Takeaways and learning lessons from VRMA Orlando
Summary
This article discusses key takeaways from the VRMA Orlando conference, including guest experience, AI tools, and hotel lobbyist challenges. It also promotes several episodes of the "Get Paid For Your Pad" podcast discussing revenue management, CEO strategies, and comparing hotel versus short-term rental revenue management. Hosts should consider the insights shared about revenue management routines and CEO focus.
Key Insights
- •The episode emphasizes the importance of being well-prepared for conferences like VRMA, managing your energy effectively, and making intentional connections with other industry professionals.
- •STR revenue management must be scheduled, not reactive.
Action Items
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Identify the biggest bottleneck in your STR business and focus on it.Effort: mediumImpact: high
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry
- →Revenue Management training: Watch the free Revenue Management training at https://www.getpaidforyourpad.com/cfm-replay
- →5 Most Common Airbnb Revenue Management Mistakes: Download the FREE E-Book: 5 Most Common Airbnb Revenue Management Mistakes
Watch Out For
- ⚠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.
- ⚠The biggest revenue mistake most STR operators make isn’t their pricing tool… but the lack of a daily and weekly pricing routine.
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