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Business PlansKeeping Up with Guest Expectations: The Future of Property Management with Jeremy Gall
In this episode, Jamie Lane welcomes Jeremy Gall, the Founder and CEO of Breezeway, to discuss the evolving landscape of property management. Jeremy first made waves in 2006 by launching FlipKey, a pioneering house-swapping and vacation rental listing platform. At that time, the idea of using credit cards over checks for vacation home bookings was still under debate.
Recognizing a shift toward more service-oriented property management, Jeremy then founded Breezeway to ease the burden on property managers by offering a comprehensive solution for coordinating staff, cleaners, and maintenance across all properties. Breezeway serves as a centralized hub for property care and operations, helping managers navigate the complexities of handling multiple properties across various markets.
Jeremy also highlights key performance indicators that property managers should be tracking, such as guest satisfaction and team utilization. He discusses the importance of keeping tabs on metrics like the number of tasks and time spent per property.
Finally, the duo breaks down where they see the industry headed over the next few years. They point out that Airbnb is shedding about 40,000 listings monthly but gaining around 60,000, maintaining a net positive trend. They also suggest that this growth could see a shift if property managers fail to uphold a certain standard of professionalism, given the changing expectations of guests.
Don't miss this episode for an in-depth look at the future of property management!
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Check out Breezeway:
www.breezeway.io
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Connect with Jamie on LinkedIn and Twitter:
LinkedIn: https://www.linkedin.com/in/jamiehlane/
Twitter: https://twitter.com/Jamie_Lane
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Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram:
LinkedIn: https://www.linkedin.com/company/airdna/
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TikTok: https://www.tiktok.com/@airdna.co
Instagram: https://instagram.com/airdna.co
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Find AirDNA at these upcoming events!
Up Next:
Inside the Traveler's Mind: The STR vs. Hotel Experience with Madeline List
Join Jamie Lane as he sits down with Madeline List, Senior Research Analyst at Phocuswright, for a deep dive into the varied preferences and behaviors of guests at short-term rentals versus hotels. Leveraging Phocuswright's extensive market intelligence in the travel and tourism sector, Madeline offers a detailed comparison of these divergent guest experiences.
The conversation unveils that STR guests often don't commit to a single accommodation category, showing a marked difference from the typical hotel guest profile. STR guests tend to be younger and have a higher median income, usually between $75-99k, which contrasts with the $50-74k median income of hotel guests. They also travel more, averaging nearly four leisure trips annually, compared to three for hotel guests, and they are more likely to combine work with leisure, taking advantage of the ability to work remotely while on longer stays.
A notable point of the episode is the discussion of the challenges that STRs face in delivering consistent standards. While hotels are expected to provide a certain level of quality and reliability, STRs operate without the extensive checks and balances that enforce this consistency.
The importance of reviews in the STR selection process is also explored. Madeline and Jamie discuss how these reviews have become a crucial tool for guests seeking assurance about their stay—something that's less of an issue with the established reputation of hotel brands.
Looking towards the future, Madeline shares her insights on the potential impact of economic challenges on the industry, specifically how a recession might alter travel patterns and affect guest loyalty.
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Check out Phocuswright:
https://www.phocuswright.com/
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Signup for AirDNA for FREE👇
~~~~
Connect with Jamie on LinkedIn and Twitter:
LinkedIn: https://www.linkedin.com/in/jamiehlane/
Twitter: https://twitter.com/Jamie_Lane
~~~~
Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram:
LinkedIn: https://www.linkedin.com/company/airdna/
Twitter: https://twitter.com/airdna
TikTok: https://www.tiktok.com/@airdna.co
Instagram: https://instagram.com/airdna.co
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Find AirDNA at these upcoming events!