The Short-Term Rental Ecosystem
Summary
This article discusses the evolving ecosystem of short-term rental services and revenue management strategies. Hosts can learn about the growth of the STR industry, the impact of Airbnb, and how to optimize their pricing routines for better revenue. Consider implementing a daily and weekly pricing routine and reviewing bookings to analyze pricing signals.
Key Insights
- •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 once it shows up.
- •The average length of stay has decreased to 4 nights.
- •STR pricing is dramatically harder than hotel pricing, due to product uniqueness and operational constraints.
Action Items
- ✓Implement a daily and weekly pricing routine.Effort: lowImpact: medium
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
Tools & Resources
- →Free Revenue Review: Find out how much money your portfolio is leaving on the table. Risk-free.
- →Freewyld Foundry: Learn more about Freewyld Foundry
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