Crossover Episode: Tangy Talks - Summer Strategies, Revenue Tips, and the Rise of Midterm Rentals

The Hospitality Mentor

Today we're doing a crossover episode and sharing my other podcast. I do with my co-host Victor Feria called Tangy Talks. I hope you enjoy it.

Welcome to Episode 16 of Tangy Talks! In this episode, Steve Turk and Victor Feria share their summer strategies and insights into managing the hospitality business during South Florida's slower season. They discuss team appreciation, the rise of midterm rentals, revenue management tips, and industry challenges. Plus, exciting news about sponsoring a local fighter and the upcoming Hospitality Mentor networking event. Don't miss out!

Chapters:

• [00:00] Introduction
• Steve and Victor kick off the episode with a light-hearted chat about their journey to becoming a top podcast and their plans for a team outing at Top Golf.
• [01:00] Team Appreciation and Leadership
• Discussion on the importance of showing appreciation to the team, especially after a busy first half of the year. Strategies for team engagement and celebrating hard work.
• [02:00] Navigating Slow Season in South Florida
• Insights into managing the slower summer season in South Florida, including the impact of current events, politics, and inflation on travel and hospitality.
• [04:00] Revenue Management Tips
• Victor shares revenue management strategies, emphasizing the importance of early planning and adjusting amenities to maintain profitability during slower periods.
• [06:00] Industry News: Vacasa Layoffs
• Analysis of Vacasa's recent layoffs and what it means for the vacation rental industry. Lessons learned and advice for property owners and managers.
• [09:00] Long-Term vs. Short-Term Rentals
• Discussion on the rising trend of long-term rentals and the flexibility of the hybrid model to adapt to market changes. Pros and cons of different rental strategies.
• [11:00] Owner Relations and Communication
• The importance of maintaining good relationships with property owners and ensuring transparency and communication. How Tangy Management prioritizes owner experience.
• [13:00] Midterm Rentals: The New Trend
• Exploration of the growing demand for midterm rentals, especially in light of upcoming events like the FIFA World Cup. Benefits of offering flexible rental options.
• [15:00] Personal Experiences with Midterm Rentals
• Steve and Victor discuss their personal thoughts on living in different locations for extended periods and the logistical considerations for midterm stays.
• [18:00] Tangy Management's Approach to Slow Season
• Strategies Tangy Management employs to navigate the slow season, including competitive pricing, team planning, and maintaining core team members.
• [21:00] Market Analysis and Competitor Insights
• How Tangy Management analyzes market trends and competitor pricing to stay competitive during the slower months.
• [23:00] Preparing Owners for Slow Season
• Advice for property owners on preparing for the slow season, including setting realistic expectations and being flexible with rental rates.
• [26:00] Creative Revenue Solutions
• Exploring additional revenue streams for vacation rentals, such as offering extra services and events to guests.
• [28:00] Upcoming Events and Sponsorships
• Announcement of the July 10th Hospitality Mentor networking event and the sponsorship of local fighter Christian Esquilin.
• [30:00] Wrap-Up and Sign-Off
• Steve and Victor close the episode with a reminder about the upcoming event and a friendly challenge for their Top Golf outing.