Craig Westaway took over the management of a luxury short-term rental property on July 1, 2020. And in one month, he made more than the previous operator did in all of 2019.
So, what did Craig’s team do differently than the traditional manager? How did he optimize the guest experience and maximize profits in such a short amount of time?
Craig is the Cofounder and CEO of Bnbbooking, a high-end STR management company out of Gold Coast, Australia.
On this episode of Get Paid for Your Pad, Craig joins me to explain what he and his wife Holly do differently from ‘old school’ STR managers, describing how they create a high-end experience for guests across their portfolio of luxury accommodations.
Craig offers advice on how to find luxury property owners and sell them on your short-term rental management services.
Listen in for insight on meeting the high expectations of high-end guests and learn how Craig consistently TRIPLES the revenue of luxury Airbnb units by improving and personalizing the guest experience.
How Craig and Holly got started hosting on Airbnb
- Falling out with manager of own holiday home
- Wife took over management, tripled profits
How Craig 5Xed the profits on a recent acquisition
- Invest $20K in styling and rephotograph
- Increase price from $1K to $3K/night
Craig’s insight on creating a high-end STR experience
- Beautiful styling, make sure everything works
- Take steps to accommodate right # of guests
What guests expect in a luxury STR booking
- Meet guests personally for walk through
- Gifts (e.g.: champagne, beer and chocolates)
- Midterm cleans and inspect prior to check-in
How Craig gets 5-star reviews despite high expectations
- Get to know guests and personalize experience
- Offer late checkout when possible
How Craig finds high-end property owners
- Referrals and word-of-mouth marketing
- SEO on website = best sales tool
How to sell your services to a high-end property owner
- Listen to and align with their goals for listing
- Make them feel comfortable with you
What Craig did to navigate the pandemic
- 80% drop in bookings during snap lockdowns
- Offer travel credits to guests forced to cancel
Craig’s advice around accommodating weddings
- Create separate listing
- Increase price point for wedding parties
What Craig got out of our Legends X STR accelerator
- Playbook to document systems
- Build team of VAs, tech guy to run business
Connect with Craig
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