6 Ways Airbnb Hosts Are Leaving Thousands on the Table—But What You Can Do to Fix It
Summary
This article outlines six strategies for Airbnb hosts to increase revenue, focusing on selling experience packages, sourcing furniture at wholesale prices, upselling extra nights, partnering with local businesses, making properties shoppable, and charging pet fees. Hosts should consider implementing these strategies to boost their income without major changes to their operations.
Key Insights
- •Hosts can add $10,000 to $50,000 in extra annual revenue by maximizing every guest and stay and employing strategies like selling experience packages, upselling, and partnering with businesses.
- •Using wholesale platforms like Minoan can help hosts save money on furniture and decor. One host saved nearly $10,000 on furnishing two cabins.
- •Pet-friendly properties are highly searched on Airbnb. Charging a flat fee ($100-$150) or a per-night fee ($25-$50) for pets can significantly boost revenue and occupancy.
Action Items
- ✓Explore wholesale platforms like Minoan to furnish properties at a lower cost, allowing for better quality and potentially higher nightly rates.Effort: mediumImpact: medium
- ✓Consider creating and selling experience packages to guests, using reusable supplies to keep costs down and provide an extra revenue stream.Effort: mediumImpact: medium
- ✓Implement a system to offer extra nights to guests after booking, potentially with discounts, using automation tools to streamline the process.Effort: mediumImpact: medium
Tools & Resources
- →Minoan: The article mentions using the platform Minoan for furniture and decor.
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