Most Common Host Questions Answered Part I
Summary
This Get Paid For Your Pad episode series covers critical aspects of STR revenue management, CEO focus, and pricing strategies. Hosts can learn how to optimize pricing routines, identify business bottlenecks, and understand key differences between hotel and STR revenue models. Hosts can also get a free revenue review to see how much money their portfolio is leaving on the table.
Key Insights
- •CEOs waste 30 to 50 percent of their time on low-value activities, which can be dangerous as STR businesses grow.
- •Early bookings can indicate underpricing or upcoming events, and consistent routines matter more than any single pricing rule.
- •The episode highlights the importance of having a scheduled revenue management routine rather than a reactive one.
- •STR pricing is dramatically harder than hotel pricing due to factors like product uniqueness and operational constraints.
Action Items
- ✓STR CEOs should re-evaluate their priorities and identify bottlenecks that require their attention rather than being busy with low-value tasks.Effort: mediumImpact: high
- ✓Hosts should schedule regular reviews of bookings to identify pricing and demand signals.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com/)
- →Free Revenue Review: Get a Free Revenue Review(https://www.freewyldfoundry.com/report)
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.
- ⚠CEOs often confuse action with momentum, and solving the wrong problems stalls growth.
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Curated by Learn STR by GoStudioM