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In the third episode of Workflows and Espressos, Meaghan offers insights on financial management for vacation rentals, highlighting the importance of budgeting, employee-to-property ratio, and effective revenue management. Key takeaways include the necessity of creating a budget plan and having regular P&L reviews, understanding the point of profitability for each rental unit, leveraging technology for better revenue management, and communication with the team and owners on budget matters. Meaghan also gives tips on reducing unnecessary expenses for the year while keeping service levels high.
Connect with Meaghan!
This episode is brought to you by our sponsors at:
Breezeway- Workflows & Espressos listeners get $100 off when you sign up for Breezeway!
AirDNA- 1st Month Free for a Pro AirDNA Subscription. Use code WORKFLOWS at checkout for savings
Links:
Apple Podcasts - Link
Spotify - Link
Hospitality.FM - Link
—
Workflows & Espressos is part of the Hospitality.FM podcast network and a Hospitality.FM Original. If you like this podcast, then you'll also love our other podcasts directly on Hospitality.FM!
Thank you to all of the Hospitality.FM Partners that help make this show possible, and if you like this show, please leave us a review and share it on your network!
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In the third episode of Workflows and Espressos, Meaghan offers insights on financial management for vacation rentals, highlighting the importance of budgeting, employee-to-property ratio, and effective revenue management. Key takeaways include the necessity of creating a budget plan and having regular P&L reviews, understanding the point of profitability for each rental unit, leveraging technology for better revenue management, and communication with the team and owners on budget matters. Meaghan also gives tips on reducing unnecessary expenses for the year while keeping service levels high.
Connect with Meaghan!
This episode is brought to you by our sponsors at:
Breezeway- Workflows & Espressos listeners get $100 off when you sign up for Breezeway!
AirDNA- 1st Month Free for a Pro AirDNA Subscription. Use code WORKFLOWS at checkout for savings
Links:
Apple Podcasts - Link
Spotify - Link
Hospitality.FM - Link
—
Workflows & Espressos is part of the Hospitality.FM podcast network and a Hospitality.FM Original. If you like this podcast, then you'll also love our other podcasts directly on Hospitality.FM!
Thank you to all of the Hospitality.FM Partners that help make this show possible, and if you like this show, please leave us a review and share it on your network!
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