Team W Properties began in 2014 during a corporate relocation from Dallas, Texas to Pittsburgh, PA. After being temporarily housed in an overpriced and less-than-stellar corporate apartment, it was difficult for Todd and Amy Wiley to ignore how much the situation was calling for improvement. With the recent emergence of online booking platforms and platforms like Airbnb, the couple saw the perfect opportunity to strike and revolutionize the marketplace. Team W quickly added corporate apartments in Tulsa OK, Dallas TX, Pittsburgh PA, Houston TX, Fort Worth TX, and Columbus OH and focused on multi-week to multi-month guests. These guests were relocating, on long-term business assignments, or insurance claims due to storm damage. These long stays are simplistic to manage and reasonably profitable. The plan began as a great success but soon it became clear there was a huge prize in waiting with online booking platforms like Airbnb, Booking.com, HomeAway. STR reports the short-term market for Airbnb is 3%-5% of the hotel market or $3.96 billion. The number of companies willing and able to manage both short and long stays is extremely limited, creating vast opportunities. Long-term guests could be managed with a basic excel spreadsheet but managing up to 50 units with guests coming and going throughout the week was a seemingly insurmountable and endless task.
Furthermore, the company optimized cost structure and the guest experience by creating Amy’s Custom Cleaning to manage the preparation between guests. This created an additional tier of complexity as now they had the staff to schedule and manage.
Guesty afforded a simple solution to manage the newly perfected process from advertising to booking through post guest unit cleaning. The company is able to manage ads on all the popular booking sites and very importantly collect payments for bookings at the time the reservation is placed on many of the sites. This significantly improves cash flow as the company is no longer spending all of the money up front to prepare the units while the booking sites hold the money, often waiting until days after a guest checks out to release the funds. Also, it cannot be overstated how valuable it is just to have the ability to simultaneously manage calendars over the multitude of booking sites and not have to constantly check that reservation’s are blocking dates across the board.
The multi-calendar tool is a very powerful way to get a snapshot of current operations and retrieve a guest’s or unit’s information very quickly. This is the dashboard frequently used to keep a finger on the current pulse of the operation and retrieve information for staff or guests if they reach out in need of information quickly.
Guesty’s task tool is perfect for managing Team W’s very busy cleaning schedule. Individual staff are assigned their units and a daily email goes out to them to show jobs they have accepted or ones they still need to confirm. The cleanings show up in the app the cleaners have on their phones. This app allows cleaners to check off inventory, take pictures, communicate comments, and notify the office when each unit is ready. The task tool even makes paying cleaners easier as it keeps records of the work they have completed.
Team W views the process they have created as a unique and tremendously valuable asset that will allow the company to grow and thrive. This process effectively operates the business in multiple cities and assures a pleasant guest experience. Guesty overlays this process streamlining it and allowing Team W to operate efficiently while spending more time adding units and markets. Now that Guesty is in place Team W is embarking on an ambitious plan to add 300 units in the next 12-15 months. The short-term rental market is thriving because guests see the value of renting a home in lieu of a hotel, Guesty is making it possible for Team W to provide this valuable guest experience on a large scale.