Checking into Profits
If you are heading over to No Vacancy this week then you might be lucky enough to meet this man. If not then you must make sure you get to know him through this week’s episode of The Accommodation Show.
Today, we’re diving deep into the nitty-gritty of a topic that every accommodation business owner has on their mind but often struggles to perfect: profitability. You heard me right! We’re peeling back the curtain on what it takes to run an accommodation business that doesn’t just survive but thrives.
Eoin Loftus from Loftus Advisory shares five practical tips to help accommodation businesses fight rising costs, increase profits, and protect their bottom line, including updating your website, identifying top costs, setting targets and tracking KPIs, and recouping credit card surcharges. These tips can help businesses of all sizes, from small Airbnb operators to large hotels, improve their financial outlook and achieve success in a competitive industry.
In this episode, I am joined by Eoin Loftus, a seasoned expert in the accommodation and hotel management sector. With nearly three decades of hands-on experience, Eoin brings a plethora of wisdom and insights to our discussion. This topic is absolutely essential for those of you striving to up your game in the accommodation business. From tactical KPIs to risk management and growth strategies, we cover a multitude of elements that can set your profitability on an upward trajectory.
Why is profitability so important, you ask? It’s the beating heart of any business, but especially crucial in an industry as dynamic and as vulnerable to market fluctuations as accommodation. Don’t let your business merely float—let it sail by understanding the principles of profitability.
The timing couldn’t be better. The episode is packed with high-value content and is, in fact, one of our longest yet. But believe me, you won’t want to skip a minute of this!
🎉 Reasons You Should Listen to this Episode 🎉
Grasp the Importance of KPIs in Driving Profit 📊
Navigating Risks with Sophistication 🛡️
Insightful Ways to Cut Costs Without Affecting Quality ✂️
The Power of a Stretch Target in Achieving Goals 🎯
Turnaround Strategies for Struggling Businesses 🔄
How to Deal with Market Fluctuations 📈
Immediate Steps to Increase Profitability 💰
Eoin Loftus started managing his first property at just 21 and has since built, opened, and run six more hotels over a 24-year period. In the last year, he’s pivoted into consulting with his own advisory business, Loftus Business Advisory. Focused on aiding accommodation businesses in their journey toward profitability and overall performance, he has, in the past 12 months alone, offered his clients over $5 million per annum in profit-generating recommendations. A man of his calibre is exactly who you want advising you on taking your business to the next level!
If you’ve ever found yourself questioning your business strategies, unsure about your next steps, or just keen to ensure that your accommodation business is as profitable as it can be—then this episode is your golden ticket. Time is money, and the insights in this episode are worth every second of your attention.
Eoin and I dive deep into what it takes to rise above challenges and adapt strategies that work. And hey, you don’t have to take my word for it! Listen in to hear directly from someone who’s been on the battlefield, made the tough calls, and emerged victoriously.
So grab your notebook, sit back, and let this episode change the way you look at your accommodation business. It’s more than just a podcast episode; it’s a masterclass in profitability!