The $1M Listing with $23k Revenue: A Myrtle Beach Case Study

The Short Term ShopJan 14, 202633m 3s1.1K viewsScore 85
Pricing & Profitability
intermediate
last-minute bookings
price compression
dynamic pricing
Guest Favorite status
revenue management
M

Summary

AI-generated

Learn how to navigate the evolving short-term rental market, focusing on strategies to combat price compression and last-minute bookings. Discover how to leverage "Guest Favorite" status and actively manage pricing tools to maximize revenue.

Key insights

  • Approximately 14% of short-term rental bookings are now last-minute (within 7 days), a significant shift from previous years where summer vacations were planned much earlier.

Mistakes to avoid

  • Listing agents who do not counter offers, even low ones, may be doing their seller a disservice, potentially missing out on a buyer willing to increase their offer significantly.

Tools & resources

  • Short-Term Rental Virtual Summit for Womencourse

    The Short Term Rental Virtual Summit for Women is an event offering 3 days of education on various aspects of the short-term rental industry.

Frequently Asked Questions

Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial