EP039: The Sharing Economy: Meal Sharing, Car Sharing, Dog Sitting And More
Summary
This podcast episode from "Get Paid For Your Pad" breaks down key elements of STR revenue management, emphasizing the importance of scheduled pricing reviews, understanding booking patterns, and adapting to market signals. Hosts should use these principles to refine their pricing strategies, react to demand, and avoid common revenue mistakes.
Key Insights
- •Weekends require different attention than weekdays.
- •Revenue management must be scheduled, not reactive.
- •Reviewing every booking reveals pricing and demand signals.
- •Early bookings can indicate underpricing or upcoming events.
- •Small daily price changes can increase exposure on OTAs.
Action Items
- ✓Schedule time for daily and weekly pricing reviews.Effort: lowImpact: medium
- ✓Review bookings to identify demand and pricing signals.Effort: lowImpact: medium
- ✓Make small, consistent pricing adjustments.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry
Watch Out For
- ⚠Most hosts 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 once it shows up.
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