Insight
Early bookings can indicate underpricing or upcoming events, and consistent routines matter more than any single pricing rule. Weekends require different attention than weekdays.
How the Coronavirus Downturn will Shape and Change Hospitality
Summary
This article discusses revenue management strategies for short-term rentals, emphasizing the importance of scheduled routines, analyzing booking behavior, and understanding market trends to optimize pricing. Hosts should implement daily and weekly pricing reviews and pay attention to factors such as booking windows, minimum stays, and last-minute inventory. The article also touches on CEO-level strategic focus and how STR revenue management differs from hotel revenue management.
Key takeaway