Castle on Airbnb? Building a Profitable STR Business in Ohio
Summary
This article discusses building a profitable STR business in Ohio, focusing on market focus, guest experience, and partnership strategies. Hosts can learn how to create unique experiences, manage partnerships, and implement strategies for sustainable growth and premium pricing. The article provides insights into scaling, overcoming market saturation, and maximizing revenue through strategic focus and hospitality.
Key Insights
- •Focusing on one market creates more opportunity than geographic expansion.
- •Properties rated 4.9 or above earn 15% more revenue on average.
- •Host Pros scaled from 2 units to 77 listings in Ohio.
Action Items
- ✓Focus on one market deeply instead of spreading thin across multiple locations.Effort: mediumImpact: medium
- ✓Consider implementing AI tools for personalized guest experiences.Effort: mediumImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry.(https://www.freewyldfoundry.com/)
- →School of Sorcery Castle: School of Sorcery Castle.(https://www.stayatschoolofsorcery.com)
- →Host Pros: Relevant Links: Host Pros.(https://www.hostproscle.com)
More from Growth & Marketing
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This article discusses the emergence of a new platform designed as an 'Airbnb' for hourly creative spaces. It aims to solve the difficulties creators face when finding and renting spaces. While not directly about STRs, it highlights a potential niche market that could be applicable to hosts considering offering hourly space rentals, indicating a shift towards accommodating creative industries.
Airbnb is offering a $750 incentive to attract new hosts to list their properties for the World Cup. This move aims to ensure sufficient accommodation for visitors during the event. This initiative highlights the importance of short-term rentals in accommodating large-scale events and provides a financial benefit for new hosts.
Curated by Learn STR by GoStudioM