Newman Hospitality

I have been asking some of the top leaders in the short-term vacation rental industry to reflect on their Top 10 Mistakes. Why? Because I feel this is really where you start to get some real learnings. Here’s Andy Newman with Newman Hospitality's Top 10 Mistakes. Enjoy! 1???Invest in advertising right away and never stop invest in advertising 2?? Don’t take on owners that are poorly financed owners. Soon you will have an important repair that will create unnecessary crisis with the guest and the owner. 3???Don’t over-concentrate your inventory in one building or community; similarly don’t over-diversify. The former is risky and the ladder is inefficient and a sign of ignorance or insecurity. 4?? Hire offshore but hire quality people, even if you pay a premium vis-à-vis the market for offshore workers 5???Hire someone for sales from the start 6???Build impactful partnerships with realtors, decorators, and travel agents. 7???Understand and follow all OTA policies.?If you discovered a clever way to advertise on an OTA and have those bookings come direct, eventually you will get caught and shutdown.?OTAs give you a powerful stage to showcase your properties, secure constant bookings, and grow your inventory.?Why mess with this??Play by the rules. 8???Start a direct booking culture from day 1 and every member of your team will understand the importance of direct bookings. 9-10 in Comments. ??Did you find these insights valuable? If you’d like to uncover even more lessons from the top leaders in the short-term vacation rental industry, I’ve written a book compiling mistakes from 52 of the most successful leaders. I’d love to send you a copy—for free, no strings attached. Simply visit www.Vintory.com/Mistakes, and I’ll mail one right to you! I hope it’s helpful for you. ?? Want to be featured in my next book? I’m looking for vacation rental managers to share the mistakes they’ve made while building their businesses. Your story could be included in the updated edition of Vacation Rental Secrets: The Short-Term Rental Industry’s Top Experts Disclose Their Biggest Mistakes and Share Their Hard-Earned Wisdom. Email me at [email protected] or DM me your Top 10 Mistakes—I’d love to hear from you! ________________________ ?? I’m Brooke Pfautz. 4x startup founder.? ?? Passionate about the short-term vacation rental industry.? ?? Grew a vacation rental company from 0 to 500 Properties in 5 Years.? ?? Helped over 850 companies grow their rental inventory.? ?? Authored 3 books for the short-term vacation rental industry. ? ?? Founder | CEO of Vintory and Comparent ?? Follow me for stories from my journey

?? Introducing Our New Keys Casa: A Luxurious Long-Term Retreat in Key Largo. ?? We are pleased to present Keys Casa, an exceptional private residence in Key Largo designed for those seeking an extended stay in the Florida Keys. With a minimum rental period of 30 days, this property offers the perfect blend of modern comfort and island living. ?? Property Highlights: Private Boat Dock – Ideal for boating enthusiasts Rooftop Access – Enjoy stunning sunset views Heated Pool & Hot Tub – A private outdoor oasis Elevator – Providing easy access to every level Dog Friendly – Welcoming your four-legged family members 24/7 Guest Support – Ensuring a seamless experience Located in the heart of Key Largo, Keys Casa is surrounded by pristine waters, renowned dining, and unique local attractions. Whether you’re working remotely or seeking an extended escape, this home offers an unparalleled opportunity to experience the Florida Keys in comfort and style. Explore more about this exclusive property and secure your stay: ?? https://lnkd.in/eqjH2C2m #KeyLargo #ExecutiveRental #LuxuryLiving #LongTermStay #WaterfrontHome #NewmanHospitality

?? Super Bowl Buzz: A Game-Changer for Short-Term Rentals! The Super Bowl is more than just a game—it's a huge win for short-term rental hosts in event-driven markets. Did you know hosts in New Orleans are earning an average of $1,450 per night, more than 8x their usual rate? ??This is a great reminder of the power of event-based pricing strategies. Whether it’s spring break, fishing tournaments, or seasonal festivals, leveraging tools like dynamic pricing can help maximize your property’s revenue during peak demand. At Newman Hospitality, we’re experts in optimizing short-term rentals to perform their best during key travel seasons. ???? Whether your property is waterfront in the Florida Keys or nestled in another prime location, there’s always an opportunity to stay ahead of demand and boost your bottom line. Let us help you make every season your best yet. #ShortTermRentals #VacationRentalManagement #MaximizeRevenue #EventDrivenDemand https://lnkd.in/edKqvXA7

What an incredible experience attending the Information Management Network (IMN) Short-Term Rental Forum in Aventura! I had the privilege of moderating a dynamic panel on “The Common Denominators of Top-Performing Properties,” and the insights shared were game-changing for our industry. Key Conference Takeaways: 1. Amenities Matter ? We learned how small enhancements can lead to significant gains. For example, adding EV chargers to your properties can boost revenues by an impressive 17%. It’s clear that catering to guest needs creates a tangible return on investment. 2. Institutional vs. Mom-and-Pop Performance Gap ? The performance disparity is growing, emphasizing the need for smaller operators to level up their operations. Adopting professional tools and practices can help bridge this gap. 3. 2024: The Post-COVID Reset ? Travelers will demand more experiential stays, pushing us to think beyond basic accommodations. ? Capital accessibility and growing professionalization in the industry will make short-term rentals more approachable for both investors and guests. ? Regulation, while often seen as a hurdle, can reduce supply and increase property values, making investments more predictable. 4. Emerging Trends ? Expect higher highs and lower lows in market fluctuations. ? Social media is evolving into the next OTA: Travelers are booking stays they discover in their feeds, bypassing traditional search methods. ? Mergers and acquisitions are heating up, signaling the maturing of the industry. 5. Direct Bookings & Marketing Strategies ? Building a strong brand is non-negotiable. Direct bookings rely on trust and loyalty. ? Leverage AI-powered websites to understand guest behavior and create personalized experiences. ? Social media builds trust and legitimacy, while short-form videos grab attention. However, it’s not always about ROI—it’s about creating a consistent presence. 6. Challenges Ahead ? The biggest hurdle for many remains startup costs, but overcoming this with the right strategy ensures long-term success. 7. Listing Optimization Is Key ? With new companies emerging to help fine-tune listings, this is an area no operator can afford to ignore. Thank you to Information Management Network (IMN) for hosting another outstanding event and to everyone who attended and contributed to such meaningful conversations. Already looking forward to the next one! #imn #panelduscussion #networking #shorttermrentals

?? Exciting News- I will be moderating a panel at the upcoming Information Management Network (IMN) Conference on?"Common Denominators of Top-Performing Properties." We’ll dive into what makes top-performing companies stand out in today’s competitive landscape. From exploring the “secret sauce” to unpacking specific strategies, this discussion will be packed with actionable takeaways for success. Looking forward to exchanging ideas and uncovering insights that can elevate us all. ?? Will you be attending? Let’s connect! #IMNConference #ShortTermRentals #VacationRentals #Hospitality #Leadership #IMNSTR #IMNEvents

Looking back on 2024, I am incredibly proud that 100% of our team who started the year is still with us. Considering the high turnover in hospitality, this is a remarkable achievement and a testament to the fact that we are achieving our goal of being one of the greatest small family-owned companies to work for. While corporate America forgets the flexibility lessons of COVID and enforces control-thirsty "back-to-the-office" policies, at Newman Hospitality, we empower, understand, and provide flexibility for our team members. We are proud to have grown during a very challenging year for our industry, and we are optimistic about 2025 as we embark on new opportunities in emerging markets. ? Wishing everyone a healthy, happy, and successful year. #goals #growth #success #health #partnerships

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Think Self-Managing Your Vacation Rental Saves Money? Think Again. ?? Our latest blog breaks down the true cost of self-management vs. hiring a pro—and the results might surprise you! ?? Here’s a sneak peek: ? Professional managers use multiple platforms (not just Airbnb), boosting visibility and bookings. ?? Dynamic pricing strategies maximize earnings year-round. ??? Efficient maintenance & operations keep your property in top shape (and guests happy). ?? Expert marketing = better reviews, higher revenue, and repeat bookings. When it comes to managing vacation rentals, “saving” on management fees could be costing you more in the long run. Let’s talk ROI. ?? Read the full post here:?https://lnkd.in/g3t6JQfT #VacationRentals #PropertyManagement #ShortTermRentals #RealEstateInvesting #RevenueBoost #blogpost

?? South Florida’s Short-Term Rental Landscape: Challenges and Opportunities. The vibrant short-term rental market in South Florida is at the center of some hot debates this season. ?? On one hand, new regulations are aiming to streamline licensing and ensure compliance with tax and safety requirements. These changes could boost accountability and professionalism in the industry. On the other hand, studies suggest that the growth of short-term rentals might be affecting housing affordability, as more units transition from long-term housing to vacation rentals ??. As property managers, we see both sides: ? Benefits: Short-term rentals provide essential options for tourists and traveling professionals, supporting the local economy. ?? Concerns: Balancing community needs and housing availability is critical to maintaining South Florida’s unique charm and livability. Let’s discuss: How do we find the sweet spot where the industry thrives while keeping neighborhoods vibrant and affordable? #ShortTermRentals #VacationRentals #SouthFlorida #RealEstate

?Looking to unlock the full potential of your vacation rental? Selecting the right property manager is a crucial step for long-term success. In our latest blog post, we share expert insights on finding a manager who excels in property upkeep, enhances guest satisfaction, and drives revenue growth. From spotting red flags to essential interview questions, this guide covers it all. ?? Read on to ensure your investment is in the best hands.??? https://lnkd.in/eE8p2UTE #VacationRentals #PropertyManagement #SmartInvesting #blogpost