Tactical Strategy: Do This When They Ask for a Discount

Al Williamson - LeadingLandlordSep 15, 20230m 59s100 viewsScore 75
Pricing & Profitability
intermediate
discount strategy
sales conversion
objection handling
revenue management
booking conversion
M

Summary

AI-generated

Learn a tactical strategy for handling discount requests from potential short-term rental guests. This method involves offering a time-sensitive, limited discount on the initial portion of a stay to encourage booking without significantly reducing overall revenue.

Key insights

  • Offering a limited discount on just the first seven days of a stay, rather than the entire month, can result in a significantly smaller overall discount (e.g., 3.5% instead of 15%).

Mistakes to avoid

  • Giving a blanket discount on the entire month's stay without any conditions can significantly reduce overall revenue and may set a precedent for future guests expecting similar reductions.

Tools & resources

  • Free Landlord Resourcesresource

    The speaker mentions offering free resources like PDF books and audio series to help hosts increase income and reduce expenses.

Frequently Asked Questions

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