Listen to just over 30 minutes of Michelle Hodges of Meyer Vacation Rentals explain how they made a strategic decision recently to turn off 100% of their VRBO and Homeaway listings. Yep, you heard it right. Bold. And she also discusses the beauty of giving away 50 vacations to guests while they were in house to celebrate 50 years of their successful company. Check out how they manage over 1,000 homes including the new hire of a Customer Service Manager charged with keeping all employees up to date with what Meyer stands for. #meyerinspired
Twiddy & Company has been in business over 40 years, with Clark and his brother now running it after their father passed the business down to them. In our interview with Clark, he shares his challenges with homes off the grid in the northern OBX, his philosophy around treating staff so that they “vote with their feet” everyday and stay with Twiddy, as well as some other interesting insights he has on mega-large-homes, and how to care for them on big turnover days. Enjoy the interview here.
In our series of interviewing other successful vacation rental company owners, we move to one of Sarah’s neighbors over in Keystone, Colorado. Peter Reeburgh co-founded Summit Cove Lodging with his wife Cheri over 14 years ago. We cover topics from building your own software, to why he puts towels on the beds vs. in the cabinets. But the main focus is on Owner Acquisition Marketing. Take a listen.
We got tired of hearing ourselves talk, so thought we’d change it up for awhile and interview other vacation rental company owners. Let’s see what they have to say about hot issues in our industry and their best practice ideas.
First up – Elizabeth & Mike from Book My Vacay in Scottsdale, Arizona. Together as a team, but not a couple, they manage over 150 large luxury homes and a few condos in Scottsdale but also spread out all over Arizona. We cover topics from how they have staffed up, how they are using technology to maximize profits and efficiency, and a lightening round of fast questions and answers!
In the spirit of the recent basketball tourney, we went with our final four of fiscally-focused advice for your vacation rental business. Take a listen.
This is Part Two of looking more closely at your budget and “squeezing” out more to the bottom line. This week we look at your income lines and discuss way to increase those amounts up to 10% which all goes to the bottom line.
Episode 19 (actually #7 of Season 6) focuses in on 10 Ways (Well, Tim added a very good #11 at the end) to increase your profit by reducing your expenses. This doesn’t meant you have to cut staff, or remove anything vital in your business. It means that at least once a year you should be examining how you spend money, reducing your vendor costs, and working to squeeze more money out of what you are already doing.
You can do it! Tim and I have, and continue to push to save while growing our businesses. Check it out.