Recap of the 2nd Legends X Class
Summary
This article recaps several episodes of "Get Paid For Your Pad" that cover revenue management, CEO focus in STR businesses, the differences between hotel and STR revenue management, and the hectic host stage. Hosts can learn how to optimize pricing routines, identify business bottlenecks, and adapt their strategies based on booking windows and market volatility.
Key Insights
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness, fragmented demand, and operational constraints.
- •The article highlights that 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.
Action Items
- ✓STR CEOs should focus on strategic priorities and recognize business bottlenecks, allocating their time to high-ROI activities.Effort: mediumImpact: high
- ✓Review bookings regularly to identify pricing and demand signals and spot mistakes in minimum stays and pricing settings.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Get a Free Revenue Review from Freewyld Foundry.(https://www.freewyldfoundry.com/report)
Common Mistakes
- ⚠STR CEOs who stay busy all day on low-value activities are at risk of not scaling their business.
- ⚠Making reactive pricing decisions based on a lack of a daily and weekly pricing routine.
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Curated by Learn STR by GoStudioM