Ep 28 - What Lessons can we Learn from the Big Hotels with Hotel Management Consultant Adam Knight

GUESTS BIO Adam Knight - is the Principal at Knowing Hospitality, a full-service hotel management company, and Host of The Proven Principles Podcast. He brings 25 years of experience across luxury brands and independent companies. A hospitality veteran and operations expert, he has lived and worked all over North America and the Caribbean. He loves the left brain/right brain dichotomy of the hospitality industry. One minute you’re diving into a P&L, the next you’re tasting the new seasonal menu in the restaurant. His passion lies in understanding how things work and making them better, be it small service experiences or large-scale project management. HIGHLIGHTS OF THE EPISODE 03:31  Adam’s biography 04:23  The beginning of how he got into the hospitality industry and where it’s taking him. 07:43  The biggest opportunity in real estate right now. 09:53  Adam’s outlook on 2021’s hospitality industry. 12:25  Why it’s going to be a bit of a bloodbath. 14:35  Adam’s take on how you advertise/capitalize on the travel trend right now? 18:22  New normal trends on boutique hotels and other levels of the hospitality business. 19:17  Hybrid model of vacation rentals and hotel. 20:37  3 biggest mistakes that Airbnb hosts can learn from hotel owners 23:37  Service providers that automatically adjust rates based on local data. 25:28  The biggest thing that people can implement on their Airbnb business from the hospitality side that could make a big difference. 28:55  Put yourself in a guest’s shoes. 33:18  The reality that someone’s not going to like the experience. 34:47  The way you handle problems makes a big difference. 37:08  The thing to keep in mind when you respond to negative reviews. 38:35  Adam’s standpoint on some best practices to create a standard system for your short-term rental business. 45:53  Creating a culture of a cohesive team. 48:13  Good characteristics when hiring your right-hand man/woman. 50:46  Wher can people get in touch with Adam Knight. 51:42  The no. 1 secret to success with short-term rentals or hospitality. BOOKS MENTIONED: Good to Great - Jim Collins NOTABLE QUOTES (KEY LESSONS): "You potentially have millions of people around in your city that want to come in and get out of the house because the kids are screaming and they can't get any work done, and they'll buy a block of time every so often from you to be able to get their jobs done or just get away from the craziness" - Adam Knight "The mindset that people need to get into it to understand that you sell experiences" - Adam Knight "If you are proactive in communication and just make sure that you win in every single guest every single time you're going to be successful." - Adam Knight CONNECTING WITH THE GUESTS Website: knowinghospitality.com LinkedIn: https://www.linkedin.com/in/adamknight/ Instagram: https://www.instagram.com/adamknight/ Learn more about your ad choices. Visit megaphone.fm/adchoices