Are We Buying a Hotel???
Summary
This article discusses the changing landscape of the STR industry, with a focus on acquiring existing vacation rental communities or boutique hotels. It highlights the importance of due diligence, understanding revenue management, and strategic decision-making in navigating the current market. Hosts should consider evaluating their own revenue management routines and staying informed on strategic CEO-level actions to improve their business.
Key Insights
- •CEOs waste 30 to 50 percent of their time on low-value activities.
- •The biggest opportunity in the STR industry is acquiring old vacation rental communities to convert into modern short-term rental experiences.
- •Revenue management must be scheduled, not reactive.
Action Items
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Rethink priorities and recognize patterns inside your business to identify the true bottlenecks that require CEO-level attention.Effort: mediumImpact: high
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry → https://www.freewyldfoundry.com
- →Freewyld Foundry Revenue Review: Get a Free Revenue Review → https://www.freewyldfoundry.com/report
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