Leverage Airbnb’s to Create Positive Change in Our Communities
Summary
This article discusses revenue management strategies for short-term rentals, including daily and weekly pricing routines, booking analysis, and the importance of adapting strategies based on market dynamics. Hosts should focus on scheduled revenue management, understanding booking behaviors, and making small, consistent price adjustments. The article also touches on the difference between hotel and Airbnb revenue management.
Key Insights
- •The article highlights the importance of scheduled, not reactive, revenue management in STRs.
- •Weekends require different attention than weekdays.
- •Small daily price changes can increase exposure on OTAs.
- •Reviewing every booking reveals pricing and demand signals.
Action Items
- ✓Review bookings daily to identify trends and adjust pricing accordingly.Effort: lowImpact: medium
- ✓Implement a daily and weekly pricing routine to stay ahead of the market.Effort: mediumImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com/)
Common Mistakes
- ⚠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.
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Curated by Learn STR by GoStudioM