EP08: The Limited Edition Episode
The vacation rental industry has exploded in the last few years with big players. Big players like AirBnB, HomeAway & Booking.com have been rapidly consolidating the industry, creating an industry with more familiarity that\u2019s palatable to the average consumer. But what does this mean for the \u201cmom-and-pop\u201d style businesses who don\u2019t want to grow? Those who would rather create a small limited edition business infused with personality. In this round-table episode, we discuss the big picture history of the hospitality industry Andrew McConnell. We\u2019ll learn how Kristie Wolfe creates and operates a boutique tiny home vacation rental business, and how Tara & Josh Conger walk the fine line of creating a scalable business while preserving their unique experiences.
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Show Notes
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Andrew McConnell
- Understanding the differences between commodity and limited edition vacation rentals
- How fragmented the vacation rental industry is
- Andrew McConnell discusses the history of the \u201ccottage industry\u201d
- How fragmented industries tend to consolidate
- What the \u201cbig players\u201d in the hospitality industry did that the \u201csmall players\u201d didn\u2019t
- Building a lifestyle business versus a major venture backed business
- How the nature of vacation rentals is designed not to scale
- The hazards of being \u201cstuck-in-the-middle\u201d of a boutique personality based business versus a growing commodity business
- Discussing the potential winners and losers in the future of the industry
- Being unique versus pretending to be unique
- Being something to everyone, versus being everything to someone
Kristie Wolfe
- On building and designing tiny-home vacation rentals
- Why Kristie prefers to not meet guests at her unique homes
- How Kristie designs unique experiences for her guests (that sometimes involve trespassing)
- Kristie\u2019s unique advantage when building tiny homes
- Kristie\u2019s advice on doing vacation rental projects that get you excited
Tara & Josh Conger
- Creating a limited edition vacation rental company that can scale
- Having a private island as a vacation rental
- Building custom homes to be vacation rentals
- How Tara & Josh leverage concierge services
- Building a new website for the business
- Balancing the scaling of a business while maintaining a boutique personal touch
- Using CRM systems to improve guest experiences
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Resources
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- Rent Responsibly (Sponsor)
- Andrew McConnell With Rented.com
- Steve Milo, Vacasa, Turnkey
- Kristie Wolfe - Tiny House on the Prairie
- Kristie Wolfe\u2019s Hobbit Home
- Kristie Wolfe\u2019s Tree House
- Conger Collection & Conger Brokerage Services
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Lastly\u2026.
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Learn more about the host, visit https://mattlandau.com/
Get marketing strategies for vacation rentals, visit https://www.vrmb.com/
Collaborate with other professionals in https://community.vrmb.com/