Don't just recover, plan growth
Use 2020 to plan how your short term accommodation business will come out of COVID19 stronger and ready for challenges of 2021.
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Merilee Karr of the Short Term Accommodation Association (STAA) joined us to discuss how property managers can use 2020 to plan growth and grow stronger.
Don’t just recover, plan growth! Strategies to complete in 2020
With Merilee Karr of the Short Term Accommodation Association (STAA)
Merilee wears several hats, from the STAA and also as CEO of agency for luxury apartments and vacation rentals, Under The Doormat, and Hospiria.
Topics covered in the webinar
We discussed how it's important to take advantage of this time in 2020 to plan and prepare for growth in 2021.
We don't know what the future holds, but we do know that preparation is important. Here's what we discussed.
- The booking window has dropped, and this should affect at what point you choose, if at all, to reduce prices.
- Consumer behaviors has changed, perhaps because consumers don't want to commit until the last possible moment.
- Agencies should review their contracts with owners, and look for more flexible, lower-risk strategies can be evaluated.
- Work with third-party accreditation companies such as Quality in Tourism, I-PRAC, VisitBritain.
- Consider flexible booking terms to attract more bookings, and build the reputation of your company.
- Evaluate how you can make your business leaner, including fixed employees, office space, bringing tasks in-house or outsourcing.
- Review the business finances regularly to evaluate how long they can survive if a further dry period occurs.
- Consider evaluating the existing finances, but not including future commission as part of their finances, should the worst happen and monies need to be refunded back to guests.
- Cleaning webinar with ASSC and Cleaning Certification
- Links to cleaning checklists in ASSC and STAA
- Links to BookingPal webinar
Got a question for Merilee or Kelly?
Send your questions to email@example.com or contact Merilee on Linkedin.
What is the Short Term Accommodation Association (STAA)?
The Short Term Accommodation Association (STAA) was established in March 2017, with a goal "ensuring greater cooperation to tackle common industry challenges and seizing shared opportunities in this growing sector".
For more information on the STAA and how you can benefit from working with the Short Term Accommodation Association, visit their website.
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Vacation rental and self-catering webinars
We host events each month, supporting our clients and property managers across the globe to grow, build their property management company. Join us or click on each link to watch the replay.
August Meet-up: Cleaning COVID19 guidelines explained by the ASSC and Cleaning Certification
June Meet-up: Robin from Bookster, Using Bookster to restart your holiday rental business
April Meet-up: Martin Sach from Holiday Home Association.
We'll be hosting more vacation rental events during 2020.
Sign up for future events and find out more about what's happening in the self-catering industry, and stay connected with other property managers.