Castle on Airbnb? Building a Profitable STR Business in Ohio
Summary
This article discusses building a profitable STR business in Ohio, focusing on market focus, guest experience, and partnership strategies. Hosts can learn how to create unique experiences, manage partnerships, and implement strategies for sustainable growth and premium pricing. The article provides insights into scaling, overcoming market saturation, and maximizing revenue through strategic focus and hospitality.
Key Insights
- •Focusing on one market creates more opportunity than geographic expansion.
- •Properties rated 4.9 or above earn 15% more revenue on average.
- •Host Pros scaled from 2 units to 77 listings in Ohio.
Action Items
- ✓Focus on one market deeply instead of spreading thin across multiple locations.Effort: mediumImpact: medium
- ✓Consider implementing AI tools for personalized guest experiences.Effort: mediumImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry.(https://www.freewyldfoundry.com/)
- →School of Sorcery Castle: School of Sorcery Castle.(https://www.stayatschoolofsorcery.com)
- →Host Pros: Relevant Links: Host Pros.(https://www.hostproscle.com)
More from Growth & Marketing
Airbnb is offering a $750 incentive to attract new hosts to list their properties for the World Cup. This move aims to ensure sufficient accommodation for visitors during the event. This initiative highlights the importance of short-term rentals in accommodating large-scale events and provides a financial benefit for new hosts.
Marriott and Wyndham's adoption of agentic AI is putting pressure on Online Travel Agencies (OTAs), potentially cutting them out of the picture. However, analysts believe these fears are overstated because most hotels are independents. Booking Holdings saw its share price drop 30% due to these concerns. Independent hosts should keep an eye on OTA strategies to stay competitive.
Airbnb is incentivizing new hosts with a $750 bonus ahead of the upcoming World Cup, likely to boost supply during the anticipated surge in demand. This initiative aims to increase the number of available listings. New hosts can capitalize on this program to maximize early revenue.
Curated by Learn STR by GoStudioM