EP022: Using Airbnb In South America With Travel Expert Renate Rigters Who Has That Wanderlust
Summary
This article discusses revenue management strategies for short-term rentals, highlighting the differences between hotel and STR pricing, the importance of a structured pricing routine, and the impact of the FIFA World Cup on booking demand in various cities. Hosts should pay close attention to the impact of the World Cup on their markets and implement a consistent revenue management routine.
Key Insights
- •Smaller markets like Kansas City, Boston, Seattle and Philadelphia may outperform larger cities during the FIFA World Cup.
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness, booking windows, guest behavior, and operational constraints.
- •Countries such as Germany, Brazil, Spain, England and Argentina drive heavy international travel.
Action Items
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Prepare for the booking surge of the FIFA World Cup, especially in cities expected to experience high demand.Effort: mediumImpact: high
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry
Watch Out For
- ⚠Hosts make a pricing mistake when they try to fill early instead of letting demand mature.
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