All Forum Posts by: Theresa Holl

Hi Richard,  what goals do you have in mind around occupancy, revenue and long term profit?  There are over 6000 listings there and market performance is just ok.  Is anyone coaching you on goal setting and site selection?

Hi Lauren - Have you set up smart pricing and a personal booking site to help manage the multiple channels (Airbnb, vrbo, etc? That way, when you run ads on google, you get the traffic straight to your website (without competitor recommendations!). I also try to get the info from the guests with a in-house guestbook to stay in touch for future stays. Some other options include Facebook ads, instagram giveaways, booking affiliate marketers to take and share content of your place when you have in-between days left unbooked. Also, getting some coaching from an STR marketing can be a good start.

A few links you might want to check out: https://www.lumoshost.com/post/8-booking-site-generators-to-...

 https://hello.pricelabs.co/

Have fun!

Having the right booking sites is only part of the equation.  Do you have a solid strategy around social and advertising?  Have you thought about building your own brand and consolidating things with a website of your own and a push toward direct booking?  Here are a couple links you might want to check out.  Best of luck!

https://www.beyondpricing.com/blog/the-top-3-reasons-direct-...

https://www.lumoshost.com/post/8-booking-site-generators-to-...

@Ben Jimenez Aside from wanting to live by a beach, what are some of your specific business goals and how do you plan to grow/maintain your wealth once you're up and running?  Are you looking for a market where it makes sense to buy additional properties once your first is successful?  Do you prefer large metros or a quieter experience?  Lots of online resources to measure current profitability of STRs by market like AirDNA and others.  Hotstats.com is a cool site with lots of hotel profitability intelligence, which is good context for an investor as well.  Let me know if you're looking for any more coaching/personalized mentorship on this. 

Hi Tara - lots of good tips above.  AirDNA is a great place to start, even the free version.  Also, the website hotstats.com has some great data and a nice layout.  As you look to set up a long term marketing strategy, there's a nice blog and some consulting available at Lumos Host.  I'd suggest taking a look at the hotstats.com site and judging by GOPPAR (gross operating profit per available room) to see how hotels are performing in your target area.  They will be a primary competitor and their financial health is a good thing to keep track of.  Lots of other resources are out there I can show you as well.  Best of luck!!

Hi Heather - How did this end up going for you? STR Marketing is its own animal and can set you apart from the competition. Have you had any coaching around a digital marketing strategy - like social and ads? Hope things are going well for you. :)

Hi Michelle - do you have specific business/personal goals with you STR? I'd start any planning from a goal-driven perspective and focus on maximizing profits rather than just lowest barrier to entry. This is one of my favorite sites for competitive research. hotstats.com

Good luck!