“Should I add a hot tub to my Airbnb?” - Every host without a hot tub

Have you ever pondered whether the inclusion of certain amenities could truly bolster your revenue?

If you're running a short term rental, you're running a business. Sustaining and expanding such an endeavor necessitates strategic investments and ongoing enhancements. Investing money without a purpose or plan is a surefire way to lose money, or even lose your business.

Data from STR Insights can help guide you in making decisions on what amenity to invest in, or how much to invest.

Let us show you how.

What is STR Insights?

STR Insights is an online data platform designed to help investors choose markets and properties for investing in their next (or first!) short term rental. However, there's a lot of helpful information found in the platform that can help investors with their current properties.

Explore various markets to access individual listings alongside their respective 12-month revenue total. Export this dataset for a deeper dive, uncovering comprehensive details pertaining to each listing, including the spectrum of amenities offered.

(Sorry if this post reads like an advertisement for STR Insights; it's not. We have no affiliation and receive no compensation from them. We just find their data really useful!)

Leveraging Our Analytical Spreadsheet

You don't have to be a data nerd or a spreadsheet guru to take advantage of the information STR Insights can provide. We've done the legwork for you!

We've created a Google Sheet where all you need is an STR Insights account and the ability to open an excel document and copy and paste the data into our document. Piece of cake!

What Can Our Spreadsheet Accomplish?

When you are done copying and pasting your STR Insights information into our document, you'll have the ability to look at data for a specific amenity. Select your desired bedroom count, amenity of interest, and optionally, a specific zip code for a hyper-local analysis.

With those inputs selected, you will see:

1. Revenue figures

2. Occupancy rates

3. Average Daily Rates (ADR)

A comparative overview will delineate performance metrics between listings with and without the selected amenity. Additionally, the dataset's size will be indicated, underscoring the relevance and robustness of the results.

Eager to Explore Further? Access Our Google Sheet Here:

https://docs.google.com/spreadsheets/d/1uBrk9DDfZErW34TplJkolk5_UmPxq0DZUVXBusnKWRI/edit?usp=drive_link

You will need to make a copy and save to your own Google Drive account in order to edit it. Instructions can be found on the sheet itself.

"Should I add a hot tub to my Airbnb?" Now you'll know!

• Any questions? Head on over to our Facebook group and ask away!

  @STRTechTalk