In this episode of the podcast, VRMA Arrival editor Alexa Schlosser talks to Andy Newman, founder and CEO of Newman Hospitality. The discussion touched on the following topics:
- Andy's background: He transitioned from a career in banking and coaching to the short-term rental industry due to his passion for travel and cultural exchanges.
- The birth of Newman Hospitality: Andy became an early Airbnb operator and discovered the importance of the short-term rental industry. He attended VRMA conferences, leading to the establishment of Newman Hospitality, which prioritizes hospitality and focuses on employee well-being.
- Work-life balance: Andy emphasizes the significance of work-life balance and how it positively impacts employee productivity and retention. He shares his personal journey towards achieving a healthy work-life balance.
- Growth strategy: Newman Hospitality experienced triple-digit growth by focusing on diverse geographical locations, real estate partnerships, and long-term client growth.
- Advice for property managers: Andy suggests focusing on medium and long-term growth, "weeding the garden" by being selective with clients, and investing in the right people and technology.
- Trends in the industry: Andy believes the short-term rental industry is in its early growth stages, with opportunities for those who prioritize hospitality and professionalism. He sees a post-COVID normalization and longer reservations as trends in the market.
- Optimism for the industry: Andy expresses a positive outlook for the short-term rental industry, citing happy guests and continued growth opportunities as reasons for optimism.
