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Summary
This article from Get Paid For Your Pad discusses revenue management and CEO-level focus in the short-term rental business. It emphasizes the importance of consistent routines, daily pricing reviews, and strategic time allocation for CEOs to drive business growth.
Key Insights
- •The article suggests that most STR operators underperform not because of their pricing tools, but because of a lack of a daily and weekly pricing routine.
- •CEOs waste 30 to 50 percent of their time on low-value activities, which is more dangerous as STR businesses grow.
- •The article highlights the importance of CEOs identifying and focusing on business bottlenecks as the business scales.
Action Items
- ✓Schedule revenue management and perform daily and weekly pricing routines.Effort: lowImpact: medium
- ✓STR CEOs should focus on strategic planning instead of being busy all day.Effort: mediumImpact: high
- ✓Review every booking to reveal pricing and demand signals and consider small daily price changes.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry
- →Freewyld Foundry: Get a Free Revenue Review from Freewyld Foundry
Watch Out For
- ⚠Most STR operators make a revenue mistake, not because of the pricing tool, but the lack of a daily and weekly pricing routine.
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