Quote from @Sean Ruggiero:
Hi everyone!
I've done lots of research on pricing strategy, this guy has killer free content on youtube. He claims propriety information to a masterclass for $525 which basically lays out 8 Airbnb Rule Sets to maximize revenue (which he has used himself to grow into a multimillion dollar business)
Same-old, same-old, right? I don't use FaceBook right now and am not part of the free FaceBook group. When I search google it doesn't pull up a whole lot, just some generic info and sometimes off-topic stuff.
My question, what do you guys think about these rule sets and pricing strategies, have any of you actually had a relationship with Sean Rakidzich etc? Would love to dive deep on pricing strategy for STR's. If anyone has any valuable info, please and thank you!
Jumping in late here, but I just wanted to share my strategy. I developed this strategy over 10 years ago just after I worked at Airbnb and it still works today. 95% occupancy. I think of it as a simple 2-step strategy. First, is working with base price and minimum. Second, is customizations which are to only be applied to counteract booking trends (like no last-minute reservations).
Here it is:
1) Find your Booking Lead Time (BLT)
2) Create your occupancy targets based on #1. If your BLT is 30 days, you want to have an occupancy of roughly 50%, 30 days into the future.
3) Adjust your base price, based on your occupancy, once weekly. For example, if you occupancy at your BLT is only 30%, then lower your base price by 10%. On the other hand, if your occupancy at BLT is 70%, raise your base price by the same amount.
4) Add in customizations when it makes sense. You should not have more than a few customizations.
