Steve Davis predicts that STR managers will need AI and automation to handle guest experiences before, during, and after stays. He says five-star reviews and upsells for early check-in, late checkout, and curated experiences are how you maximize revenue per property.
And heading into 2025 and playing with all the new AI that's out there. Managers who are embracing some of the new technologies are setting themselves up for success. We're seeing some incredible step forwards in automation in the use of concierge type services where we can make sure that guests are having that curated experience and making sure that the guests are ultimately being communicated or getting the information that they need before they arrive when they're actually staying with you, and then also once they've left, making sure that they're taken care of as close to a five star experience as they can get. Because, you know, if you cater to a guest well, the downstream effect of that is obviously you're going to get five star reviews and you're also going to have, you know, word of mouth. Another thing too is it's really just a grappling with this whole notion of upsells and money being left on the table. I think that, you know, when you get a guest that stays with you, there's, there's a wallet there that is looking to spend some money and how do we capture greater share of wallet is going to be another core consideration. It's not really about how many units you manage, it's can you actually squeeze as much lemon juice out of those properties as possible. And some of the most successful property managers are really starting to get that. So whether it's basics like early check in, late checkout, but also just be curated experiences and if you can help guests really navigate their stay all the way through to making sure that they're learning and seeing the most amazing spots and you're really the conduit to unlocking great stays.
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