How to Download The Definitive Study of Vacation Rentals: Leaves no stone unturned... PDF
I’ve spent the better part of the last 2 ½ years completing “The Definitive Study of Vacation Rentals”; written after 30 years of serving guests. It’s a book filled with essential contract language, checklists, real metric studies, vacation rental financial statements, labor tips and real life consequences that can trip up otherwise successful vacation rental operations. It’s a book I wish I had, way back when.As an expert witness in the landmark case (Unit Owners vs. Hardrock Condo Hotel, San Diego) I was hired by Hardrock to testify about what would be considered a fair distribution to unit owners. The Hard Rock prevailed. I presenting typical financial statements that allow condo-hotels to earn a fair profit and while paying distributions of 44%-45% to “homeowners”. As is known, without having to purchase condo-hotel “space” vacation rental company owners can distribute 65%-75%. The vacation rental and condo-hotel business models are virtually the same.The book provides excel worksheets that allow vacation rental companies to determine profitability before they commit to bringing new “homes” into their programs. I also provide an analysis on tools available that can help you streamline your operations.Finally, revenue management is a key ingredient in achieving success. Driving revenue through channels that each have a different cost allows you to optimize your profitability. Your channel mix makes you more profitable. I provide a comprehensive review of how to achieve success in managing revenues.I’ve written articles over the last 8 years that have been published globally on revenue management with tens of thousands of views. Key Performance Indicator driven tracking is key to success. You can see many of these articles on hospitalitynet.org by entering my name in the search prompt “Richard B Evans”.More importantly, I’ve been part of many successful endeavors that produced real results by following these rules, learned over decades.I dare humbly say that this is “the Definitive Study of Vacation Rentals” and leaves no stone unturned. We all know that our businesses should have an Employee Manual but time constraints and money have many push this off. I provide a document that all vacation rental companies can use to create this important contract between you and your staff.From essential Rental Management Agreement and Rental Agreement clauses to the step by step analysis provided toward profitability, it’s all under one cover.
