Matt Ward on Airbnb, Digital Nomading and Life Hacking
Summary
This article is a collection of podcast episode summaries from Get Paid For Your Pad, covering topics like revenue management, CEO focus in STR businesses, comparing hotel and Airbnb revenue management, and overcoming operational overwhelm. Hosts should pay attention to the key insights on pricing routines, bottlenecks, and the differences between hotel and STR strategies to improve their revenue and operational efficiency.
Key Insights
- •CEOs waste 30 to 50 percent of their time on low-value activities, which becomes more dangerous as STR businesses grow. Action is often confused with momentum.
- •The biggest revenue mistake most STR operators make isn’t their pricing tool… but the lack of a daily and weekly pricing routine.
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness, booking windows, and operational constraints.
Action Items
- ✓Identify the biggest bottlenecks in your STR business.Effort: mediumImpact: high
- ✓Review bookings daily and weekly to reveal pricing and demand signals.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com)
Common Mistakes
- ⚠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.
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Curated by Learn STR by GoStudioM