The Short Term Show Inside the Mind of a Revenue Management Pro with Jake Cohen
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Dec 3, 2025 Jake Cohen, founder of Step by Step BNB and a hospitality pro, shares insights from nearly a decade in revenue management. He discusses the common pitfalls investors face, notably overpricing and misunderstanding pricing strategies. Jake emphasizes shifting the mindset from nightly rates to total revenue, revealing how strategic minimum stay adjustments can boost bookings. He also highlights the importance of using dynamic pricing and data-driven strategies, along with key lessons from his early experiences in short-term rentals.
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Hospitality Beginnings Shaped Career
- Jake grew up living and working in his parents' Lake Tahoe bed and breakfast which taught him hospitality from age 10.
- He later ran a Palm Springs B&B, won hospitality awards, and transitioned into short-term rentals and revenue management.
First STR Win Sparked Revenue Focus
- Jake bought a renovated Steamboat duplex and refused low manager estimates, so he self-managed pricing and crushed revenue expectations.
- That first property made him pursue dynamic pricing full time after earning far more than local estimates.
Price For Total Revenue, Not Per Night
- Shift focus from per-night break-even to total monthly revenue to spot upside from filling otherwise empty nights.
- Lower slow-night rates to convert empty days and substantially increase overall revenue.
