EP068: Airbnb Hosting in New York with Seth Porges
Summary
This article discusses revenue management strategies for short-term rentals, emphasizing the importance of a structured pricing routine and analyzing booking data. Hosts can improve profitability by scheduling revenue management, reviewing bookings, and making small, consistent price changes. It also explores strategic CEO focus and the challenges of the "hectic host" stage.
Key Insights
- •Product uniqueness turns every listing into its own "mini hotel".
- •STR rate drops must be deeper near arrival.
- •Being busy does not mean your STR business is progressing.
- •How decision fatigue pulls CEOs into low-value tasks.
- •CEOs waste 30 to 50 percent of their time on low-value activities.
- •Revenue management must be scheduled, not reactive.
- •Reviewing every booking reveals pricing and demand signals.
- •Small daily price changes can increase exposure on OTAs.
- •STR pricing is dramatically harder than hotel pricing.
Action Items
- ✓Schedule revenue management and create a daily/weekly pricing routine.Effort: lowImpact: medium
- ✓Review bookings to identify pricing signals and adjust strategies.Effort: lowImpact: medium
- ✓Prioritize CEO tasks to address bottlenecks and high-ROI activities.Effort: mediumImpact: high
Tools & Resources
- →Freewyld Foundry: Get a Free Revenue Review.
- →Freewyld Foundry: Learn more about Freewyld Foundry.
Watch Out For
- ⚠Most hosts 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.
- ⚠Trying to fix everything at once slows growth.
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