What I learned from 350 GPFYP podcasts
Summary
This article summarizes key lessons learned from 350+ episodes of the "Get Paid For Your Pad" podcast. It emphasizes the importance of focusing on guest experience, automating operations, and building direct booking channels. Also included are summaries of specific episodes on revenue management, CEO strategies, hotel vs. STR pricing and host overwhelm.
Key Insights
- •The article emphasizes that the guest experience is more important than location, size, or number of rooms when it comes to pricing.
- •It's possible to automate many aspects of your STR business, freeing up your time (e.g., messaging, pricing, task management, self-check-ins).
- •Building your own marketing channels such as email collection, social media, and a direct booking website is a good long-term investment.
Action Items
- ✓Consider implementing a daily and weekly pricing routine for revenue management.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Freewyld Foundry provides revenue review services.(freewyldfoundry.com/)
- →Get Paid For Your Pad Tools: Go to https://getpaidforyourpad.com/airbnb-tools/ to find the best tools.(getpaidforyourpad.com/airbnb-tools/)
Common Mistakes
- ⚠Many STR operators make mistakes when it comes to their pricing tool, but the biggest revenue mistake is a lack of daily and weekly pricing routine.
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Curated by Learn STR by GoStudioM