From Host to Hospitality Brand
Summary
This Get Paid For Your Pad episode discusses revenue management strategies for STRs, the importance of CEO focus and decision-making, and the differences between hotel and STR revenue management. Hosts should schedule revenue management routines, recognize CEO bottlenecks, and understand the nuances of STR pricing compared to hotels.
Key Insights
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness and booking window differences.
- •Most STR operators underperform not because they lack tools, but because they don’t know what to look at, when to look at it, or how to interpret booking behavior once it shows up.
- •CEOs waste 30 to 50 percent of their time on low-value activities.
Action Items
- ✓Rethink priorities and identify the true bottlenecks that require CEO-level attention.Effort: mediumImpact: high
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Schedule revenue management, don't be reactive.Effort: lowImpact: 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/)
Common Mistakes
- ⚠Most hosts underperform not because they lack tools, but because they don’t know what to look at, when to look at it, or how to interpret booking behavior.
- ⚠Solving the wrong problems stalls growth even when demand is strong.
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Curated by Learn STR by GoStudioM