EP065: Airbnb NYC: Evelyn Badia Talks about Hosting and Legislation
Summary
This article is a collection of podcast episode summaries from Get Paid For Your Pad, covering topics from revenue management to CEO strategies and how to manage your business. Hosts should pay close attention to revenue management practices, recognizing business bottlenecks, and adapting to pricing fluctuations during events like the FIFA World Cup.
Key Insights
- •Booking windows and pacing are critical in determining revenue strategy; early booking data provides insights into underpricing or upcoming events.
- •STR pricing is dramatically harder than hotel pricing, due to factors such as product uniqueness, booking windows, and operational constraints.
- •The FIFA World Cup schedule release provides hosts with the opportunity to target cities and events with high demand and adjust pricing accordingly.
Action Items
- ✓Review bookings daily and weekly to understand pricing and demand signals.Effort: lowImpact: medium
- ✓Identify and address business bottlenecks by understanding decision fatigue and low-value tasks.Effort: mediumImpact: high
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry
- →Freewyld Foundry: Get a Free Revenue Review at https://www.freewyldfoundry.com/report
Watch Out For
- ⚠Making reactive pricing decisions is a common mistake; instead, revenue management should be scheduled.
- ⚠Underestimating the impact of operational constraints such as cleaning on pricing can lead to revenue loss.
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