Overnight Success and Freewyld Recap of 2021 and What’s Coming Up in 2022
Summary
This article is a recap of the 'Get Paid For Your Pad' podcast and highlights key strategies for short-term rental hosts. Topics include revenue management routines, CEO-level focus for STR businesses, and how to improve pricing. Hosts can learn how to structure revenue management, identify business bottlenecks, and improve pricing strategies.
Key Insights
- •The article references the Hectic Host stage where operators are stuck in firefighting mode.
- •The article discusses the importance of a daily and weekly pricing routine for effective revenue management.
- •It highlights the fact that STR pricing is harder than hotel pricing, due to the unique nature of each listing as a 'mini-hotel.'
Action Items
- ✓Identify and address the biggest bottlenecks in your STR business to improve CEO focus and efficiency.Effort: mediumImpact: high
- ✓Focus on root cause problem-solving instead of fixing symptoms to avoid getting stuck in overwhelm.Effort: mediumImpact: high
- ✓Implement a structured revenue management routine.Effort: mediumImpact: high
Tools & Resources
- →Hostfully: Mention of Hostfully with a discount code (PAD).
- →Freewyld Foundry: Freewyld Foundry is mentioned, offering revenue reviews.
Watch Out For
- ⚠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 once it shows up.
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