Revenue Management Strategies for Airbnb Hosts (Ep 588)
Summary
This podcast episode discusses revenue management strategies for short-term rentals, emphasizing the importance of a multi-faceted approach. It highlights that hosts should consider factors beyond just pricing, such as marketing, distribution channels, and the overall guest experience, to improve occupancy and profitability.
Key Insights
- •Revenue management should encompass selling the right product to the right customer at the right time and on the right channel.
- •The first thing that influences a guest's decision is often the image, the dates they are looking for, and location. Price is further down in the consideration funnel.
Action Items
- ✓Ensure your listings are live and bookable, and confirm the availability of dates.Effort: lowImpact: medium
- ✓Review your listing's photos to ensure they highlight the most valuable aspects of your property, such as the natural environment, not just the interior.Effort: lowImpact: medium
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Curated by Learn STR by GoStudioM