Learning lessons from 10 years of entrepreneurship
Summary
This article discusses revenue management strategies for STRs, highlighting the importance of a structured pricing routine, analyzing booking behavior, and making data-driven decisions. Hosts should implement a daily and weekly pricing review process to optimize revenue and stay ahead of market trends.
Key Insights
- •Early bookings can indicate underpricing or upcoming events.
- •Reviewing every booking reveals pricing and demand signals.
- •The biggest revenue mistake most STR operators make isn’t their pricing tool… but the lack of a daily and weekly pricing routine.
Action Items
- ✓Implement a daily and weekly pricing routine.Effort: lowImpact: medium
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com/)
- →Freewyld Foundry Report: Get a Free Revenue Review(https://www.freewyldfoundry.com/report)
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Curated by Learn STR by GoStudioM