In this episode, Rachel, Ashley and Meaghan engage in a comprehensive discussion about the importance of Key Performance Indicators (KPIs) in the hospitality industry. They then dive into the main topic, exploring how KPIs can influence various aspects of a hospitality business, particularly focusing on housekeeping and overall operational efficiency. Rachel mentions the challenges her company faces with housekeeping and the potential for KPIs to provide actionable insights. Meaghan offers detailed advice on tracking KPIs such as cleaning time, costs per property, inspection pass/fail rates, and recurring guest complaints. Ashley adds that understanding these KPIs can lead to better communication with homeowners and more efficient operations. They discuss the emotional aspect of KPIs and how transparency can foster team trust and engagement. Rachel shares her journey from initial fear of transparency to embracing it for better team cohesion. They also briefly touch upon corporate backgrounds and how different companies handle KPI tracking. The episode concludes with a challenge for listeners to start tracking two KPIs and hints at exciting topics for future episodes. The discussion underscores the need for data-driven decision-making in maintaining high operational standards and achieving business growth. rachel@abodeluxuryrentals.com meaghan@inhaven.com ashley@inhaven.com 00:00 Introduction and Greetings 00:54 Welcome to the Hospitality Break Room 01:36 Discussing KPIs and OKRs 03:29 Implementing KPIs in a Growing Company 05:07 Challenges and Benefits of KPIs 18:50 Business Development and Homeowner Acquisition 28:20 Housekeeping KPIs 35:27 Overcoming Overwhelm in Efficiency Tracking 36:19 Turning Housekeeping Supplies into Revenue 37:08 Realizing Profit Potential in Housekeeping 38:49 Breaking Down Housekeeping Costs 46:10 Navigating Housekeeping Challenges 52:02 The Importance of Transparency and KPIs 01:01:42 Implementing KPIs for Operational Excellence 01:08:01 Final Thoughts and Listener Challenge