Get Paid For Your Pad | Airbnb Hosting | Vacation Rentals | STR Revenue Management Takeaways from STR Legends Cartagena
“2020 is going to be the year of the professional host, regardless if you’re running one unit or if you’re somebody that’s trying to hit a hundred or a thousand units. All of it, the standards need to be world-class at this point. We have to truly treat even one unit as a real business.”
Eric Moeller is the creator of Cohost Mastery and the cofounder STR Legends Live. Today, Eric and I sit down to discuss our top takeaways from STR Legends Cartagena, describing the trend toward professionalism in the industry and the challenges around operations that all hosts share regardless of size.
Eric and I weigh in on how to approach your STR as a business, sharing Simon Lehmann’s challenge to define your values and align your messaging accordingly. Listen in for insight on how big brands are likely to impact the future of the STR industry and learn how YOU can benefit from the culture of sharing among the STR Legends community!
Topics Covered
The Hosting at Scale Video Series
- Four episodes, each feature one operator
- Explore what makes them legend in space
Eric’s top takeaways from STR Legends Cartagena
- Shift to professionalism
- Operations + people = greatest challenge
The evolution of operating in the STR space
- ‘List it and forget it’
- Listing optimization
- Approach from business perspective
How to stand out as a host as competition grows
- Determine USP (i.e.: standards, theme, etc.)
- Design messaging to attract ideal client
Simon Lehmann’s STR Legends Cartagena challenge
- Describe your business in one sentence
- Who are you and what are your values?
The culture of sharing at STR Legends Cartagena
- Authentic connection among community
- Value openness, integrity and support
What we learned about the future of the STR space
- Larger companies buy out midsize operators
- Must understand profitability to thrive
- Efficiencies of scale offer competitive advantage
Why vacation rental hosting is a hyperlocal business
- Knowledge of area important in hospitality
- Opportunity for small hosts (personal connection)
Connect with Eric
Resources
Traction: Get a Grip on Your Business by Gino Wickman
Who by Geoff Smart and Randy Street
Email jasper@getpaidforyourpad.com
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