Tom Lyons - Revenue Management Strategies

StayFi | Use Code BILL to Get 50% Off Your First 3 Months with StayFi! 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: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices

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Ready to build your Short Term Rental wealth? Learn more at: https://buildstrwealth.com/. Short Term Rentals have been a game-changer for the real estate industry. And no one knows this better than Bill Faeth. As a successful Short Term Rental Investor and Host, Bill has seen firsthand how powerful the Short Term Rental model can be. And now, he's sharing his knowledge with the world through his new podcast, STR Unfiltered. On each episode, Bill breaks down the ins and outs of Short Term Rental Hosting, giving listeners actionable advice that they can use to take their businesses to the next level. Whether you're just starting in Short Term Rentals or looking to take your business to new heights, STR Unfiltered is a must-listen. So what are you waiting for? Tune in today and learn from the best in the business!