Curious what your portfolio’s potential is? Apply for RPM at https://freewyldfoundry.com/rpm/. 

Summary

In this conversation, Jasper Ribbers and Kaye Putnam continue their discussion on revenue management. They provide examples of the impact their service has had on clients' businesses, including significant improvements in revenue. They emphasize the importance of understanding the entire business and market dynamics when developing a pricing strategy. They also highlight the value of their service as a marketing and business acquisition tool, as it provides clients with data and reports to showcase their performance to owners and potential investors. They address common questions and misconceptions about revenue management and explain how their service can benefit hosts in seasonal markets.

Takeaways

• Revenue management can have a significant impact on short-term rental businesses, leading to improvements in revenue and profitability.
• Understanding the entire business and market dynamics is crucial when developing a pricing strategy.
• Revenue management can serve as a powerful marketing and business acquisition tool, as it provides data and reports to showcase performance to owners and potential investors.
• The service is particularly beneficial for owners and master leasers, as it allows them to increase their revenue and profitability.
• In seasonal markets, it is important to consider the booking window and adjust pricing strategies accordingly.
• Taking emotions out of pricing decisions and relying on data and market demand can lead to better results.
• The service is a win-win, as it brings value to the business and helps hosts save time and make more money.

Hosted on Acast. See acast.com/privacy for more information.