EP043: Airbnb Hosting In Los Angeles With David Dolce
Summary
This article discusses revenue management strategies for short-term rentals, highlighting the difference between hotel and Airbnb pricing and focusing on how to avoid getting overwhelmed. It emphasizes the importance of scheduling revenue management, reviewing bookings for pricing signals, and understanding the unique aspects of STRs compared to hotels. Hosts should create a revenue management routine and identify key bottlenecks to address and avoid overwhelm.
Key Insights
- •Hotels can rely on last-minute demand, but STRs cannot as much.
- •STR pricing is dramatically harder than hotel pricing, due to factors like product uniqueness (every listing being like a mini-hotel), and operational constraints influencing pricing decisions.
- •Booking windows shape revenue strategy in ways hotels never deal with.
Action Items
- ✓Review bookings daily and weekly to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Focus on identifying and addressing key business bottlenecks.Effort: mediumImpact: high
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry
Watch Out For
- ⚠STR rate drops must be deeper near arrival.
- ⚠Many STR operators don't know what to look at in their data, when to look at it, or how to interpret booking behavior.
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