In this episode, Cody and Meagan dive deep into the crucial topic of financial management for hospitality businesses. They discuss how mastering your finances is key to transforming your business and ensuring long-term success. With over a decade of experience, the Vibrant team shares their best practices for smart budgeting and financial planning, providing actionable insights to help you stay on top of your business finances.

Cody walks listeners through his tried-and-true methods for setting up business banking, explaining how to create a financial system that works seamlessly. From establishing different accounts for expenses and savings to ensuring smooth cash flow, you'll learn how to organize your finances in a way that supports growth and stability. We also cover essential budgeting practices, such as setting up monthly expense tracking, projecting revenue accurately, and preparing for unexpected financial challenges.

Whether you're a seasoned business owner or just starting out in the hospitality industry, this episode offers practical tips on how to effectively manage your finances, from basic bookkeeping to long-term financial planning. Tune in to discover the strategies you need to elevate your financial game and make your business thrive.

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@thevibrantteam
@virtualgmpodcast

Checkout our website -
www.thevibrantteam.com

In this episode, we explore the importance of preparing your hospitality business for the upcoming 4th quarter, one of the busiest times of the year. Cody and Meagan dive into the essential steps for setting your promotions well in advance, including special pricing for key holidays such as Halloween, Thanksgiving, Christmas, and New Year's.

We discuss how to strategically plan your pricing for both the remainder of 2024 and into 2025, ensuring your property is ready to capture holiday travelers and long-term bookings. You’ll learn tips on how to optimize your website to drive conversions by implementing a compelling call to action that encourages guests to book as soon as they land on your page.

Whether you're managing an independent hotel, a boutique property, or an Airbnb, this episode provides insights on boosting revenue, creating urgency, and setting your property up for success as the year comes to a close. Tune in to make sure your business is ready for the holiday rush!

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@thevibrantteam
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www.thevibrantteam.com

In this episode, we dive into Cody’s most recent experience at the BITAC Independent event, held at the beautiful Ritz Carlton in Amelia Island, Florida. BITAC brings together top-level executives from independent properties across the country to discuss the future of hospitality. Cody shares key takeaways from the event, networking opportunities, and the innovative strategies being implemented by leaders in the independent hotel space. Don’t miss the insights from this incredible gathering of hospitality professionals!

Check out more about BITAC: BITAC Independent.

Follow us on Instagram -
@thevibrantteam
@virtualgmpodcast

Checkout our website -
www.thevibrantteam.com

Podcast Description: Season 2, Episode 16 of the Virtual GM Podcast

In this episode of the Virtual GM Podcast, Cody and Meagan Adent from Vibrant Management dive into the critical topic of financial management in the hospitality industry. They share Vibrant’s proven financial process, including the creation of detailed budget sheets for all companies, the use of QuickBooks Online, and the importance of having everything in place for financial planning and success.

The episode emphasizes the significance of timely financial reporting, ensuring end-of-month finances are completed by the 10th of every month. This includes a reconciled budget sheet, Profit & Loss (P&L) statement for the previous month, year-to-date P&L, and the most current balance sheet. Cody and Meagan also offer practical tips on managing cash flow effectively to keep your hospitality business thriving.

Whether you’re a hotel owner, property manager, or involved in any aspect of the hospitality industry, this episode provides essential insights to help you maintain financial stability and achieve long-term success.

Follow us on Instagram -
@thevibrantteam
@virtualgmpodcast

Checkout our website -
www.thevibrantteam.com

Podcast Description: Season 2, Episode 15 of the Virtual GM Podcast

In this episode of the Virtual GM Podcast, Meagan and Cody Adent from Vibrant Management highlight the must-attend hospitality events for 2024. With show season kicking off in September and October, these events are crucial for anyone looking to stay ahead in the industry.

We discuss the Independent Hotel Show, your local state tourism conference (like Utah's), the IL Congress, and The Hospitality Show. These gatherings offer incredible opportunities for networking, learning, and discovering the latest trends in the hospitality world.

Independent Hotel Show USA

Website: Independent Hotel Show USA
Description: The Independent Hotel Show USA is a premier event designed for luxury and boutique hoteliers. It provides a platform for industry professionals to connect, discover innovative products and services, and gain insights from expert-led sessions. The event is tailored to meet the unique needs of independent hoteliers, offering opportunities for networking and learning from industry leaders.

Utah Tourism Conference

Website: Utah Tourism Conference
Description: The Utah Tourism Conference is an annual event that brings together professionals from the tourism and hospitality industry within Utah. It focuses on promoting and enhancing tourism in the state through educational sessions, networking opportunities, and discussions on current trends and challenges. The conference is essential for those looking to stay informed about Utah’s tourism initiatives and connect with key players in the local industry.

IL Congress (International Luxury Hotel Association Conference)
Website: IL Congress
Description: The IL Congress, organized by the International Luxury Hotel Association, is a global event dedicated to the luxury hotel sector. It offers a platform for hoteliers, hospitality professionals, and suppliers to explore the latest trends, innovations, and best practices in luxury hospitality. The conference features keynote speakers, panel discussions, and networking opportunities, making it a must-attend event for those in the luxury hotel industry.

The Hospitality Show
Website: The Hospitality Show
Description: The Hospitality Show is a comprehensive event that caters to the broader hospitality industry, including hotels, restaurants, and travel services. It features a wide range of exhibitors, educational sessions, and networking opportunities aimed at helping hospitality professionals stay competitive and informed about the latest industry developments. The event attracts a diverse audience, from hotel owners and operators to marketing professionals and technology providers.

These events are excellent opportunities for professionals in the hospitality industry to network, learn, and stay up-to-date with the latest trends and innovations.

Whether you're a hotel owner, manager, or just passionate about the industry, tune in to get the scoop on these essential events. Produced and distributed by Vibrant Management, Virtual GM is your ultimate resource for all things hospitality. Don’t forget to visit our website for more resources and support.

Follow us on Instagram -
@thevibrantteam
@virtualgmpodcast

Checkout our website -
www.thevibrantteam.com

Podcast Description: Season 2, Episode 14 of the Virtual GM Podcast

In this exciting episode of the Virtual GM Podcast, we are joined by Jason Craparo, CEO & Founder of Hovr, the cutting-edge content delivery software that is revolutionizing the way marketers engage with their audience. Discover how Hovr's patented technology is transforming hospitality websites, driving engagement rates that soar 2000%-4000% above the industry average.

Episode Highlights:

• Hovr Overview: Learn how Hovr enables marketers to deliver the right content to the right person at the right time, creating "Moments that Matter" on your site. These interactions build engagement and seamlessly guide visitors into your booking flow, eager to book their next stay.
• Innovative Features: Explore Hovr’s intuitive, no-developer-needed tools that enhance your website by turning any text into an interaction, showcasing your property’s amenities in an immersive and engaging way.
• Enhanced Analytics: Keep track of your engagement with Hovr’s advanced tracking and analytics suite, helping you optimize content and stay ahead of industry trends.
• Pathways Feature: Discover how Hovr’s latest feature, Pathways, puts your guests and their content center stage in a mobile-prioritized experience that amplifies conversions.
• Exclusive Offer: Sign up before the end of August to access all of Hovr’s newest features at a special rate, and start transforming your website immediately.

Special Guest - Jason Craparo: Jason Craparo, the mastermind behind Hovr, shares his journey from becoming the youngest owner/operator for Sonic Drive-In at 21 to founding Hovr. With a BA in Business from the University of Arizona and an MBA from Babson College, Jason’s impressive resume includes numerous leadership awards, board memberships, and guest lectures at Villanova University. His passion for entrepreneurship and innovation shines through as he discusses how Hovr is changing the game for content delivery in the hospitality industry.

Whether you’re looking to boost your website’s engagement or curious about the latest innovations in digital marketing, this episode is packed with actionable insights and expert advice.

Join us for an engaging and informative session, blending business acumen with witty banter, relatable anecdotes, and plenty of laughs. Produced and distributed by Vibrant Management, Virtual GM is your ultimate resource for all things hospitality. Tune in, elevate your game, and don’t forget to visit us on our website for more resources and support.

Produced by Vibrant Management – helping hoteliers and vacation rental managers thrive in the modern world.

Connect w/Jason:
E-Mail: jason@gethovr.com
Website: https://gethovr.com/

Follow us on Instagram -
@thevibrantteam
@virtualgmpodcast

Checkout our website -
www.thevibrantteam.com

Podcast Description: Season 2, Episode 13 of the Virtual GM Podcast

In this insightful episode of the Virtual GM Podcast, Meagan and Cody Adent from the Vibrant Team dive into the top hospitality industry trends of 2024. From booking pace and booking window dynamics to rate strategy and the ever-evolving role of OTAs like Expedia and Booking.com, this episode is packed with the latest insights you need to stay ahead in the game.

Episode Highlights:

• Booking Pace: Understanding current booking trends and how they affect your property's operations.
• Booking Window: Adapting to shifts in how far in advance customers are booking.
• Rate Strategy: Crafting a competitive pricing strategy that maximizes revenue without sacrificing occupancy.
• OTA Insights: Navigating the benefits and challenges of working with OTAs in 2024.
• Marketing Strategy: Implementing effective plans that resonate with today’s travelers.

But that’s not all! We wrap up the episode with 4 Tips to Best Engage Interested Customers:

1. Compelling Offer: Using pop-ups for length-of-stay promotions to capture attention.
2. Consistent Contact with Past Guests: Leveraging emails, texts, and return guest promotions to keep your property top of mind.
3. Retargeting: Utilizing platforms like Meta for retargeting to convert interest into bookings.
4. Strong Team on Phones: Ensuring your team is equipped to close sales from inquiries, and discussing the value of using a secret shop service like BluePrint Creations to assess and improve phone interactions.

Whether you're a boutique hotel owner, VRBO manager, Airbnb administrator, front desk staff, or anyone in the hospitality industry, this episode is packed with actionable insights and expert advice.

Join us for an engaging and informative session, blending business acumen with witty banter, relatable anecdotes, and plenty of laughs. Produced and distributed by Vibrant Management, Virtual GM is your ultimate resource for all things hospitality. Tune in, elevate your game, and don’t forget to visit us on our website for more resources and support.

Produced by Vibrant Management – helping hoteliers and vacation rental managers thrive in the modern world.

Follow us on Instagram -
@thevibrantteam
@virtualgmpodcast

Checkout our website -
www.thevibrantteam.com

Podcast Description: Season 2, Episode 12 of the Virtual GM Podcast

In this exciting episode of the Virtual GM Podcast, your hosts Meagan and Cody Adent from the Vibrant Team announce Vibrant’s next adventure: buying their own Airbnb! After years of working with various properties and refining their processes, they’re ready to demonstrate the success of their proven strategies with their own investment.

Episode Highlights:

• Branding: Establishing a cohesive brand identity with colors, typography, and logos.
• Digital Presence: Creating a custom WordPress website and executing a comprehensive digital marketing strategy (Google, Meta, Organic).
• Direct Bookings via PMS: Utilizing WebRezPro for efficient property management and direct bookings.
• Guest Communication: Implementing Akia to streamline communication with guests.
• OTA Integration: Plugging into platforms like Expedia, Booking.com, Airbnb, VRBO, and TripAdvisor.
• VOIP Setup: Using Mango Voice to facilitate direct booking calls from customers.
• Designing the Destination: Crafting a unique and appealing house that becomes a sought-after destination.
• Call to Actions: Setting up promotions like length-of-stay offers to encourage direct bookings.
• National Recognition: Leveraging tools like Curacity for broader exposure and recognition.

Join us as we share all these trade secrets and more! But before we can implement our strategies, we need your help to find the perfect location. We invite all our listeners and any realtors out there to tell us: where is the next best-kept secret? Where should Vibrant open its first Airbnb? Let us know in the comments!

Whether you're a boutique hotel owner, VRBO manager, Airbnb administrator, front desk staff, or anyone in the hospitality industry, this episode is packed with actionable insights and expert advice.

Join us for an engaging and informative session, blending business acumen with witty banter, relatable anecdotes, and plenty of laughs. Produced and distributed by Vibrant Management, Virtual GM is your ultimate resource for all things hospitality. Tune in, elevate your game, and don’t forget to visit us on our website for more resources and support.

Produced by Vibrant Management – helping hoteliers and vacation rental managers thrive in the modern world.

Follow us on Instagram -
@thevibrantteam
@virtualgmpodcast

Checkout our website -
www.thevibrantteam.com