The One Thing

Get Paid For Your Pad
Published: May 27, 2020
Pricing & Profitability

Summary

This Get Paid For Your Pad episode discusses the importance of a structured revenue management routine for STR hosts. It emphasizes that consistent daily and weekly pricing reviews, analyzing booking data, and making small adjustments can significantly improve revenue. Hosts should schedule revenue management and consistently review bookings to reveal pricing and demand signals.

Key Insights

  • •The article highlights that most STR operators underperform not due to a lack of tools, but because they don’t know what to look at, when to look at it, or how to interpret booking behavior.
  • •Early bookings can indicate underpricing or upcoming events, while last-minute inventory reveals demand and visibility.

Action Items

  • ✓
    Schedule revenue management, not just react to it. Consistent daily and weekly pricing routines are crucial.
    Effort: low
    Impact: medium
  • ✓
    Review every booking to reveal pricing and demand signals.
    Effort: low
    Impact: medium
  • ✓
    Make small daily price changes to increase exposure on OTAs.
    Effort: low
    Impact: medium

Tools & Resources

  • →
    Freewyld Foundry: Get a Free Revenue Review from Freewyld Foundry.(https://www.freewyldfoundry.com/report)
  • →
    Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com/)

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