Pricelabs optimization to increase revenue

[Jeremy Rosen]

Happy Friday everyone!

I have been seeing a lot of questions in groups recently regarding how to price your STR, how to increase occupancy, and ultimately, how to make more revenue each month. Here is what I have done to increase the revenue per month by average $1,741 versus the comp set properties of the STR owners I consult with. First, developing your awareness of the STRs around you is key to knowing how much someone is charging at any given time, the market's occupancy rate, and how much revenue your competitors are driving in. Did you know you can actually find all of this information using Pricelabs? I have used Pricelabs for STR owners I consult with, and since leveraging Pricelabs to run comps, create a data analysis, and then use my 3 Step Pricing Strategy, I have been able o bring in on average 45% more than the markets I am in! Don't be fooled by the "set it and forget it" advice.

I put together a graphic that dives deeper into the pricing strategies I implemented that could help you bring in more revenue for your STR! Send me a PM if you'd like to see it.