VRS092 – Buying and Selling a Vacation Rental Business with Ben Edwards President of the VRMA

Ben Edwards was one of the first people I met at the Vacation Rental Managers’ Association conference in San Diego last year, at the meet and greet. As President of the Association he has a lot of insight into the vacation rental industry; as a manager at Newman-Dailey Resort Properties he’s got hands-on experience of the day-to-day operation of the business, and as principal of a consulting company specializing in buy/sell transactions, his financial background is invaluable. As you might imagine, we had a wide-ranging conversation and he was a lot of fun to talk to.

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Ben has some great tips on selling a vacation rental company or home and shares his experience of managing 100+ transactions. He talks about:

  • How a chance internship turned a prospective law student into a vacation rental professional
  • The experiences gained from working for the founder of Newman-Dailey Resort Properties (who happens to be his mother-in-law)
  • How a company needs to think about selling long before it actually happens
  • The compelling story that can result in a successful sale
  • The EBITDA and its relevance to valuing a company for sale
  • What you need to add back in to boost the sales price
  • How to find a buyer….and how to find a company to buy
  • What an independent owner needs to do before they put their VR property up for sale
  • The role of an advisor and why there’s value in engaging someone to act on your behalf
  • Issues of regulation and why this is going to have major impact on the VR business


Links

Weatherby Consulting

Exit Strategy – Ensuring Top Dollar for Your Vacation Rental Management Company

Sanctuary Vacation Rentals

Newman-Dailey Resort Properties

A Guide to Buying and Selling a Vacation Rental Company (Slideshare)

EBITDA explained

Where you can find Ben:

vrma.com

Website

@vrma

Twitter

https://www.facebook.com/TheVRMA

Facebook

+VrmaOfficial

Google+

LinkedIN