EP032: The Five Most Common Mistakes Airbnb Hosts Make
Summary
This article discusses the importance of a structured revenue management routine for STR hosts. It emphasizes that consistent daily and weekly pricing reviews, understanding booking behavior, and making small price adjustments can lead to increased revenue. Additionally, it touches upon CEO-level strategies for STR businesses and contrasts hotel vs. STR revenue management challenges.
Key Insights
- •Small daily price changes can increase exposure on OTAs.
- •Most STR operators 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.
- •Early bookings can indicate underpricing or upcoming events.
Action Items
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Spot mistakes in minimum stays and pricing settings.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry
- →Freewyld Foundry: Get a Free Revenue Review
Watch Out For
- ⚠Most hosts underperform not because they lack tools.
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