Airbnb News Update March
Summary
This article from "Get Paid For Your Pad" covers various aspects of STR management, including revenue management routines, CEO focus for scaling businesses, and the differences between hotel and STR revenue management. Hosts should pay attention to these insights to optimize pricing, manage their time effectively, and understand the unique challenges of the STR market.
Key Insights
- •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.
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness and operational constraints.
- •Smaller markets like Kansas City, Boston, Seattle, and Philadelphia may outperform larger cities during the FIFA World Cup.
Action Items
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Recognize that STR rate drops must be deeper near arrival.Effort: lowImpact: medium
- ✓Prepare for a booking surge that will play out over the coming months by understanding the FIFA World Cup schedule.Effort: mediumImpact: high
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry
- →Freewyld Foundry: Get a Free Revenue Review from Freewyld Foundry.
Watch Out For
- ⚠Making pricing decisions based on formulas rather than experience can lead to underperformance.
- ⚠Trying to fix everything at once can slow growth.
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