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#017: Megan Smith, Renowned Innkeeping Consultant, Discusses How to Increase Revenues and Improve Operations

Aug 22, 2019

For episode #17 of the Frictionless Innkeeper podcast series, we speak with Megan Smith, a renowned innkeeping expert and consultant, as well as the host of the popular “Inside Innkeeping” podcast series. She discusses how innkeepers can increase revenues, improve operations, and remain competitive.

Remaining competitive in the innkeeping arena is no small challenge, especially in the face of multiple accommodation offerings, and Airbnb growing in popularity. 

However, now is actually a great time for innkeepers to adapt to the changing tourism landscape by pursuing new revenue streams. For example, rather than swimming against the tide of short-term rentals, Megan suggests that many innkeepers consider embracing this change by putting some of their rooms on the Airbnb platform.

She also asserts that there are many great strategies that can help innkeepers greatly improve revenue generation. These include hosting events, mixers, concerts, and weddings, as well as partnering with golf courses, transportation providers, wineries, museums, and art galleries on referral arrangements. 

Another idea is to co-brand and sell local products, as well as focus on your passions – offering surfing lessons as an example.

In this podcast, Megan, who also co-owned and operated The Vermont Inn for 13 years, and served as Vermont’s State Tourism Director, discusses how innkeepers can increase their revenues, improve their operations, and remain competitive:

  •  Megan’s background in the innkeeping industry. (1:05)
  • Insights into Megan’s consulting work. (2:40)
  • How innkeepers can leverage Airbnb. (4:23)
  • Other consulting services and ideas Megan has shared with innkeepers to improve operations. (7:14)
  • Some creative ideas and advice for innkeepers to improve their revenue. (11:20)
  • Insights into how weddings can help drive additional revenue. (15:38)
  • How to secure partnerships with local businesses to create revenue opportunities. (19:32)
  • ·Why this is a good time for innkeepers to be creative and focus on differentiating themselves. (24:03)

We are very thankful to Megan for sharing her insights with us!  You can learn more about Megan’s consulting services, by visiting her website.