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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.
Takeaways
- Jairo Osorno's journey from a single unit to managing 51 listings
- Challenges and changes in the short rental industry over the past decade
- The impact of COVID-19 on the master leasing model and revenue management
- The importance of operational support and family involvement in the business
- Strategies 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.
Chapters
00:00 The Journey of Del Carmen Hospitality: From Single Unit to 51 Listings
04:45 Challenges and Changes in the Short Rental Industry
11:29 Navigating Market Challenges: The Impact of COVID-19 and Revenue Management
25:35 Maximizing Revenue in Short-Term Rentals: Pricing Strategies and Booking Windows
35:37 Optimizing Operations and Marketing for Short-Term Rental Properties
42:20 The Role of Virtual Assistants in Property Management
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