In this episode of the No BS podcast, we welcome back Marcus from Hostaway to catch up on the exciting developments since his last appearance in December 2022. We dive into Hostaway's impressive feats, such as raising a massive $175 million in Series A funding, followed by an even more staggering $365 million Series B funding round. Marcus gives us an inside look at the intricacies of running a top-tier business, emphasizing the paramount importance of stellar customer support and innovative technology. We also explore the future plans for Hostaway, the evolving landscape of the short-term rental industry, regulatory challenges, and what it takes to achieve market leadership. Don't miss this insightful conversation packed with industry knowledge and future trends.

Link to Hostaway: https://www.hostaway.com/

Episode Highlights:

00:00 Introduction to the No BS Podcast

00:57 Welcoming Marcus from Host Away

02:26 The Simple Truths of Business and Life

04:56 Host Away's Major Funding Announcements

06:20 The Three Pillars of Running a Business

12:31 The Importance of Customer and Investor Relationships

20:45 The Future of Vacation Rentals and Direct Bookings

23:16 Investing in Technology and Customer Success

24:08 Acquisitions and Market Competition

25:55 Challenges of Following Playbooks

30:30 Valuations and Market Opportunities

35:20 Impact of Regulation on Real Estate

40:04 Company Culture and Employee Compensation

45:58 Conclusion and Future Outlook

In this episode, we journey from the days of Big Printing, brush elbows with some very established brands, and take the learnings to Vacation Rental Operations with Brian Butler

The conversation covers the evolution and impact of technology in vacation rentals, the integration of AI and machine learning, and the balancing act of scaling while maintaining company culture. Brian also introduces his current project, EZcare, detailing how it revolutionizes property care and operations through innovative inventory management and scheduling solutions. The discussion is candid, insightful, and filled with valuable industry perspectives and future tech trends.

We LOVE this conversation and know you will too!

EZcare website: https://www.ezcare.io/

Contact Brian Butler: brian@ezcare.io

Episode Highlights:

00:00 Introduction to the No BS Podcast

00:57 Hosts' Personal Updates and Banter

02:04 Introducing Guest Brian Butler

03:01 Brian Butler's Career Journey

06:09 Transition to the Hospitality Industry

07:42 Experiences at Navis and Vacasa

16:50 Challenges and Innovations in the Industry

22:12 The Rush to Grow: Is It Worth It?

23:16 The Impact of Rapid Scaling on Company Culture

24:34 The Rise of the Hobbyist in the Vacation Rental Market

25:42 Introducing EZcare: A New Approach to Business

26:16 Building Tools for the Vacation Rental Industry

32:24 The Importance of Inventory Management

39:54 The Future of Property Care with AI

42:30 Conclusion and Final Thoughts

In this episode of the no BS podcast, we dive deep into the world of short-term rental upgrades with Mark Lumpkin of STR Cribs. The discussion covers everything from the origin of STR Cribs, which provides comprehensive renovation and setup services for short-term rentals, to their unique approach to transforming dated properties into high-revenue vacation spots.

Mark explains how STR Cribs not only handles design and construction but also advises on maximizing revenue through strategic amenities and safety considerations. The episode also touches upon Mark's journey into the industry, the importance of differentiating rental properties, the company's financing opportunities, and potential future expansions and plans for the company

Notably, the conversation explores the broader trends in the STR industry and the growing need for unique, experience-driven rental properties to stand out in saturated markets.

STR Cribs website - https://strcribs.com/

Mark's LinkedIn - https://www.linkedin.com/in/mark-lumpkin-84b173142/

Mark's email - mlumpkin@strcribs.com

00:00 Welcome to the No BS Podcast

00:57 Meet the Hosts: Mateo and John

01:08 Home Renovation Stories

01:29 Introducing Our Guest: Mark Lumpkin

03:09 Mark's Journey into the STR Industry

05:15 Travel Adventures and STR Insights

09:15 The Birth of STR Cribs

10:50 Consulting and Revenue Management

14:40 Expanding STR Cribs' Reach

19:40 Future Projects and Innovations

21:25 The Airbnb Clone Epidemic

22:42 Standing Out with Bold Design Choices

23:24 Exploring Partnerships and Collaborations

24:14 Maximizing Property Revenue with Small Changes

24:51 Media and Marketing Strategies

25:46 The Power of Social Media

26:19 Upcoming TV Show and Content Plans

26:43 The Value of Sharing Knowledge

29:29 Networking and Industry Events

32:51 Innovative Financing Opportunities

35:52 Future Trends in the STR Market

39:16 Concluding Thoughts and Farewell