359. Why Dynamic Pricing Should Be Your #1 Priority as an Airbnb Host

Welcome back to the officially unofficial Money Making May, where we have a full month’s worth of content all around pricing profitable properties with PriceLabs!Today’s expert guest is our very own Chief Operating Officer, Colleen Prochaska! Colleen brings over ten years of hospitality experience as a hotel General Manager for Marriott and Hilton brands to Thanks for Visiting. Her passion lies in supporting guests' experiences and mentoring associates throughout her career. Her philosophy entails equipping the team with tools, providing clear communication, and ensuring success for all.She’s here today to walk us through a lightning-fast masterclass on revenue management for short-term rentals – highlighting the mind blowing features and money-making capability of our dynamic pricing partner, PriceLabs, along the way.PriceLabs helps you make more money than you would without it. It's a rare piece of operational software that brings with it an immediate ROI – the holy grail of any business investment, especially when you’re operating on a tight budget or just starting out.Come for the money-making tips, but stay as Sarah and Colleen air out some dirty laundry on a big mistake we made in Q1 of this year. We are, if nothing else, open and honest in our mission to make you more money on your STR journey!(00:01:21) #STRShareSunday: @trimbellecottage(00:03:15) Colleen’s Revenue Management Tips via PriceLabs(00:20:00) Bigger Picture: Monthly & Annual Pricing Adjustments (00:27:05) Practical Example of STR Revenue Management Concepts(00:33:12) We Made This STR Pricing Mistake So You Don’t Have ToResources:• Click here for full show notes• #STRShareSunday: @trimbellecottage• Check out PriceLabs: Start your 30-day free trial• Taking Calculated Risks in the STR Industry with Our Chief Operations Officer #271• Video: Dynamic Pricing Software for Airbnb & Short Term Rentals• Airbnb Essentials Checklist: hostchecklist.comThanks for Visiting is produced by Crate Media.Mentioned in this episode:Join us for our live Get More Bookings Bootcamp.Minoan | Visit MinoanExperience.com and tell them TFV sent you!Hostfully | Go to https://www.hostfully.com/tfv and use TFV100 to get $500 off your subscription.