391. Revenue Management 101: How to Track Growth & Optimize Your Strategy

We’re unpacking the biggest announcement of Airbnb’s 2024 Winter Release — their new co-host network. The network opens up fresh opportunities for you to grow your co-hosting business and earn extra money or find the right co-host for your property. Either way, you’ll optimize your business with this free tool. We break down how the network works, requirements to be a co-host, and the approval process. Plus, we talk about more Airbnb Winter Release updates, from new messaging features to last-minute stays. (00:00:00) Introductions(00:01:26) #STRShareSunday: @hiwasseeriverretreat(00:06:05) Sarah & Annette’s Co-Hosting Journeys(00:08:30) Airbnb’s New Co-Host Network (00:12:20) Co-Hosting Opportunities For You (00:17:30) More Airbnb Updates Resources:• Click here for full show notes • Airbnb Winter Release: airbnb.com/release• Hotel Tonight app: txt.htltn.com/wPgRXh32SNb• #STRShareSunday: @hiwasseeriverretreat• Submit your property for our next #STRShareSunday at strshare.com• Video: Co-Hosting for Airbnb - How To Know You’re Ready • Airbnb Essentials Checklist: hostchecklist.comThanks for Visiting is produced by Crate Media.Mentioned in this episode:Superhog | Visit superhog.com/thanks-for-visiting and book your FREE demo today!Hostfully | Go to https://www.hostfully.com/influencers/thanks-for-visiting/ and use TFV100 to get $100 off your subscription.Host Checklist | Grab our Airbnb Essentials Checklist and make stocking your Airbnb a breeze – we've got all your hosting needs covered!

Welcome back to the Hosting Hotline! This is an Ask Me Anything where each week we’ll answer your questions on Airbnb, STRs, real estate, and everything in between.Shaina asks:I have a quick question related to bedding. In the summertime, I have some light, colorful quilts. Going into winter, I was thinking about switching to duvets with white duvet covers. I'm wondering if you think we need to update the listing photos.(00:00:00) Introduction(00:01:58) The Importance Of Attention To Detail (00:03:18) Photo Refresh Opportunities (00:05:22) Embracing Seasonality With Linens Thanks to everyone who submitted questions. To hear your voice on the show and send a question to Sarah and Annette, submit your burning hosting questions at: hostinghotline.com.Resources:• Click here for full show notes • Video: Affordable Bedding Must Haves For Five Star Airbnb Stays • Airbnb Essentials Checklist: hostchecklist.comThanks for Visiting is produced by Crate Media.Mentioned in this episode:StayFi | Go to www.stayfi.com and enter TFV to get 50% off your first three months.

Fall is in full swing and the holiday season is upon us. In this episode, we’re sharing six simple and seasonal strategies for your short-term rental. These tips will help you optimize your business, enhance your guest experience, and maximize your STR revenue. Apply these timely strategies now, and you’ll see the payoff for months — and years — to come! (00:00:00) Introductions(00:01:24) #STRShareSunday: @floridacamprentals(00:04:54) Maximizing Long Weekends (00:06:07) Preparing For Holiday Guests (00:09:22) Leveraging Local Events (00:13:33) Slow Season Strategy (00:17:26) Black Friday & Gap Night Promos (00:19:21) Coordinating With Your Team Resources:• Click here for full show notes • #STRShareSunday: @floridacamprentals• Submit your property for our next #STRShareSunday at strshare.com• Video: The Easiest Way to Add 25% More Profit to Your Airbnb Bookings• Make sure your property is fully stocked for the holiday season!: thanksforvisiting.comThanks for Visiting is produced by Crate Media.Mentioned in this episode:Minoan | Visit MinoanExperience.com and tell them TFV sent you!Hostfully | Go to https://www.hostfully.com/influencers/thanks-for-visiting/ and use TFV100 to get $100 off your subscription.Superhog | Visit superhog.com/thanks-for-visiting and book your FREE demo today!

Welcome back to the Hosting Hotline! This is an Ask Me Anything where each week we’ll answer your questions on Airbnb, STRs, real estate, and everything in between.Jenny asks:My first STR is undergoing some major construction, and we're hoping to launch it by this winter. I'm really lucky to say that I already have a social media presence as a travel and outdoor lifestyle blogger. We have around 50,000 followers across platforms, and I want to utilize this existing audience to promote the rental. But I don't want to change my handles. So what do I do? Do I create a separate account for the rental and start all over? Or do I somehow utilize what I already have?(00:00:00) Introduction(00:02:28) How To Weave Together Multiple Social Accounts (00:04:41) Leveraging SEO & Email Lists (00:08:04) Ensuring Your Content Resonates With Your Audience Thanks to everyone who submitted questions. To hear your voice on the show and send a question to Sarah and Annette, submit your burning hosting questions at: hostinghotline.com.Resources:• Click here for full show notes• Jenny’s Instagram: @girlof10000lakes• @arrowsandbow• Video: Marketing for Airbnb Hosts • Airbnb Essentials Checklist: hostchecklist.comThanks for Visiting is produced by Crate Media.Mentioned in this episode:StayFi | Go to www.stayfi.com and enter TFV to get 50% off your first three months.Quiz | Take our quiz to reveal your hosting personality style!Breezeway | Get Breezeway’s full guidebook, messaging, and operations tools for just $19.99 per unit per month!

We want to help you make more money. That’s why we’re sharing a simple tip that can add about $1,500 a month to your STR revenue. You can be making an extra 5 figures a year without doing anything extra.In this episode, we break down what a gap night strategy is and how to optimize it. We share the 4 pillars of a gap night strategy. Plus, we explain how to effectively price, automate, and market your gap nights. This strategy is a no-brainer and a win-win for both you and your guests. We’re excited to see you try it!(00:00:00) Introductions(00:01:28) #STRShareSunday: @goldiesbeachhouse(00:05:03) What Is A Gap Night Strategy?(00:09:21) Pillar 1: Knowing Your Numbers(00:14:00) Pillar 2: Understanding Your Booking Window (00:17:52) Pillar 3: Pricing Your Gap Night (00:23:03) Pillar 4: Shifting Your Mindset (00:25:18) Messaging Your Gap Nights Resources:• Click here for full show notes • Breezeway• minoan.com/tfvshowroom• #STRShareSunday: @goldiesbeachhouse• Submit your property for our next #STRShareSunday at strshare.com• Video: The Easiest Way to Add 25% More Profit to Your Airbnb Bookings• Airbnb Essentials Checklist: hostchecklist.comThanks for Visiting is produced by Crate Media.Mentioned in this episode:Hostfully | Go to https://www.hostfully.com/influencers/thanks-for-visiting/ and use TFV100 to get $100 off your subscription.Superhog | Visit superhog.com/thanks-for-visiting and book your FREE demo today!

Welcome back to the Hosting Hotline! This is an Ask Me Anything where each week we’ll answer your questions on Airbnb, STRs, real estate, and everything in between.Jonathan asks:We began hosting a few months ago. We are getting in the swing of things, and I feel like we have our basic operation figured out, but I'm starting to look at tech. There's so much out there. What tech did you add first to your business? Do I need any of it? (00:00:00) Introduction(00:02:14) Financial Software Everyone Needs (00:04:18) Tech For Safety & Security (00:06:29) Tech To Help Your Business Grow & Thrive Thanks to everyone who submitted questions. To hear your voice on the show and send a question to Sarah and Annette, submit your burning hosting questions at: hostinghotline.com.Resources:• Click here for full show notes • PriceLabs• Relay• Breezeway• StayFi• NoiseAware: Use code TFVNA20 for 20% off• Video: Top 7 Apps To Automate Your Airbnb Business • Airbnb Essentials Checklist: hostchecklist.comMentioned in this episode:Breezeway | Get Breezeway’s full guidebook, messaging, and operations tools for just $19.99 per unit per month!Thanks for Visiting is produced by Crate Media.Mentioned in this episode:StayFi | Go to www.stayfi.com and enter TFV to get 50% off your first three months.Quiz | Take our quiz to reveal your hosting personality style!

We can’t wait for you to hear this conversation with Stephanie West, the COO of HostWise. After beginning her journey as a cleaner, Stephanie co-founded and grew HostWise into a business with over $4M in sales. HostWise manages more than 100 units in Pittsburgh and has an overall rating of 4.93. In this episode, Stephanie shares her wise secrets for building a cleaning business and finding a great cleaner for your properties. She shares why cleaners are the most important role in STRs, and why you should cater to your cleaners. We also talk about streamlining communication between hosts and cleaners, staging advice, non-negotiable boundaries with clients, and successful pricing strategies. Plus, she tells us her #1 regret when starting her business — and how you can avoid it. This is a must listen for hosts, whether you’re starting out, growing your business, or looking for a new niche. (00:01:01) #STRShareSunday: @thewooderhouse(00:05:27) Stephanie’s Start In The Industry (00:14:38) Building A Cleaning Business (00:19:23) Streamlining Virtual Assistant/Cleaner Communications (00:22:44) Her Secrets For Finding A Great Cleaner (00:36:19) Non-Negotiables For Clients (00:42:35) Staging & Onboarding Advice (00:45:25) Successful Pricing Strategies(00:49:11) Her Secret Sauce To Starting Your Business Strong Resources:• Click here for full show notes• hostwisestays.com• steelcitystra.org• #STRShareSunday: @thewooderhouse• Submit your property for our next #STRShareSunday at strshare.com• Video: How to Clean Your Airbnb - A Walkthrough for New Airbnb Hosts • Airbnb Essentials Checklist: hostchecklist.comThanks for Visiting is produced by Crate Media.Mentioned in this episode:Superhog | Visit superhog.com/thanks-for-visiting and book your FREE demo today!Hostfully | Go to https://www.hostfully.com/influencers/thanks-for-visiting/ and use TFV100 to get $100 off your subscription.Minoan | Visit MinoanExperience.com and tell them TFV sent you!Owner Statements 101 | Save Your Seat: https://thanksforvisiting.com/courseHost Checklist | Grab our Airbnb Essentials Checklist and make stocking your Airbnb a breeze – we've got all your hosting needs covered!

Welcome back to the Hosting Hotline! This is an Ask Me Anything where each week we’ll answer your questions on Airbnb, STRs, real estate, and everything in between.Heather asks:I have a studio apartment that's attached to our house. We've had it on Airbnb since May of this year. I’m realizing I probably need an email address, domain name, and bank account for the rental. Should I have a Gmail business email, which costs money, or just create another free Gmail account? Any other advice? (00:03:48) How To Set Up A Bank Account For Your STR Business (00:05:58) Options To Create An Email Account & Domain Name(00:08:11) Why It Pays To Create An Inexpensive Landing Page Thanks to everyone who submitted questions. To hear your voice on the show and send a question to Sarah and Annette, submit your burning hosting questions at: hostinghotline.com.Resources:• Click here for full show notes • Relay: lets.bankwithrelay.com/thanks-for-visiting• Video: The Ultimate Guide to Setting Up Your Airbnb Business the RIGHT way• Airbnb Essentials Checklist: hostchecklist.comThanks for Visiting is produced by Crate Media.Mentioned in this episode:StayFi | Go to www.stayfi.com and enter TFV to get 50% off your first three months.Owner Statements 101 | Save Your Seat: https://thanksforvisiting.com/courseBreezeway | Get Breezeway’s full guidebook, messaging, and operations tools for just $19.99 per unit per month!

We’re thrilled to welcome Marc Hostovsky, the founder of Minoan — a brand that makes your property shoppable and helps you save up to 60% on furnishings. Minoan is a podcast sponsor and a longtime supporter of Thanks For Visiting. We use Minoan all the time to furnish and replenish our short-term rentals. They help us create beautiful, memorable experiences for our guests. In this episode, Marc tells us about something special the brand is launching — a new showroom that helps you showcase the amazing products you’ve curated for your property, so guests can purchase them for their own home. Minoan makes it easy to become a four-walled influencer. We chat with Marc about how you can grow your revenue and enhance customer loyalty as a four-walled influencer. We also discuss why you should invest in high-quality furnishings, how hosts can succeed in today’s attention economy, and the product recommendations that hosts rave about. (00:01:01) #STRShareSunday: @sandhollowsunrise_zionvacation(00:05:27) Introducing Marc & Minoan (00:08:47) Where You Should Invest Most In Your Furnishings (00:18:16) Brands & Products Hosts Rave About (00:30:40) Become A Four-Walled Influencer With Minoan (00:40:39) Growing Revenue & Customer Loyalty As A Four-Walled Influencer (00:46:25) Minoan's Replenishable Amenities Resources:• Click here for full show notes • Minoan Showroom: minoan.com/tfvshowroom• Instagram: @minoanexperience • #STRShareSunday: @sandhollowsunrise_zionvacation• Submit your property for our next #STRShareSunday at strshare.com• Video: Invest In Quality Airbnb Furniture • Airbnb Essentials Checklist: hostchecklist.comThanks for Visiting is produced by Crate Media.Mentioned in this episode:Superhog | Visit superhog.com/thanks-for-visiting and book your FREE demo today!Hostfully | Go to https://www.hostfully.com/influencers/thanks-for-visiting/ and use TFV100 to get $100 off your subscription.Host Checklist | Grab our Airbnb Essentials Checklist and make stocking your Airbnb a breeze – we've got all your hosting needs covered!

Welcome back to the Hosting Hotline! This is an Ask Me Anything where each week we’ll answer your questions on Airbnb, STRs, real estate, and everything in between.Danielle asks:I'm a new host. I would love for you guys to share some of those ‘aha moments’ of becoming first time hosts and falling into certain pitfalls. Can you share some examples where you have fallen for a trick or something to avoid while you're in your first stages of short-term rental hosting? (00:03:36) Hosting Lessons Annette & Sarah Learned The Hard Way (00:07:46) Planning Ahead & Booking Out Your Calendar (00:10:58) Guest Red Flags & Evolving Expectations Thanks to everyone who submitted questions. To hear your voice on the show and send a question to Sarah and Annette, submit your burning hosting questions at: hostinghotline.com.Resources:• Click here for full show notes • Video: Top 10 Mistakes To Avoid as a Beginner Airbnb Host • Airbnb Essentials Checklist: hostchecklist.comThanks for Visiting is produced by Crate Media.Mentioned in this episode:Quiz | Take our quiz to reveal your hosting personality style!StayFi | Go to www.stayfi.com and enter TFV to get 50% off your first three months.