How to Explain Changes in Revenue and Bookings to Your Homeowners
Alex and Annie: The Real Women of Vacation Rentals
English - July 05, 2023 10:00 - 47 minutes - 32.8 MB - ★★★★★ - 30 ratingsBusiness alex and annie alexandannie alexandanniepodcast alex & annie alex and annie podcast vacation rentals women in business travel hospitality short term rentals Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
In this episode, Alex & Annie are joined by a panel of experts to help guide you on a pressing topic - How to Explain Changes in Revenue and Bookings to Your Homeowners.
2023 is not turning out to be as profitable as expected for vacation rental managers, and naturally this is causing quite a bit of turmoil for property managers, especially those who got into the business during the golden years of 2020-2022.
That’s why today's Revenue Roundtable features Ben Coleman - Founder of Rev & Research, Vanessa Humes - Director of Sales & Marketing at InterCoastal Net Designs and Lance Stitcher - Broker/Owner at Seaside Vacations and Sales.
Some of the great insights discussed in this episode includes proactive, data-driven communication with your homeowners, as well as the importance of making sure you’re pricing appropriately for 2023 instead of making decisions like it’s still last year.
Whether you’re an individual property manager feeling the pressure of the current market, or a Vacation Rental company with hundreds of properties under management looking to safeguard your book of business - tune in to this episode to learn from our expert panel on exactly what steps to take to navigate the stormy seas of 2023 and beyond.
HIGHLIGHTS:
00:00 Introducing Today’s Revenue Roundtable
02:24 Setting Today’s Agenda - Revenue is Down, What To Do?
04:30 How a Data-Driven Approach Is Becoming a Necessity in This Market
08:42 Proactive Account Management is a Necessity & Homeowner Marketing Becoming a Priority
13:25 The Value of a Strong Social Presence
14:52 More on Proactive, Data-Driven Communication, and the Importance of Staying Ahead of your Homeowner
19:10 Understanding Local Market Conditions and Pricing Accordingly
20:10 Lance’s Approach to Educating Homeowners About Market Conditions
22:13 How to Set Expectations for The Upcoming Fall Season
24:16 Creating Demand as a Marketing Focus Point
26:54 Data As The Ultimate Revenue Team Alignment Tool
30:52 Ben’s and Lance’s Approach to Channels
35:05 The Value of Proper Communication Within Your Team
36:16 What Topics are Currently Underrepresented within Revenue Teams
38:24 Lances Prediction on How Inventory Will Shift From Investments to Residential Properties
40:30 Bens Predictions on How The Markets are Changing and his Strategy to Navigate What’s Ahead
45:02 How To Get In Touch With Today's Experts
This episode is brought to you by Casago, Guest Ranger, and Good Neighbor Tech.
Visit AlexAndAnniesList.com to view our top picks for the best suppliers in vacation rental technology and services.
Special thanks to Rev & Research for being the presenting sponsor of Alex & Annie’s List.
Connect with Ben:
Website | Linkedin
Connect with Vanessa:
Website | Linkedin
Connect with Lance:
Website | Linkedin
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