Tom Lyons - Revenue Management Strategies - podcast episode cover

Tom Lyons - Revenue Management Strategies

Dec 19, 202328 minEp. 113
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Episode description

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This episode is Sponsored by MarketMySTR.com the STR Industries #1 marketing platform.


Host Bill Faeth welcomes Tom Lyons, revenue management expert from Casado.


Tom's Background:


Transition from script supervisor to success in revenue management.

Worked with W Hotels, Hilton, and joined Casado.


Casado: a community focusing on short-term rental improvement.

Offers franchise and management models for market support.


Discussion on Upcoming Conference:


Tom's excitement about the February conference.

Emphasizes networking and learning from experts.


Understanding Revenue Management:


Revenue management: getting the best rate at the right time.

Adjusting prices based on demand and supply.

Understanding booking windows for properties.


Competitive Sets:


Defining competitive sets based on various factors.


Dynamic Pricing Tools:


Mention of tools like PriceLabs, Wheelhouse, and proprietary Casado tool.


Value-Based Pricing vs. Price-Conscious Buyers:


The psychology of pricing and buyer perceptions.

Importance of understanding buyer types.


Advice for New Co-Hosts and Owners:


Tom recommends deep property analysis, identifying competitors, and utilizing tools.


Watch this episode on our Youtube Channel Every Tuesday & Friday

https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA

The Free Build STR Wealth Facebook Group: https://www.facebook.com/groups/284886002732508

You can find more of Bill online at:

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Build STR Wealthhttps://buildstrwealth.com/

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