Good Morning Hospitality

Sustainability is a word that gets thrown around for better or worse but in this episode, the full Good Morning Hospitality crew hops on the broadcast to share thoughts and insights about financial sustainability within the industry and how companies that focus on 2021 revenues as a benchmark are more than likely to have a brutal wake up call. Wake up with us every Monday morning at 7am PST and 10am EST - this is the one morning show you don't want to miss!Industry News:  Placemaker raises $65M (Link) STR Wealth Conference - was awesome & excited for 2024! (Wil) Expedia & Kayak are first with ChatGPT plugins (link) Interesting Acquisition by Steller (Link) AirDNA’s Fact of the Week: Is it already time to book your summer vacation?!The short answer is yes. Get those flights now! But when it comes to short-term rentals, on average, guests saved about 9% by booking two weeks in advance instead of more than six months in advance. And if you’re a host looking to shore up your occupancy, consider lowering your prices as the date gets closer. Show Notes: HFM Merch Store! 10% off for GMH listeners that use this link TravelNet joins GMH as an official sponsor! Click this link to check out their special offer for our listeners!AirDNA also joins GMH as a sponsor! Register for a free account, then search the market you want to purchase and enter the discount code: GMH20 at check-out!—Good Morning Hospitality is part of the Hospitality.FM podcast network and a Hospitality.FM production.This show is structured to cover industry news within all of travel/hospitality and is recorded live every Monday morning 7am PST/10am EST so make sure you tune in during our live show on our social media or YouTube and join the conversation!Thank you to all of the Hospitality.FM Partners that help make this show possible and if you have any press you want covered during the show, fill out this form! Learn more about your ad choices. Visit megaphone.fm/adchoices

One Breaking News announcement and a podcast episode later, we're thrilled to see our show continue to grow as a leading news source for the hospitality industry. In this episode we invited Tim Rosolio who is the Vice President of Vacation Rental Success at Expedia Group (Vrbo) to discuss their moat as a platform as Brian Chesky, CEO of Airbnb, recently shared their interest in sponsored listings on their platform. Something Vrbo is already utilizing on their platform.Industry News:  Airbnb wants to deepen the moat (link) Mint House Appoints Lee as New CEO (Link) Operto Closes Series B Funding at $25M and Sam Shank joins their Board AirDNA’s Fact of the Week: Where are folks going for Spring Break? Here are the top 5 most popular destinations during March/April 2023 and their growth in demand from 2022.The top 5 U.S. markets based on bookings for March/April 2023 are:  Orlando, FL (-12%) Phoenix/Scottsdale, AZ (+40%) Gatlinburg/Pigeon Forge, TN (+17%) Panama City, FL (+14%) Miami, FL (+3%) Top 5 U.S. Markets where demand has grown the most in March/April 2023 compared to 2022 are: Jersey City/Newark, NY (+41%) Phoenix/Scottsdale, AZ (+40%) Minneapolis, MN (+38%) The Hamptons, NY (37%) Chicago, IL (+35%) Cape Cod and The Hamptons are the markets where ADR has grown the most year over year, at 43% and 28% respectively. Show Notes:  HFM Merch Store! 10% off for GMH listeners that use this link TravelNet joins GMH as an official sponsor! Click this link to check out their special offer for our listeners! AirDNA also joins GMH as a sponsor! Register for a free account, then search the market you want to purchase and enter the discount code: GMH20 at check-out! Learn more about your ad choices. Visit megaphone.fm/adchoices

We are putting our co-host, Brandy Canaley, and Andreas King-Geovanis in the hot seat as our guests this week to uncover the story behind the rebranding (previously Sextant Stays) to Roami and how raising capital has and will impact their business in the current industry landscape!Industry News:  SVB Closes : The 2nd biggest bank crash in history (link) Signature Bank also closes March 12th  Storied Collection (Michael Goldin, Co-Founder) was featured on CNBC! Highlighting their business and unique proposition for historic travel. (Link)AirDNA’s Fact of the Week: What short-term rental markets are seeing the most demand this year?  Small city, suburban, and mid-sized cities have the highest growth rates at around 20% YoY growth based on January data.  Urban and mountain locations grew 15% YoY lagging only slightly behind.  This includes cities like Scottsdale, AZ, Las Vegas, NV, Palo Alto, CA and Breckenridge Colorado.  Show Notes:  HFM Merch Store! 10% off for GMH listeners that use this link TravelNet joins GMH as an official sponsor! Click this link to check out their special offer for our listeners! AirDNA also joins GMH as a sponsor! Register for a free account, then search the market you want to purchase and enter the discount code: GMH20 at check-out! Learn more about your ad choices. Visit megaphone.fm/adchoices

With more and more conferences, the GMH crew is broadcasting from multiple locations as they dive into industry news and the main topic of Banning Guest from Booking Platforms.Industry News:  LMPM is acquired by Inhabit (link) Sonder layed off another 14% + stock hitting rock bottom to $.87 (link) STR Safety: Child dies of drug overdose in STR (link) Accor Co-Founder dies at 91 years old (link) AirDNA’s Fact of the Week: We pulled some data on when to get the lowest prices for STRs, based on lead times. On average it's best to wait 2-4 weeks in advance of the trip to get the lowest rate, though the median lead time in 2022 was roughly 33 days (down from 40 days in 2019), so if you wait until 4 weeks in advance of a trip to book, only half of the homes that were available are still available. On average, guests saved about 9% by booking 2 weeks in advance instead of more than 6 months in advance.The only location type where we see any saving for last minute bookings (less than a week in advance) is in Urban locations, where lead times are the shortest, averaging 24 days in 2022.Show Notes:  HFM Merch Store! 10% off for GMH listeners that use this link TravelNet joins GMH as an official sponsor! Click this link to check out their special offer for our listeners! AirDNA also joins GMH as a sponsor! Register for a free account, then search the market you want to purchase and enter the discount code: GMH20 at check-out! Learn more about your ad choices. Visit megaphone.fm/adchoices

Jamie Lane, Michael Goldin, and Wil Slickers get behind the mic to talk about the earning calls between the big platforms and hotel brands and talk about what they're all looking to invest in the future.AirDNA’s Fact of the WeekWhat are the best places to invest in short-term rentals?  Small and mid-sized cities continue to dominate the AirDNA Best Places to Invest list, which now features a regulation score from Revedy. This list features hidden gems with a focus on places with the highest profit potential.  Who made it on the list?  #1 - Fairbanks, Alaska - this location scored a 1/10 for regulation risk (meaning it’s very low risk). The average full-time STR earns $49K annually with an average daily rate (ADR) of $198.  #2 - Evansville, Indiana - Home values in Evansville are relatively low at $116K. With an average daily rate of $129, full-time STRs can expect an average $27K of annual revenue. It also scored a 1/10 for regulation risk.  #3 - Rockford, Illinois - Its eclectic attractions allow the city to maintain an ADR of $175 and an average of $39K in annual revenue. Show Notes:  HFM Merch Store!  10% off for GMH listeners that use this link TravelNet joins GMH as an official sponsor! Click this link to check out their special offer for our listeners! AirDNA also joins GMH as a sponsor! Register for a free account, then search the market you want to purchase and enter the discount code: GMH20 at check-out! Learn more about your ad choices. Visit megaphone.fm/adchoices

From OTA booking increases to European Golden Visas coming to a stop/pause, we dive into more than your tipical topics this week and share our thoughts on the world of hospitality!Industry News:  Autohost raises pre-seed funding (Link) Sojo raises $6.2M Series A (Link) AirDNA’s #notabust Fact of the Week:How did the Superbowl impact bookings in Phoenix?  48% more nights were booked than on the same weekend the previous year All that demand pushed average daily rates up to a whopping $747 (45% higher than the same weekend last year).  What’s the takeaway? The Super Bowl effect helped STR owners in Phoenix garner a hefty premium for rates while maintaining strong occupancy.  Show Notes:  HFM Merch Store!  10% off for GMH listeners that use this link TravelNet joins GMH as an official sponsor! Click this link to check out their special offer for our listeners! AirDNA also joins GMH as a sponsor! Register for a free account, then search the market you want to purchase and enter the discount code: GMH20 at check-out! Learn more about your ad choices. Visit megaphone.fm/adchoices

With so many layoffs - it's easy to think the "sky is falling" but that's why we bring on experts in the hospitality industry to share what's actually happening when it comes to these conversations! Welcome, Steve Trover, the founder of Better Talent to the show to cover all things Talent & Employment!Industry News: (older news to be tied into the episode) Vacasa slashes 17% of staff (link) (Phocuswire Link) Sojo raises $6.2M Series A (Link) Show Notes:  HFM Merch Store!  10% off for GMH listeners that use this link TravelNet joins GMH as an official sponsor! Click this link to check out their special offer for our listeners! Learn more about your ad choices. Visit megaphone.fm/adchoices

Travel Fees are becoming too much and making hotels, vacation rentals, and airlines 2x more expensive than ever before. So, in this episode, we had a little bit of a venting session to get out all of our thoughts and feelings in regards to travel fees!Industry News: 81,000+ layoffs in the USA (link) Over 500K jobs added in the US economy overall  Show Notes:  HFM Merch Store!  10% off for GMH listeners that use this link TravelNet joins GMH as our official sponsor! Use this link to claim a special offer for all of our GMH listeners! —Good Morning Hospitality is part of the Hospitality.FM podcast network and a Hospitality.FM production.This show is structured to cover industry news within all of travel/hospitality and is recorded live every Monday morning 7am PST/10am EST so make sure you tune in during our live show on our social media or YouTube and join the conversation!Thank you to all of the Hospitality.FM Partners that help make this show possible and if you have any press you want covered during the show, fill out this form! Learn more about your ad choices. Visit megaphone.fm/adchoices

We're joined again with Jamie Lane, VP of AirDNA, to cover the end of 2022's data and how 2023 is pacing for vacation rentals!Here are some quick numbers for you!2022 - Year-end figures  - $62 Billion in U.S. short-term rental revenue ($315 ADR * 197 M nights sold) compared to U.S. hotels ($148.83 ADR  * 1.272 B rooms sold) = 189 B in Revenue for hotels according to STR. Global Short-term rental revenue at $142 BIndustry News: Vacasa slashes 17% of staff (link) (Phocuswire Link) Worries of AI taking/replacing jobs in Travel (Link)  Inspirato lays off 12% (link) Onefinestay launches monthly rentals in NYC - currently 16 homes available (link) Show Notes:  HFM Merch Store!  10% off for GMH listeners that use this link TravelNet joins GMH as our official sponsor, starting Feb 6th! —Good Morning Hospitality is part of the Hospitality.FM podcast network and a Hospitality.FM production.This show is structured to cover industry news within all of travel/hospitality and is recorded live every Monday morning 7am PST/10am EST so make sure you tune in during our live show on our social media or YouTube and join the conversation!Thank you to all of the Hospitality.FM Partners that help make this show possible and if you have any press you want covered during the show, fill out this form! Learn more about your ad choices. Visit megaphone.fm/adchoices

Hospitality.FM Presents its first Influencer Round Table where every quarter, we will select a handful of different podcasters and influencers from our network and gather them together for a themed discussion. For our first one, it clearly made sense to go into our predictions for this coming year!Podcasters on the panel:Good Morning HospitalityBoostly PodcastNo Vacancy with NatalieSTR SecretsSTR SisterhoodHospitality Mentor—Good Morning Hospitality is part of the Hospitality.FM podcast network and a Hospitality.FM production.This show is structured to cover industry news within all of travel/hospitality and is recorded live every Monday morning 7am PST/10am EST so make sure you tune in during our live show on our social media or YouTube and join the conversation!Thank you to all of the Hospitality.FM Partners that help make this show possible and if you have any press you want covered during the show, fill out this form! Learn more about your ad choices. Visit megaphone.fm/adchoices