EP233: This Week in the World of Airbnb
Summary
This 'Get Paid For Your Pad' episode discusses various aspects of short-term rental management, including revenue optimization, CEO strategies for scaling, and the challenges of STR pricing compared to hotels. Hosts can gain insights into revenue management routines, CEO focus areas, and the complexities of STR pricing. Consider reviewing revenue management practices, prioritizing CEO tasks, and understanding STR-specific pricing strategies.
Key Insights
- •Reviewing every booking reveals pricing and demand signals.
- •STR pricing is dramatically harder than hotel pricing due to product uniqueness, booking window impacts, and operational constraints.
- •CEOs waste 30 to 50 percent of their time on low-value activities, which becomes more dangerous as STR businesses grow.
Action Items
- ✓Review your daily and weekly pricing routine.Effort: lowImpact: medium
- ✓Identify the biggest bottleneck in your STR business.Effort: mediumImpact: high
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry
- →Freewyld Foundry: Get a Free Revenue Review
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.
- ⚠Trying to fix everything at once slows growth.
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