How we increased RevPAR 30% for Del Carmen Hospitality

Apply for our revenue management service at https://freewyldfoundry.com/rpm/. Jairo Osorno, founder of Del Carmen Hospitality, shares his journey in the short rental business, from starting with a single unit to managing 51 listings. He discusses the challenges of the master leasing model, the impact of COVID-19, and the importance of revenue management. Jasper Ribbers, host of Get Paid for Your Pad, explores the evolution of the short rental industry and the strategies for success in the current market. The conversation covers revenue management strategies for short-term rental properties, focusing on pricing, booking windows, and operational optimization. It also delves into the importance of marketing, distribution, and the role of virtual assistants in property management. The discussion provides valuable insights for hosts and operators looking to maximize revenue and streamline operations in the short-term rental market.TakeawaysJairo Osorno's journey from a single unit to managing 51 listingsChallenges and changes in the short rental industry over the past decadeThe impact of COVID-19 on the master leasing model and revenue managementThe importance of operational support and family involvement in the businessStrategies for success in the current short rental market Short booking windows can lead to last-minute bookings at lower prices, impacting revenue.Changing pricing strategies and leveraging early bird promotions can drive bookings further in advance.Completing Airbnb listings with detailed information and optimizing categories can improve search visibility and conversion rates.In-house operations and standardized amenities can provide flexibility and efficiency in property management.Hiring virtual assistants with industry experience and attention to detail can support operational tasks and guest communication.Chapters00:00 The Journey of Del Carmen Hospitality: From Single Unit to 51 Listings04:45 Challenges and Changes in the Short Rental Industry11:29 Navigating Market Challenges: The Impact of COVID-19 and Revenue Management25:35 Maximizing Revenue in Short-Term Rentals: Pricing Strategies and Booking Windows35:37 Optimizing Operations and Marketing for Short-Term Rental Properties42:20 The Role of Virtual Assistants in Property Management Hosted on Acast. See acast.com/privacy for more information.