Dennis Goedheid

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265 appearances 1 recordings 1 series first heard Sep 2025 last heard Sep 2025

Dennis Goedheid’s voice in public audio — every appearance, attributed to the second.

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The Accommodation Show - Hospitality Success Series! · The Strategy to Scale from 20 to 550+ Properties with Dennis Goedheid · 15 Sep 2025 podcast

Yeah, it was different than what they were used uh to, and and if we um bought contracts from slightly larger companies, it was just easier because then we all of a sudden could could uh uh deliver a lot more and and and better service than these larger companies uh were providing to the owners.

So for them it was a win and and uh uh for us uh too, obviously.

So um really look for for

good uh um fit and and whatever that may be uh for you and then if you look at that uh businesses or or contracts I would say to buy and and that's important in in our industry I would never buy the business itself.

So if you buy a business, if you buy the shares in an existing business you also buy all the liability that comes uh with it.

So if a previous guest all of a sudden

sues you after the the sale, you're on the hook for everything.

If if you all of a sudden a couple of vendors contact you um because they haven't been paid three, four months ago, all of a sudden it's now your responsibility because you're the business owner.

So what we do in in in in our industry usually is we do an asset deal.

So we just buy the contracts and maybe any like

supplies that they may still have.

Um so we we don't buy any of the liability, we only buy the uh assets.

Now in order to do that, you need to look and and review the management contracts from the sellers.

So there needs to be an assignment uh clause in those uh contracts.

So a clause saying that the um the management company can assign the management agreement

To someone else without the owner approval.

If it somewhere says there that they need owner approval, that means that every single owner has to sign an addendum or or a new management agreement, which which makes it a lot harder because you're always gonna have a few that don't respond or or that you cannot reach or that just were already on the edge and now that they have to switch and sign a new new agreement.

gonna go somewhere else anyway.

So um you wanna look for those contracts and make sure that uh that they have an assignment uh clause or or that in your state or or wherever you're located that you are legally allowed to assign contracts without the owner's uh approval.

So once that's uh done and and checked, um you wanna of course look at all the the future bookings and and make sure that you have uh uh an exact idea how much gets paid in in deposits and and uh future bookings.

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