Will Blockchain Revolutionize the STR Industry?
Summary
This article discusses revenue management in short-term rentals, specifically focusing on the importance of daily and weekly pricing routines. It highlights the need for consistent reviews of bookings to identify pricing signals and demand, helping hosts optimize revenue and avoid common pricing mistakes.
Key Insights
- •Early bookings can indicate underpricing or upcoming events.
- •The biggest revenue mistake most STR operators make isn’t their pricing tool… but the lack of a daily and weekly pricing routine.
- •Reviewing every booking reveals pricing and demand signals.
Action Items
- ✓Review bookings daily to understand pricing and demand signals.Effort: lowImpact: medium
- ✓Schedule revenue management, don't react.Effort: lowImpact: medium
Tools & Resources
- →Jasper Ribbers: Follow Jasper Ribbers(https://www.linkedin.com/in/jasperribbers)
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com)
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Curated by Learn STR by GoStudioM