Thursday, July 11, 2024
9AM - 1130AM PST
Zoom
Join us for an insightful virtual workshop on financial management for vacation rental managers, featuring industry leaders who will share their firsthand experiences and practical strategies for enhancing your core business capabilities. This workshop will cover critical topics such as financial products and services, operational efficiency, revenue management, and business valuation and exit strategies.
Topics
Evaluating Financial Products
Improving Operational Efficiency
Comparing Technology Vendors
Building Your Core Financial Team
Optimizing Pricing Strategy
Understanding Valuation
Assessing KPIs and Metrics
Exit Strategies
Agenda
Welcome and Introductions (10 mins), Host: Jonathan Sukhia
Session 1: Navigating VRM Financial Management (30 mins), Speaker: Jonathan Sukhia
Session 2: The Modern day STR Tech Stack (30 mins), Speaker: Cole Rubin
Break (15 mins)
Session 3: Accelerate Your Portfolio’s Revenue & Growth (30 mins), Speaker: Andrew Kitchell
Session 4: Begin with the End In Mind - Valuation, Benchmarking and Exit Strategies (30 mins), Speaker: Jacobie Olin
Q&A and Closing Remarks (15 mins), Host: Jonathan Sukhia
Speakers
Andrew Kitchell is CEO and Founder at , a revenue management platform that serves the leading professional operators in the short-term, vacation rental, corporate rental space & boutique hotel space. Andrew has 10 years of experience in the accommodations space, having build multiple technology & operating companies. Prior to Wheelhouse, Andrew was the founder & CEO at, the first data-driven pricing engine for the STR/VR space. Additionally, Andrew also founded , a network of tech-enabled rentals designed for the modern business traveller that developed properties in 14 US markets.
Building a valuable property management business or portfolio is all about scaling contracts for - or ownership of - valuable properties. Therefore, we'll explore how you can turn revenue management into your growth function. What does this look like? We'll illustrate how you can maximize (a) the # of doors you manage, (b) the quality of doors you manage, (c) your available nights for sale, (d) the value of the nights you sell.
Cole Rubin, the Co-Founder and CEO of HostAI, has a wealth of experience in the real estate sector. Prior to founding HostAI, he led an STR development and management company in Joshua Tree for four years. Cole's extensive expertise is highlighted by his involvement in originating $1 billion worth of bridge-debt, acquiring $250 million of value-add multifamily properties, and developing $19 million worth of STRs in Southern California.
In an industry flooded with "tools," identifying what's truly essential can be overwhelming. Cole simplifies the modern approach to optimizing your management business, ensuring scalable 5-star guest experiences with a cost-effective and lean tech stack. Finally, Cole will also detail how he uses AI to seamlessly integrates into the mix.
Jon Sukhia is the co-founder and CEO of Topkey. He was previously Head of Management Partnerships on the Hotels team at Airbnb and previously HotelTonight. Prior to that he was an Associate Director of M&A at Starwood Hotels, and led the sale of Starwood's timeshare vacation rental business to Interval Leisure. He started his career as an investment banker at Wells Fargo Securities. He holds a Master’s degree in Management from Duke's Fuqua School of Business and a Bachelor's in Science in Accounting and Finance from Florida State University. He lives in Nashville, TN with his wife Anna, and their dog, Waffles.
Managing finances in the vacation rental industry presents unique challenges. Balancing the needs of owners, staff, and vendors, while navigating multiple bank accounts, credit cards, and software platforms, can be overwhelming. As your business expands, these complexities multiply. Join us as we delve into the interconnected nature of your operations, technology, financial tools, and bookkeeping. Discover practical insights and actionable strategies to streamline your processes, ensuring seamless communication between your systems. This approach will help you save time, cut costs, and enhance profitability. Additionally, we'll provide a diagnostic checklist for post-session evaluation.
Jacobie Olin is the President of C2G Advisors, the leading advisory firm in the short-term vacation rental industry. Having completed 40+ deals for greater than $300M in the past 3 years, Jacobie is an expert in guiding sellers and buyers throughout the transaction process. Other services include KPI benchmarking, strategic consulting, and purpose-built assistance. He has been involved in short-term rentals, hospitality, and real estate for over a decade.
Join Jacobie for a deep-dive into the connection between market performance and benchmarking your company's valuation. We'll cover the dynamics of revenue and property growth, software adoption, and churn rates and walk you through a comprehensive 'scorecard' to evaluate and enhance your company's specific financial standing. Discover actionable strategies to leverage performance data for maximizing your company's valuation, ensuring you're not just keeping pace but setting the benchmark in this rapidly evolving market. Lastly, we'll leave you with best practices to implement and measure whether you want to sell or scale in the coming years.
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