News updates and tips from the community
Summary
This article is a compilation of podcast episodes covering revenue management, CEO strategies, the differences between hotel and STR revenue management, and strategies for overcoming operational overwhelm. Hosts should pay close attention to the recommendations for pricing routines, strategic focus, and efficient operational workflows to maximize profits.
Key Insights
- •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 turning every listing into its own mini-hotel, and booking windows shaping revenue strategy differently.
- •The article suggests that for the FIFA World Cup, some cities may see modest lift while others could experience extreme ADR spikes and rapid sellouts.
Action Items
- ✓Implement a daily and weekly pricing review routine to stay ahead of the market.Effort: lowImpact: medium
- ✓Re-evaluate your priorities, recognize patterns inside your business, and identify the true bottlenecks that require CEO-level attention rather than more activity.Effort: mediumImpact: high
- ✓Consider how the FIFA World Cup schedule may affect your pricing, and prepare for potential ADR spikes.Effort: mediumImpact: high
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry
Watch Out For
- ⚠A common mistake is trying to fix everything at once, which slows growth.
- ⚠Hosts make a pricing mistake when they try to fill early instead of letting demand mature during events.
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