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Everything Instant - Lodging Newsletter September 30, 2024

By Wm. May
Published: 09/30/24 Topics: Education, Investment, Lodging Management, Profit, Selling, Vacation Rental Management, Yield Management Comments: 0

Instant Always

Long ago with some partners, we made an offer to purchase (of all things) a radio station.  
 
The partners had experience at managing radio stations, but no experience at the process of actually closing a business purchase that included a Federal Communications Commission (FCC) license application, tangible and intangible assets sale, engineering evaluation, and how to write all the necessary contracts.
 
The attorney engaged to facilitate the closing, had dozens of questions, when one partner innocently said, "Well, how long will it take for you to prepare the documents so we can close the deal?"
 
He informed us that he could have the first-draft of the closing documents in about week, then it would take the FCC about a month to review our application.
 
The partners were crestfallen. What could possibly take up to a week to type up some papers? The attorney was cordial in saying that this time is shared among numerous clients and, more importantly, the work must be done carefully and it must be done completely.
 
Overtime, with the advent of overnight document delivery services, then email, then mobile phones, and now texting, consumers and even business people have come to believe that everything little thing can be done immediately. But smart businesses still benefit from knowing when and when not to make things instantaneous.
 
We like to quote John Wooden, the head basket ball coach at UCLA from 1947 to 1975, won the NCAA national championship 10 times (7 consecutively). No other coach has come close. Many experts consider him to have been the best sports coach (in any sport) of all time, famous for admonishing his players to perform:
 
"Be quick. Never hurry."
 
That is especially helpful guidance in today’s era when more communications methods have caused everyone to want everything instantaneously. 
 
Later in life, Coach’s players admitted they not only fully understood the wisdom at the time. It helped them navigate life ever since.


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In the vacation rental and lodging management business, the list of duties, tasks, and obligations is long and varied. Of course, it is necessary to maintain and clean the physical properties, to assist guests in every way they may need, and to communicate with the property owners.
 
Over decades, the list of obligations continues to increase. Create and maintain websites. Continually invest in technology to synchronize rates, dates, and information with "Online Travel Agency" (OTA’s) websites (such as VRBO, AirBnB, Expedia). Produce web-optimized still photos, drone aerial photography, 3D Tours, and even floor plans. Utilize devices to monitor guest behavior, while also being available 24-7-365. And help with government permits. 
 
Along the way, an unexpected burden has been imposed.
 
Communicating in new ways is a good thing. Years ago bookings came in by phone, with confirmations sent by mail, or even fax (remember faxes??). The arrival of email was helpful. Online bookings facilitate bookings. Mobile phone ordering convinced guests to book on the go, and also helps coordinate housekeeping. Texting allows guest and manager to reach out and touch at any time.
 
But is that all good?
 
More communication methods have actually decreased personal communications. OTA’s interfere between guests and managers. SMS texting makes for overly short words, requiring much back and forth. Guests  demand to text at 3AM with non-essential questions. Owners install security cameras to surveil guests (who just hate that).
 
So to provide top service to everyone we embrace that John Wooden quote, "Be quick. Never hurry".
 
No one method takes preference. Bookings, phone calls, emails, texts, online chats, are parsed to determine priority. Quick - guest onsite property services. Quick - weather and utility interruptions. Quick - housekeeping and maintenance scheduling and tracking. New bookings ae processed quickly, depending on arrival date.
 
All the other hundreds of duties, questions, and requests come after those. Accounting is scheduled. Advertising is planned far in advance. Owner reports are periodic, but not daily. For owner questions about projections, accounting, or other inquiries, time is taken to ensure that responses are accurate and complete.
 
Coach Wooden also advised, "It’s the little details that are vital."
 
So by following prioritized communications, we can achieve the best outcome for owners, guests, and staff alike. 

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Author: Wm. May – Administrator, Vortex VIP
Blog #: 1000 – 09/30/24

Sponsor: Vortex VIP – – VortexVIP.com

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