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