How the Coronovirus Impacts Airbnb Hosts (Part II)
Summary
This article discusses revenue management strategies specifically for short-term rental hosts, emphasizing the differences from hotel revenue management and focusing on the importance of daily and weekly pricing routines. It highlights the use of booking data, pacing analysis, and minimum stay rules to optimize pricing and maximize revenue. Hosts should implement a structured approach to revenue management, analyzing booking behavior, and making small, consistent price adjustments to improve profitability.
Key Insights
- •Early bookings can indicate underpricing or upcoming events.
- •STR rate drops must be deeper near arrival compared to hotel pricing.
Action Items
- ✓Review pacing on a weekly basis using Market Penetration Index (MPI).Effort: mediumImpact: medium
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Spot mistakes in minimum stays and pricing settings.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry
Watch Out For
- ⚠Don’t overcorrect pricing too quickly.
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