort: low
    Impact: medium
  • Identify the biggest bottleneck in your STR business.
    Effort: medium
    Impact: high

Tools & Resources

  • Freewyld Foundry: Get a Free Revenue Review(https://www.freewyldfoundry.com/report)
  • Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com)

Common Mistakes

  • Trying to fix everything at once slows growth.
  • 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.

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Curated by Learn STR by GoStudioM