Live Let Thrive with Steven Suarez
Summary
This article discusses revenue management strategies for short-term rentals, emphasizing the importance of a structured pricing routine and analyzing booking data. It highlights how hosts can identify underpricing, demand signals, and opportunities to increase revenue through consistent monitoring and adjustments. Additionally, the article covers CEO strategies to avoid being overwhelmed by business operations.
Key Insights
- •The article suggests that early bookings can indicate underpricing or upcoming events.
- •The article emphasizes that 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.
Action Items
- ✓Make small daily price changes to increase exposure on OTAs.Effort: lowImpact: medium
- ✓Review bookings daily to identify pricing and demand signals.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com)
Common Mistakes
- ⚠The article warns against overcorrecting pricing too quickly.
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Curated by Learn STR by GoStudioM