Hospitality Edge Podcast Interview with Duny Co Atj

Introduction

• Guest: Duny Co Atj (DC)
• Host: Podcast focused on real estate and hospitality
• Interview with leaders in the hospitality and real estate industry

Background of Duny Co Atj

• Lawyer background, Canadian trade lawyer
• Transitioned to hospitality and property management
• Owns and operates Sojourn, a hospitality property management company

Development of Sojourn

• Origins: Started with a six-unit building around 2015
• Growth: Grew from 30 units in 2019 to over 320 properties
• Expansion: Located in Washington DC and Tidewater region, with other market operations
• Diversification: Manages diverse properties from urban studios to vacation homes

Transition from Law to Hospitality

• Initially managed properties as a side project while practicing law
• Utilized platforms like Airbnb and others for short-term rentals
• Partnered with Nicole, transitioning to full-time property management
• COVID-19 pandemic accelerated involvement in the business

Business Model and Operations

• Hybrid Approach: Combines short-term and mid-term rentals (plus 30 days)
• Revenue Strategy: Aimed to maintain occupancy and grow organically
• Guest Experience: Focus on concierge level service and consistent guest experience
• Transition to Property Management: Integrated property management to control guest experience

Challenges and Lessons Learned

• COVID-19: Forced adaptation and resourcefulness, emphasized need for operational control
• Brand and Service: Importance of creating a distinguished brand with consistent service
• Liability and Legal Considerations: Importance of insurance, contracts, and compliance
• Tech Stack: Dual software systems to manage operations, seeking integrated solutions

Growth Strategy

• Organic Growth: Largely driven by referrals and networking
• Brand Development: Focus on providing exceptional guest service to build brand reputation
• Future Goals: Expand into more contained properties like boutique hotels, improve guest experience, explore new markets

Industry Insights

• Convergence of Rental Types: Integration of short-term, mid-term, and long-term rentals
• Market Dynamics: Adjust strategies based on regulatory environment and market demands
• Operational Efficiency: Importance of maintaining control over operations to ensure quality

Advice and Reflections

• Growth Considerations: Understand motivations for growth and align business strategy accordingly
• Brand Building Challenges: Difficulties in establishing a national or international hospitality brand
• Vision for Sojourn: Continue to develop operational brand, explore expansion into different property types

Closing Thoughts

• Emphasis on resilience, adaptability, and customer service as key components of success
• Continual learning and adaptation are crucial in the hospitality industry

This summary captures the key insights and themes from the interview with Duny Co Atj on the Hospitality Edge Podcast, discussing her journey from law to hospitality management, the development and operations of Sojourn, and her strategic insights into the industry.