How to achieve your revenue management goals
Summary
This "Get Paid For Your Pad" episode and its related content discuss revenue management strategies for short-term rentals, including the importance of foundational pricing, market monitoring, and rethinking far-out premiums. Hosts should focus on daily and weekly pricing routines, monitor booking behavior, and be aware of how operational constraints impact pricing.
Key Insights
- •Consistent routines matter more than any single pricing rule.
- •Overuse of far-out premiums may discourage guests from booking in advance.
- •STR pricing is dramatically harder than hotel pricing.
Action Items
- ✓Reevaluate pricing models and consider more moderate premiums to entice guests to book further ahead.Effort: mediumImpact: medium
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Get a Free Revenue Review from Freewyld Foundry(https://www.freewyldfoundry.com/report)
- →Revenue Research: Visit the Revenue Research website.(https://www.revandresearch.com)
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com/)
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Curated by Learn STR by GoStudioM