Freewyld Updates & Learning Lessons
Summary
This article discusses insights from the Get Paid For Your Pad podcast episodes covering topics like revenue management, CEO strategies for STR businesses, and comparisons between hotel and Airbnb revenue models. Hosts can learn about pricing strategies, identifying bottlenecks, and the shift in focus needed for scaling their businesses.
Key Insights
- •Being busy does not mean an STR business is progressing, and decision fatigue pulls CEOs into low-value tasks.
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness, booking windows, and operational constraints.
Action Items
- ✓Recognize patterns within your business and identify true bottlenecks that require CEO-level attention rather than just activity.Effort: mediumImpact: high
- ✓Review bookings daily to reveal 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)
- →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.
- ⚠Trying to fix everything at once slows growth.
More from Pricing & Profitability
This article discusses Kansas City's high occupancy rates compared to other World Cup host cities, raising questions about the effectiveness of efforts to increase short-term rental availability. It implicitly touches on market trends and the impact of major events on the STR market. The article likely explores whether increased rental supply can meet demand while analyzing the city's approach to STRs.
Realtor.com's report on best mountain towns for Airbnb returns reveals key locations for STR investment. The analysis likely includes data on occupancy rates, ADR, and RevPAR to identify profitable markets. Understanding these trends helps hosts optimize pricing strategies and choose lucrative destinations.
Airbnb is offering a $750 incentive for some hosts in Georgia during the FIFA World Cup, potentially boosting occupancy and profitability. This program seeks to capitalize on increased demand from the international event, offering financial benefits to participating hosts. Learn how to qualify and leverage this incentive for your STR.
Curated by Learn STR by GoStudioM