Direct Bookings Through Powerful and Actionable Marketing Techniques
Summary
This article is a collection of podcast episode summaries from "Get Paid For Your Pad" covering topics from revenue management and CEO strategies to the upcoming FIFA World Cup. Hosts should pay close attention to the revenue management routines, understand how CEO focus impacts their business, and take advantage of any opportunities that may arise from the World Cup.
Key Insights
- •Booking reviews reveal pricing and demand signals.
- •Some cities may see modest lift while others could experience extreme ADR spikes and rapid sellouts due to the FIFA World Cup.
- •Countries such as Germany, Brazil, Spain, England and Argentina drive heavy international travel.
- •Hosts make a pricing mistake when they try to fill early instead of letting demand mature.
- •Smaller markets like Kansas City, Boston, Seattle and Philadelphia may outperform larger cities during the FIFA World Cup.
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness, booking windows, and operational constraints.
- •Booking windows and pacing strategies impact revenue strategy, which differ from hotel practices.
Action Items
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Prepare for the booking surge that will play out over the coming months by reviewing your pricing strategy to maximize revenue during the FIFA World Cup.Effort: mediumImpact: high
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry.
- →Freewyld Foundry: Get a Free Revenue Review from Freewyld Foundry.
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