5 Things You Need to Know to Run Your Airbnb Business in 2020
Summary
James Svetec shares five essential pieces of advice for running a successful Airbnb management business in 2020, focusing on problem-solving, data-driven pricing, risk mitigation, guest flexibility, and adaptability to market changes. He advocates for the management fee model over rental arbitrage due to its lower risk and emphasizes the importance of leveraging data for optimal pricing strategies.
More from Growth & Marketing
Airbnb's Community Fund supports Yayasan R.O.L.E. in Bali, focusing on waste reduction and women's empowerment through education and training for employment in the hospitality sector. The program also supports environmental stewardship and waste management, aligning with sustainable tourism practices. The donation is a recognition of the work done by the Indonesia Airbnb Host Community.
Starwood Hotels, after a revival, plans to remain a small, intentionally curated brand, focusing on high profitability. CEO Raul Leal highlights the importance of compelling content and experiences, leveraging social media and AI chatbots for discovery. This strategy reflects changing market dynamics and the power of content marketing.
Kayak's new ad campaign overlooks the impact of AI on travel planning, a notable shift as one-third of U.S. travelers now use AI for travel research. The ads focus on traditional booking methods. This missed opportunity may lead to a slower adoption of Kayak's services against competitors leveraging AI.
Curated by Learn STR by GoStudioM