The STR Revenue Growth Course
Beyond Airbnb: Everything you need to know to boost bookings and grow earnings.
Episode 5: Learn how to adapt to changing market conditions, with Giacomo from Turbosuite
In a competitive market, the difference between a booked property and an unbooked property is setting the right price. Learn how to ensure your properties are the booked properties, with Giacomo Atzori, Head of Revenue Operations & Partnerships at Turbosuite.
Don’t have time to watch the video right now? We’ve got you covered. Our key takeaways mean you won’t miss out on a thing!
Key Takeaways:
Move with the Market: Automated pricing is like having a secret weapon in your arsenal. It helps you adjust your rates on the fly based on what’s happening in the market. That means more bookings when demand is high and fewer missed opportunities when things slow down.
Spread the Word Easily: Managing listings across different websites can be a hassle. But with automation, it’s a breeze. You can sync up all your listings with just a few clicks, reaching more potential guests without all the headache.
Make Smarter Choices: Automation isn’t just about saving time, it’s about making better decisions. By crunching the numbers and analyzing trends, you can tailor your strategy to fit what guests are really looking for.
Team Up for Success: Integrating with platforms like Rentals United can take your game to the next level. It’s all about staying ahead of the curve and making sure your properties get noticed in a crowded market.
Thrive in Any Situation: With automation on your side, you’re not just surviving, you’re thriving. You’ll be ready to tackle whatever the market throws your way and make the most out of every opportunity that comes knocking.
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Transcription:
“Hello and welcome to Part 2, where we delve into optimizing revenue and unlocking the full potential of your properties. We’ll take a holistic approach and discuss adapting to changing market conditions. I’m Giacomo Atzori, Head of Revenue Management and Partnerships at TurboSuite. In the competitive landscape of short-term rentals, automation in pricing and distribution plays a pivotal role in your success, particularly amidst increasing competition and fluctuating market conditions.
Today, we’ll cover three key points: automated pricing, automating distribution, and data-driven decision-making enabled by automation.
Automated pricing is crucial in navigating ever-changing market dynamics. Setting the right price at the right time can mean the difference between a booked property and a missed opportunity. Technology and automation allow us to dynamically adjust prices based on real-time market data, demand trends, and competitor analysis. Whether it’s a couple of properties nearby or the entire destination, automated pricing ensures agility and maximizes opportunities in a dynamic market.
Equally important is automating the distribution of your listings. Manually updating listings across multiple platforms is time-consuming and prone to errors. By leveraging automation tools that synchronize your property listings across various platforms, you can minimize errors and maximize exposure and conversion potential.
Automation tools not only save time but also facilitate data-driven decision-making. Insights gleaned from automated systems help you understand guest booking patterns, seasonal trends, and market shifts. This allows you to tailor your strategy with precision, both on a personal and market-wide level.
Integration plays a crucial role in this process. By integrating TurboSuite with Rentals United, we enable you to strategically align your business with the demands of the digital age, ensuring a proactive stance in the competitive landscape.
In conclusion, as you navigate this challenging landscape, remember the power of automation in pricing and distribution. It empowers you to make smart decisions and adapt to market conditions swiftly. Embracing these tools will not only help you survive but thrive in this dynamic world of short-term rentals.
Thank you for joining me as we explore these crucial strategies for your success.”