EP092: Airbnb Hosting in Adelaide with Phil Spyrou Part I
Summary
This article discusses revenue management strategies for short-term rentals, highlighting the difference between hotel and STR pricing, the importance of daily and weekly pricing routines, and the impact of the FIFA World Cup on booking demand. Hosts should pay close attention to booking windows, market penetration index (MPI), and the impact of the World Cup to optimize their pricing strategies and maximize revenue.
Key Insights
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness (every listing is a mini-hotel), volatile demand, and operational constraints like cleaning and minimum stays.
- •Booking windows and pacing heavily influence revenue strategy in STRs, unlike hotels. Deep rate drops are often needed near the arrival date.
- •The FIFA World Cup 2026 is expected to significantly impact STR demand with ADR spikes, especially in cities hosting matches.
Action Items
- ✓Monitor Market Penetration Index (MPI) to identify pricing opportunities and adjust strategies.Effort: mediumImpact: medium
- ✓Research the potential impact of the FIFA World Cup on your market and adjust pricing accordingly; consider that some cities may experience lower price elevation due to hotel supply.Effort: mediumImpact: high
- ✓Review your booking data daily and weekly to understand pricing signals and demand trends.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry
Watch Out For
- ⚠Underpricing listings early, without anticipating demand and potential price increases, can result in lost revenue.
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