Short Term Rental Secrets Podcast
Mike & Mike Ep 9 - Update on Mike's New Hotel
Oct 11, 2023
Learn about the progress and challenges of a new hotel project including setbacks and delays due to approvals. Discover how the hosts found their co-hosting business partners through a real estate meetup. Explore the tools used for revenue management and a potential new project involving an old schoolhouse. Find out the benefits of being in a room with like-minded individuals and explore a case study on the first hotel.
22:07
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Quick takeaways
- Creating a standout experience within the property itself attracts various types of vacationers and business travelers in the short-term rental industry.
- Maximizing space and amenities, such as full kitchens and outdoor amenities, helps protect profitability throughout the year in short-term rental properties.
Deep dives
Creating a Better Experience: The Importance of Unique and Immersive Features
The podcast episode discusses the significance of creating a standout experience for guests in the short-term rental industry. While the location may not always be competitive, the focus is on providing a memorable and unique experience within the property itself. By investing in quality design and incorporating themed rooms, the hosts aim to differentiate their properties from others in the area. The themed rooms, such as the under the sea room and the forbidden forest room, offer an immersive and one-of-a-kind experience for guests. This strategy of focusing on the guest experience rather than the location has proven to be successful, attracting various types of vacationers and business travelers.
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