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Summary
This article is an episode breakdown from the 'Get Paid For Your Pad' podcast. It highlights the importance of implementing a structured revenue management routine to optimize pricing and booking strategies. Hosts can discover how to analyze booking data, adjust prices, and improve profitability by focusing on daily and weekly pricing workflows.
Key Insights
- •The episode highlights that STR pricing is dramatically harder than hotel pricing due to product uniqueness, booking windows, and operational constraints.
- •The article discusses that early bookings can indicate underpricing or upcoming events, highlighting the importance of regularly reviewing bookings.
Action Items
- ✓Hosts should review every booking to identify pricing and demand signals and spot mistakes in minimum stays and pricing settings.Effort: lowImpact: medium
- ✓Hosts should familiarize themselves with the Market Penetration Index (MPI) and use it when reviewing pacing on a weekly basis.Effort: mediumImpact: medium
Tools & Resources
- →Jasper Ribbers: Follow Jasper Ribbers
- →Freewyld Foundry: Learn more about Freewyld Foundry
Watch Out For
- ⚠The article warns that hosts often 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.
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