How to Leverage Experiential Design to Stand Out on Airbnb—with Kate Shaw & Betsy Moyer (Ep403)
Summary
This article is a collection of insights from the "Get Paid For Your Pad" podcast. It covers topics from revenue management, CEO strategies, and comparing hotel revenue management versus STR revenue management. Hosts should pay attention to the key distinctions between hotel and STR revenue management, along with strategies to improve their pricing routines and understand how to manage their time strategically.
Key Insights
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness turning every listing into its own "mini hotel", creating a hyper-fragmented demand curve.
- •Early bookings can indicate underpricing or upcoming events, while last-minute inventory reveals demand and visibility.
- •Cities like Kansas City, Boston, Seattle, and Philadelphia may outperform larger cities during events like the FIFA World Cup.
Action Items
- ✓Pay close attention to weekend demand versus weekday demand when adjusting pricing.Effort: lowImpact: medium
- ✓Prepare for a booking surge and avoid underpricing listings, especially in cities hosting major events.Effort: lowImpact: high
- ✓Review every booking to identify pricing and demand signals.Effort: lowImpact: medium
- ✓Consider implementing small daily price changes to increase exposure on OTAs.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry
- →Freewyld Foundry: Learn more about Freewyld Foundry
Watch Out For
- ⚠Many STR operators underperform because they don’t know what to look at, when to look at it, or how to interpret booking behavior.
- ⚠Avoid overcorrecting pricing too quickly, as it can negatively impact revenue.
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