Freewyld Updates: Investigating the Tiny Home Concept for the Freewyld Brand
Summary
This article discusses the challenges faced by the Freewyld brand in building a cabin community, including construction delays and potential solutions using tiny homes. It also delves into revenue management and strategic focus for STR CEOs. Hosts should consider the insights on revenue management routines and CEO responsibilities to improve their business operations.
Key Insights
- •The article suggests 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.
- •The article highlights the impact of a boom of people moving into mountain areas, which has caused significant delays in construction projects, specifically affecting the Freewyld project's timeline.
- •The article emphasizes the importance of scheduled revenue management, explaining why consistent routines and regular reviews of bookings are vital for staying ahead of market trends.
Action Items
- ✓Hosts should implement a daily and weekly pricing routine, reviewing bookings and market trends to optimize revenue.Effort: mediumImpact: medium
- ✓Identify bottlenecks in your business and delegate or address them as a CEO.Effort: mediumImpact: medium
Tools & Resources
- →Freewyld Foundry: Freewyld Foundry provides resources for revenue review.
- →Get Paid For Your Pad: Get Paid for Your Pad is a podcast.
Watch Out For
- ⚠Relying on reactive revenue management rather than scheduled routines can lead to underperformance.
- ⚠CEOs often spend too much time on low-value tasks, hindering business progress.
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