How to Choose the Right Revenue Manager for STRs
Summary
This article discusses the importance of revenue management in short-term rentals, especially in a more competitive market. It covers different revenue management ownership models (DIY, in-house, outsourced), highlights the need for education and analytical skills, and emphasizes the impact of revenue management on profitability. Hosts should evaluate their current revenue management strategies and consider whether they need to optimize their approach to maximize revenue.
Key Insights
- •Poor revenue management decisions quietly reduce profitability.
- •Margins are shrinking and performance is no longer rising automatically year over year.
- •Ramp-up time often hurts performance when hiring in-house.
Action Items
- ✓Evaluate your current revenue management strategy: Are you managing pricing yourself, considering in-house, or evaluating service providers?Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Get a Free Revenue Review from Freewyld Foundry(https://www.freewyldfoundry.com/report)
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com/)
Common Mistakes
- ⚠Treating revenue management like a side task instead of a core function in your STR business.
More from Pricing & Profitability
Airbnb is offering a $750 incentive for some hosts in Georgia during the FIFA World Cup, potentially boosting occupancy and profitability. This program seeks to capitalize on increased demand from the international event, offering financial benefits to participating hosts. Learn how to qualify and leverage this incentive for your STR.
Las Vegas tourism saw a sharp decline in 2025, experiencing its worst year since the pandemic with a 7.5% drop in visitor arrivals. Hotel occupancy decreased by 3.3 percentage points, and average daily rates fell by 5%. Learn how economic shifts can affect your STR business, and explore strategies to mitigate risk.
Choice Hotels is strategically shedding underperforming properties in the U.S. while expanding internationally. This has resulted in a 2.9% net decrease in U.S. rooms, while globally they saw a 1% increase. This shift reflects a focus on higher-quality properties and potentially higher fees, impacting the competitive landscape for hosts.
Curated by Learn STR by GoStudioM