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.

Angela asks:

One of my properties has a 60% direct booking rate. I'm trying to figure out the best way to adjust my pricing so that my net earnings on a direct booking is slightly higher than when guests book through a third-party platform.

Right now, if I get an Airbnb booking, I pay 3% commission to Airbnb. If I get a direct booking, I pay a 3% commission to Stripe in credit card fees. So I net the same either way, it's only the guest that saves money by booking directly.

I know I can add a booking fee for direct bookings that would increase my bottom line, but I think a long list of fees is a turnoff for guests. I'm curious what's worked for you and what percentage do you add, if any, to your direct booking rate so that you're netting more?

(00:02:03) How Can I Boost Bottom-Line Revenue via Direct Bookings?

(00:03:39) Reframing the Inherent Value of Captured STR Customer Data

(00:05:26) Leveraging PriceLabs Dynamic Pricing to Boost Revenue

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

• Check out PriceLabs: Start your 30-day free trial

• Angela's properties: lazypinesnm.com

• Video: Dynamic Pricing Software for Airbnb & Short Term Rentals

• Airbnb Essentials Checklist: hostchecklist.com

Thanks for Visiting is produced by Crate Media.

Mentioned in this episode:

Quiz | Take our quiz to reveal your hosting personality style!

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 officially unofficial Money Making May, where we have a full month’s worth of content all around pricing profitable properties with PriceLabs!

Today’s expert guest is our very own Chief Operating Officer, Colleen Prochaska! Colleen brings over ten years of hospitality experience as a hotel General Manager for Marriott and Hilton brands to Thanks for Visiting. Her passion lies in supporting guests' experiences and mentoring associates throughout her career. Her philosophy entails equipping the team with tools, providing clear communication, and ensuring success for all.

She’s here today to walk us through a lightning-fast masterclass on revenue management for short-term rentals – highlighting the mind blowing features and money-making capability of our dynamic pricing partner, PriceLabs, along the way.

PriceLabs helps you make more money than you would without it. It's a rare piece of operational software that brings with it an immediate ROI – the holy grail of any business investment, especially when you’re operating on a tight budget or just starting out.

Come for the money-making tips, but stay as Sarah and Colleen air out some dirty laundry on a big mistake we made in Q1 of this year. We are, if nothing else, open and honest in our mission to make you more money on your STR journey!

(00:01:21) #STRShareSunday: @trimbellecottage

(00:03:15) Colleen’s Revenue Management Tips via PriceLabs

(00:20:00) Bigger Picture: Monthly & Annual Pricing Adjustments

(00:27:05) Practical Example of STR Revenue Management Concepts

(00:33:12) We Made This STR Pricing Mistake So You Don’t Have To

Resources:

• Click here for full show notes

• #STRShareSunday: @trimbellecottage

• Check out PriceLabs: Start your 30-day free trial

• Taking Calculated Risks in the STR Industry with Our Chief Operations Officer #271

• Video: Dynamic Pricing Software for Airbnb & Short Term Rentals

• Airbnb Essentials Checklist: hostchecklist.com

Thanks for Visiting is produced by Crate Media.

Mentioned in this episode:

Host Checklist | Grab our Airbnb Essentials Checklist and make stocking your Airbnb a breeze – we've got all your hosting needs covered!

Minoan | Visit MinoanExperience.com and tell them TFV sent you!

IMN | Go to events.imn.org/strsummer and use code: TFV for an exclusive 10% off your new registration.

Hostfully | Go to https://www.hostfully.com/influencers/thanks-for-visiting/ and use TFV100 to get $100 off your subscription.

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.

Samantha asks:

What's your take on grills at a short-term rental? I always wanted to stay away because I'm terrified someone will burn down our brand new houses. But we recently had an upcoming guest ask if we had a grill, and they were pretty bummed out that we didn't offer that. Then, they asked us if we could provide one for them. Are we missing out on potential clients? Is it worth it? We would love your insight on this.

(00:01:48) Intro to Grilling at Vacation Homes (Yes, You Need One)

(00:03:10) BTS of Sarah’s Gulf Shores HGTV Experience

(00:05:04) Recommendations for an Airbnb Grill Amenity

(00:06:02) Safety First! How to Encourage Safe Grilling

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

• Check out Breezeway

• HGTV: Sarah and Nick on Beach Flip

• Video: How To Create An Airbnb Audit - Inspector Checklist

• Airbnb Essentials Checklist: hostchecklist.com

Thanks for Visiting is produced by Crate Media.

Mentioned in this episode:

Host Checklist | Grab our Airbnb Essentials Checklist and make stocking your Airbnb a breeze – we've got all your hosting needs covered!

Quiz | Take our quiz to reveal your hosting personality style!