Takeaways from the VRMA
Summary
This article summarizes key takeaways from Get Paid For Your Pad episodes on revenue management, STR CEO focus, and pricing strategies. Hosts can learn about the importance of scheduled revenue management, identifying business bottlenecks, and understanding the differences between hotel and STR pricing.
Key Insights
- •Early bookings can indicate underpricing or upcoming events, and consistent routines matter more than any single pricing rule.
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness, booking windows, and operational constraints.
- •The article highlights the importance of scheduled, not reactive, revenue management in STRs.
Action Items
- ✓Schedule revenue management and create a daily/weekly pricing routine.Effort: mediumImpact: high
- ✓Review bookings to identify 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)
Common Mistakes
- ⚠Many 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.
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Curated by Learn STR by GoStudioM