Elevate a Vacation Guest’s Experience
In today’s episode, Alex and Annie welcome Mike Flaskey, Former CEO of Diamond Resorts International and Founder of Mike Flaskey Entertainment, as he gives his second public interview since leading the sale of Diamond Resorts to Hilton Grand Vacations in June 2021.
COVID profoundly affected Diamond but innovation allowed them to rebound quickly. Mike shares how they did this and how they pioneered a new way to be valuated on multiples of EBITDA.
He talks about the cutting-edge innovations that time-sharing sales and marketing teams did alongside rental managers, as well as the success of Diamond's Events of a Lifetime. Mike also discusses why time-sharing companies are not able to represent vacation rentals on the sales table even though the industries appear to coexist within the same ecosystem.
Find out more about Mike and how he grew Diamond Resorts through strategic acquisitions, partnerships, and organic growth in this latest episode of Alex & Annie: The Real Women of Vacation Rentals.
“REAL” TALK
Mike: Drive EBITDA to increase market cap
"If you bring Cole in and Cole Swindell does a concert, it's going to cost a thousand dollars per family to sit down and talk to me. But by the time you factor in that triple close, and you look at the EBITDA dollars that they drive to the bottom line, even though if you may have some slight margin compression, you're driving so many more dollars to the bottom line, that's how these companies are evaluated."
"They basically get a valuation on a multiple of their EBITDA. So if you can drive more of these EBITDA dollars and you put that multiple to it, you're increasing the market capitalization of your company. And so we were a first mover and we saw that."
Connect with Mike:
LinkedIn: https://www.linkedin.com/in/mike-flaskey-13496094/
Website: https://mfentertainment.com/
Email: mike@mfentertainment.com
This episode is brought to you by Casago, Guest Ranger and Good Neighbor Tech.
https://www.casago.com/franchise
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https://www.goodneighbortech.com/
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Special thanks to Rev & Research for being the presenting sponsor of Alex & Annie’s List.
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Connect with Alex and Annie and get more real vacation rental goodness:
Alex Husner: https://www.linkedin.com/in/alex-o-husner-%F0%9F%8C%8E-1844306/
Annie Holcombe: https://www.linkedin.com/in/annie-holcombe-vrgal/
AlexAndAnniePodcast.com: http://alexandanniepodcast.com/
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