EP224: This Week in the World of Airbnb
Summary
This article from Get Paid For Your Pad discusses key aspects of revenue management, CEO focus, and the differences between hotel and STR revenue management. Hosts should prioritize creating a scheduled revenue management routine and understanding the differences between hotel and STR pricing to maximize their profits. Also discussed are CEO focus and how to manage the STR business at scale.
Key Insights
- •CEOs of STR businesses often waste time on low-value activities, which becomes more dangerous as the business scales.
- •Most STR operators 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.
- •STR pricing is dramatically harder than hotel pricing due to factors like product uniqueness (every listing is its own “mini hotel”), booking windows, and operational constraints.
Action Items
- ✓Review bookings daily and weekly to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Identify the biggest bottlenecks in your STR business to focus CEO-level attention.Effort: mediumImpact: high
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry
- →Freewyld Foundry: Get a Free Revenue Review
Watch Out For
- ⚠Many hosts make the mistake of not having a daily and weekly pricing routine.
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