Learning Revenue management Is No Longer Optional for Property Managers, Here’s Why
Summary
Revenue management skills are becoming increasingly crucial for short-term rental property managers. This article highlights the need for structured education in revenue management, suggesting resources like PriceLabs Academy to help hosts understand and adapt to the changing market dynamics, including tighter margins and shorter booking windows. Hosts should consider investing time in learning revenue management to improve pricing logic and protect revenue.
Key Insights
- •Online Travel Agencies (OTAs) are adjusting visibility based on pricing behavior to rank listings.
- •The short-term rental market is entering a new phase with stabilized demand, tighter margins, and shorter booking windows, making revenue management skills more critical.
Action Items
- ✓Consider enrolling in structured revenue management courses, like the free Fundamentals of Revenue Management course offered by PriceLabs Academy, to improve pricing logic.Effort: lowImpact: medium
Tools & Resources
- →PriceLabs Academy: PriceLabs Academy offers a free Fundamentals of Revenue Management course.
Common Mistakes
- ⚠Avoid making reactive pricing choices based on guesswork, and instead implement a weekly revenue rhythm.
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