All Forum Posts by: Michael Greenberg

@Leo Poon I'm not 100% sure yet, will depend upon building codes and a few other potential code/zoning issues.  Have to find the land still.  Would prefer "pads" over "wheels".  When you get your BNB up and running send me the link, love to check it out.

@Leo Poon following as well - I've been thinking about this very concept with tiny houses and a gathering house, this concept will be fabulous and best of luck!

Mike

@John D. Thanks for the input.  My condos are at 78% occupancy so I rarely need to provide last minute discounting, I'm good with that occupancy number.  I try not to discount too aggressively as it always seems that the guests who pay the least, damage the most.  I am adjusting my condo rates up as I agree, they are likely too aggressively priced.

Mike

My properties are quite seasonal as well @Mark S.  HUGE price swings from Low to High Season and I hope to just cover my cost in low season.  You're spot on, I just ran a chart and it shows low season booking within a shorter time-frame than high season.  Good input, thanks!

@Luke Carl Interesting, I am looking at other locations that are "drive in" vs. "fly in" - good stuff, thanks.

@Paul Sandhu Would you consider yourself an STR Hotel operator? Interesting concept, would like to have multi-tenant/family units.

Thanks @Luke Carl, that's a wedding photo from last month :-)  "The ol' gray mare ain't what he used to be".

@Kevin Lefeuvre Excellent point, I will adjust for weighted average.  It's interesting to note that there appears to be no correlation between property type as well, e.g., Oasis and Opulence are condos, Sanctuary is a big house.  I have another big house that has just come online and I will see over time if this continues to hold true.

@John Underwood I hear ya', not much time to play, especially during high season.  Yes, I'm using VRBO's tools to price though I just fired an email off to the community about changes that might help.  

Thanks!

Added to my list - thanks!

I'm a data guy (nerd), and I like and I track anything that might help drive my STR business. One data point that helps me "Stay Calm and hold that rate" is tracking how far in advance my guests book and I thought I would share my results for (3) of my properties that were available for the entire year. I track it by OTA (ABB and VRBO) and Direct bookings. The interesting thing I find, is that the OTA's want you to believe that a high percentage of bookings happen a short time prior to the guest stay. I don't see that happening. Maybe I price my places too competitively early on, but since I'm a data nerd, I am constantly checking my competitors rates, so I think I hold the line pretty well. What are your DIA's and do you think this data point is relevant in your market?

Yep, "check's in the mail".  My favorite is some of the names they use and their grammar.  It's an area that VRBO needs to improve upon including "vetting" potential guests where Airbnb has a better solution.

Hi Peter,

I haven't researched this type of package as I'm solely an STR operator, but search for a site called Capterra on the web. I've been using this to sort through STR packages myself and I would think at least of few of them could do LTR's as well.

Mike

@Luke Carl I'm just glad I'm far, far away from you right now :-)