What we learned at the STR Legends Mastermind
Summary
This episode of Get Paid For Your Pad discusses revenue management routines and CEO strategies for STR businesses. Hosts can learn how to create daily and weekly pricing workflows, identify bottlenecks, and make strategic decisions for growth. Also discussed is how revenue management is far more complex than in the hotel industry.
Key Insights
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness (every listing is a mini-hotel), booking window impacts, and operational constraints.
- •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
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Schedule revenue management, don’t just react.Effort: lowImpact: medium
- ✓Identify the biggest bottlenecks in your STR business to improve CEO focus.Effort: mediumImpact: high
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
- ⚠Trying to fix everything at once can slow growth.
- ⚠Underperforming because of a lack of a pricing routine.
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Curated by Learn STR by GoStudioM