EP204: Hosting Bridal Parties at ‘The Ohio City Getaway’
Summary
This article discusses revenue management strategies specifically tailored for short-term rentals, highlighting the differences between hotel and STR pricing. Hosts should schedule revenue management routines and analyze booking data to optimize pricing and maximize revenue. The article also provides a free revenue review to help hosts identify missed opportunities.
Key Insights
- •Small daily price changes can increase exposure on OTAs.
- •Booking windows and pacing strategies significantly shape revenue strategy in ways hotels don't deal with.
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness and operational constraints.
Action Items
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Schedule revenue management routines, not reactive pricing.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry
- →Free Revenue Review: Get a Free Revenue Review
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