EP217: This Week in the World of Airbnb
Summary
This 'Get Paid For Your Pad' podcast episode series discusses various aspects of STR operations, including revenue management routines, CEO-level focus for scaling businesses, the complexities of STR pricing compared to hotels, and how to avoid being overwhelmed as a host. Hosts can learn how to optimize pricing, focus on strategic tasks, and streamline operations for better results.
Key Insights
- •Being busy does not mean your STR business is progressing, and CEOs can waste 30-50% of their time on low-value activities. Strategic focus and identifying bottlenecks are key.
- •STR pricing is dramatically harder than hotel pricing, due to factors like product uniqueness (every listing is its own 'mini-hotel'), the impact of booking windows, and operational constraints.
Action Items
- ✓Implement daily and weekly pricing routines to stay ahead of the market and interpret booking behavior.Effort: mediumImpact: medium
- ✓Identify the biggest bottlenecks in your STR business to focus on the highest-impact activities for growth.Effort: mediumImpact: high
Tools & Resources
- →Freewyld Foundry: Get a Free Revenue Review from Freewyld Foundry
- →Freewyld Foundry: Learn more about Freewyld Foundry
Watch Out For
- ⚠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 once it shows up.
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