EP041: Erik Paquet, Co-Founder of Abroaders.com, Talks Travel Hacking and Airbnb Opportunities
Summary
This article discusses revenue management strategies for short-term rentals, emphasizing the importance of daily and weekly pricing routines. It highlights the differences between hotel and STR revenue management, and provides insights on how to optimize pricing and identify booking patterns. The article also touches on CEO focus and the importance of strategic planning and decision-making.
Key Insights
- •STR pricing is dramatically harder than hotel pricing, due to factors like product uniqueness turning every listing into its own "mini hotel", booking windows shaping revenue strategy in ways hotels never deal with, and operational constraints influencing pricing.
- •CEOs of STR businesses can waste 30 to 50 percent of their time on low-value activities. Decision fatigue and solving the wrong problems can stall growth even when demand is strong.
Action Items
- ✓Review bookings daily to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Identify and address business bottlenecks to focus CEO-level attention and drive growth.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
- ⚠STR CEOs can waste time on low-value tasks, confusing action with momentum, which can stall growth.
- ⚠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.
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