Direct Bookings Through Powerful and Actionable Marketing Techniques
Summary
This article is a collection of podcast episode summaries from "Get Paid For Your Pad" covering topics from revenue management and CEO strategies to the upcoming FIFA World Cup. Hosts should pay close attention to the revenue management routines, understand how CEO focus impacts their business, and take advantage of any opportunities that may arise from the World Cup.
Key Insights
- •Some cities may see modest lift while others could experience extreme ADR spikes and rapid sellouts due to the FIFA World Cup.
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness, booking windows, and operational constraints.
- •Booking reviews reveal pricing and demand signals.
- •Smaller markets like Kansas City, Boston, Seattle and Philadelphia may outperform larger cities during the FIFA World Cup.
- •Countries such as Germany, Brazil, Spain, England and Argentina drive heavy international travel.
- •Hosts make a pricing mistake when they try to fill early instead of letting demand mature.
- •Booking windows and pacing strategies impact revenue strategy, which differ from hotel practices.
Action Items
- ✓Prepare for the booking surge that will play out over the coming months by reviewing your pricing strategy to maximize revenue during the FIFA World Cup.Effort: mediumImpact: high
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry.(https://www.freewyldfoundry.com)
- →Freewyld Foundry: Get a Free Revenue Review from Freewyld Foundry.(https://www.freewyldfoundry.com/report)
More from Pricing & Profitability
This article discusses Kansas City's high occupancy rates compared to other World Cup host cities, raising questions about the effectiveness of efforts to increase short-term rental availability. It implicitly touches on market trends and the impact of major events on the STR market. The article likely explores whether increased rental supply can meet demand while analyzing the city's approach to STRs.
Realtor.com's report on best mountain towns for Airbnb returns reveals key locations for STR investment. The analysis likely includes data on occupancy rates, ADR, and RevPAR to identify profitable markets. Understanding these trends helps hosts optimize pricing strategies and choose lucrative destinations.
Airbnb is offering a $750 incentive for some hosts in Georgia during the FIFA World Cup, potentially boosting occupancy and profitability. This program seeks to capitalize on increased demand from the international event, offering financial benefits to participating hosts. Learn how to qualify and leverage this incentive for your STR.
Curated by Learn STR by GoStudioM