Most Common Host Questions Answered Part II
Summary
This article is a collection of insights from "Get Paid For Your Pad" podcast episodes. It covers topics from revenue management routines, CEO priorities, the differences between hotel and STR revenue management, and overcoming operational overwhelm. Hosts can learn how to optimize pricing, manage time effectively, and adapt to the unique challenges of the STR market.
Key Insights
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness (every listing is its own 'mini hotel'), booking window differences, 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
- ✓Structure revenue management time with a daily and weekly pricing routine.Effort: mediumImpact: high
- ✓Review bookings daily to identify pricing and demand signals and spot mistakes in minimum stays and pricing settings.Effort: lowImpact: medium
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
- ⚠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.
More from Pricing & Profitability
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Curated by Learn STR by GoStudioM