Mark Simpson and Danny from Optimize my bnb discuss how Airbnb hosts in places like California and New York can adapt to changing booking patterns. They explore tourism's impact on local economies, particularly in Bali, and share strategies for hosts to increase income as travel patterns shift.
You know, I talk to my friends in the US My friend who I'm with now is Australian. Her friends in Australia, they're scared, they're terrified. And the people here, they're not really at all.
I invited on Danny from Optimize my bnb.
Thanks for having me on. I am Danny. I run optimizemybnb.com six years ago, I think I started working for Airbnb employee number 700. Since then I've become a host, a super host, a I worked for an Airbnb property manager. I started my own Airbnb property management company. 2017 I started living full time in Airbnbs. I'm sitting right now in an Airbnb in Bali. I started off in January in Thailand, in Chiang Mai in Thailand. And this is when I first heard about Corona from my dad. He said, hey, come home now. I'll even pay for your flight. It's important to note that this economy is based on tourism. Basically you could consider 100% of this economy is tourism. Whether you're, whether you're a restaurant owner, whether you're renting motorcycles, whether you're a taxi driver. A lot of this economy, I think I even heard a stat 85% is based on tourism.
What is the current state of play with California and New York? We had Julian Sage, who's based in Washington on last night. He's got his properties in Washington. But how is the current state of play in New York and California with terms of getting bookings or having bookings late in the shop? A really good blog on this about planning and pricing for the off peak. Obviously I'm going to put the links that people can go and get the overview of it. But if you could just sort of give some and guidance and just sort of break down that blog, the thinking behind it and what people can be doing, you know, say they don't have price labs or whatever. What are some of the main takeaways that you got from writing that blog and what can you share with everyone?
Make your listing more flexible as you can, whether that be lower your cancellation policy, lower your minimum nights, lower your pricing. Of course, do not cancel.
The one big takeaway from all of this is that even if you see a cancellation come through, it doesn't mean that it's lost revenue.
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