More Listings, Higher Profits
Summary
This article discusses revenue management strategies for short-term rentals, focusing on the importance of building a brand, implementing daily and weekly pricing routines, and understanding the differences between hotel and Airbnb revenue management. Hosts should prioritize consistent pricing reviews and understand booking signals to optimize revenue and avoid common pricing mistakes.
Key Insights
- •Early bookings can indicate underpricing or upcoming events.
- •STR rate drops must be deeper near arrival compared to hotel markets.
- •Focusing on scalability alone won’t help your business, better listings and branding are key to scaling an Airbnb business.
- •Last-minute inventory tells you about demand and visibility.
Action Items
- ✓Make small daily price changes to increase exposure on OTAs.Effort: lowImpact: medium
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
Tools & Resources
- →STR Legends Mastermind: STR Legends Mastermind
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com/)
- →Legends X STR Accelerator: Legends X STR Accelerator
Common Mistakes
- ⚠Underperforming because of a lack of a daily and weekly pricing routine.
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Curated by Learn STR by GoStudioM