295. ChatGPT X Airbnb? Learn How To Utilize AI in Your STR Business
Oct 5, 2023
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Amy Tang, founder and CEO of Folio, talks about leveraging AI in the STR business. Topics include recommendation engines, AI tools already in use, and the future of AI-enabled rentals. Folio helps hosts create digital guides for an exceptional guest experience.
AI technology can enhance guest experiences by assisting hosts with tasks like writing listings and providing personalized recommendations.
AI should be used to enhance the host's personal touch and brand, not replace the human element of hospitality.
Deep dives
Using AI to Enhance Short-Term Rental Experiences
AI technology, such as chat GPT, can be leveraged by short-term rental hosts to enhance guest experiences. The technology can assist hosts in various ways, including writing compelling listing descriptions, crafting engaging email content, and providing personalized recommendations to guests. It can also enable hosts to automate certain tasks, such as dynamic pricing and customer service responses. While AI offers a range of benefits, it is important for hosts to use it responsibly and understand the limitations. AI should be seen as a tool to enhance the host's personal touch and brand, rather than replace the human element of hospitality.
The Role of AI in Hospitality
AI is increasingly being integrated into the hospitality industry, including short-term rentals. One prominent application is dynamic pricing, which uses data to optimize rental rates based on market trends. Automated chatbots are also becoming more prevalent for customer service interactions. However, it is crucial for hosts to strike a balance between AI and human touch. While AI can streamline processes and improve efficiency, it is the authenticity and personalization provided by hosts that ultimately create a memorable guest experience.
Introducing Folio: Enhancing the Guest Experience
Folio is a digital guide for short-term rental hosts that helps automate and personalize guest experiences. It offers features such as property information, check-in/out instructions, Wi-Fi passwords, and local recommendations. In addition, Folio is launching new capabilities, such as add-on services, allowing hosts to offer extras like pre-stocked fridges or late checkouts. The platform simplifies transactions through secure payment processing, ensuring a seamless and convenient experience for both hosts and guests.
TF Econ: Exploring AI in the Short-Term Rental Industry
Amy Tang, the founder and CEO of Folio, will be attending TF Econ, an event dedicated to the short-term rental industry. At the event, she will be available to discuss AI and its applications in the industry. Hosts can approach her with questions, seek advice on optimizing guest experiences, and learn how to incorporate AI tools effectively. TF Econ offers a valuable opportunity to engage with experts like Amy and gain insights into leveraging AI technology in short-term rentals.
Hello and welcome to another episode of Thanks for Visiting. Our guest today, Amy Tang, is the founder and CEO of Folio, a platform used by professional hosts to create sleek digital guides that share rental information and local recommendations with guests.
Before jumping into the hospitality space, she spent 5 years as a management consultant specializing in data science solutions, building AI-enabled tools for large Fortune 500 companies – so she’s the perfect dual-informed expert for us to learn from on this complicated subject.
We talk to Amy about what AI is and how far it’s come in the last ten years, how we can leverage it while operating STR businesses, recommendation engines and how they can improve guest experience, what AI tools we’re already using (think, dynamic pricing and iMessage), and what the future holds for AI-enabled rentals.
Her company, Folio, is filling this gap in the market – modernizing the way professional hosts run their businesses, starting by helping them deliver an exceptional guest experience. Hosts can create digital guides to proactively share information and offer additional services to guests, saving hosts time and making it easy for them to earn additional revenue. Get Folio today – use the code TFVFAM for 2 free months.