How the Coronavirus Impacts Airbnb Hosts (Part IV)
Summary
This episode of Get Paid For Your Pad focuses on revenue management strategies for short-term rentals, including daily and weekly pricing routines and how to use data from bookings to inform pricing decisions. Hosts can learn how to spot opportunities and avoid common pricing mistakes by understanding booking windows, market penetration, and competitor analysis.
Key Insights
- •Small daily price changes can increase exposure on OTAs.
- •Revenue management must be scheduled, not reactive.
- •Reviewing every booking reveals pricing and demand signals, and early bookings can indicate underpricing or upcoming events.
Action Items
- ✓Review your booking data daily and weekly to understand demand signals, and adjust your prices accordingly.Effort: lowImpact: medium
- ✓Analyze your booking window and pacing to identify pricing opportunities and potential underpricing.Effort: mediumImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com/)
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Curated by Learn STR by GoStudioM