Mark Simpson explains how design and guest experience drive higher ROI in property management. Positive reviews lead directly to higher rates and better occupancy, making the guest experience the real lever for returns.
A little flywheel that we've built at Minoan and one that we talk about a lot, which really focuses on tying everything back to the ROI of your business. But we believe that everything starts with nicer design and amenities. Going back to talking about the stuff that you're putting into your property, it matters. If you have a well curated space with items to surprise and delight your guests that's really well designed, you're more likely to have your guests have a better experience at the property. If your guest has a pleasant experience and they're not sleeping on a bed described as a torture device, hopefully they're going to be more inclined to leave a five star review. So it's really, really important to get, you know, as many positive reviews as you can. The better reviews you have, you can absolutely explore charging a higher adr, a higher nightly rate, and it can impact your occupancy. Maybe you have less nights booked, but you're able to charge more. So you're making even more money than you were when you were 80% occupancy. All of this goes back into improving the ROI.
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