Mark Simpson (speaker) explains that in 2024 investors should not invest blindly but can use software tools—specifically AirDNA combined with PriceLabs—to research locations and properties, derive pricing strategies, and thereby increase revenue per booking, average daily rate, and overall profits. The chunk is an opening case-study claim about combining data sources to maximize ROI.
There is no need in 2024 to invest blindly with software and solutions like Airdna, you get a head start, and it just means now, when you're looking to invest in a new location or in a new property, you can find out all the information that you could possibly need that will give you all of the confidence that you're whatever you're putting your money into is going to get you the highest return of investment. The way we used airdna in this case study was to combine it with the data we were getting from Price Labs. So we didn't just rely on one place to get our data, we combined it with Air DNA and that's how we were able to come up with our pricing strategy. That resulted in more revenue per booking, a higher average daily rate, and end of the day, higher P and LS.
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