EP082: Remote Hosting in Buenos Aires with Amy Scott
Summary
This article discusses revenue management strategies for short-term rentals, specifically focusing on the importance of daily and weekly pricing routines. It highlights the differences between hotel and STR revenue management, emphasizing the need for hosts to be proactive in reviewing bookings and adjusting pricing to optimize revenue.
Key Insights
- •STR operators must stay tightly connected to operations if they want accurate pricing.
- •Revenue management must be scheduled, not reactive.
- •Early bookings can indicate underpricing or upcoming events.
- •STR pricing is dramatically harder than hotel pricing.
Action Items
- ✓Review every booking to identify pricing and demand signals.Effort: lowImpact: medium
- ✓Make small daily price changes to increase exposure on OTAs.Effort: lowImpact: medium
- ✓Pay close attention to weekend pricing.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry.
- →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 once it shows up.
- ⚠Do not overcorrect pricing too quickly.
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