Simon Lehmann Shares His Predictions for the STR Industry in 2020 and Beyond
Summary
This article discusses Simon Lehmann's predictions for the STR industry in 2020 and beyond. It highlights the shift towards professionally managed inventory and changing guest expectations, emphasizing the need for hosts to improve quality to stay competitive and focus on building a sustainable property management business.
Key Insights
- •The STR space will continue to grow and change, with a shift towards more professionally managed inventory.
- •Airbnb has created a new vertical in the existing industry, accelerated supply growth exponentially, and created many entrepreneurs and businesses.
Action Items
- ✓Maximize availability and bookability.Effort: lowImpact: medium
- ✓Consider taking on quality inventory in good locations to grow your business.Effort: mediumImpact: medium
- ✓Spend 2-3 days in each property yourself to understand guest experience and find areas for improvement.Effort: mediumImpact: high
- ✓Improve quality to meet changing guest expectations.Effort: mediumImpact: high
Tools & Resources
- →AJL Consulting: AJL Consulting, a boutique firm with a focus in the private accommodation and STR industry.
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Curated by Learn STR by GoStudioM