demetrios zoppos - onefinestay - presentation at hack cyprus 2013 insights conference
TRANSCRIPT
The Cycles of Innova0on – Demetrios Zoppos Co-‐Founder & COO 8 September 2013
inven0on vs. innova0on
invent (v.) • "find, discover" • "make up, think up" • "produce by original thought"
innovate (v.) • "introduce as new" • "to renew, restore, to change " • "make changes in something established"
0meline of selected innova0ons
The CoBon Gin
RefrigeraFon <1000 1000-‐1500 1500-‐1800 1900s >2000
Penicillin Telephone Fiat money
Compass The Internet Prin0ng Lightbulb
Gunpowder
the biggest innova0on of all?
• Search/informaFon
• eCommerce
• Internet telephony
• Social Networks
• Internet video
collabora0ve consump0on: a meta-‐innova0on
Collabora0ve consump0on (n.)
• a class of economic arrangements in which
parFcipants share access to products or services,
rather than having individual ownership
• oJen enabled by technology and peer communiFes
collabora0ve consump0on: examples
Tasks Fashion Food
Leisure Money Books
Transport Travel
=
onefinestay on one fine page
complete soluFon for selected urban owner-‐occupiers to earn extra hassle-‐
free income
enabled by a unique service model using proprietary mobile technology which coordinates distributed contract staff
exclusive short-‐stay inventory for
discerning travellers who prefer this to bouFque hotel
a curated, service-‐enabled marketplace
for upscale city accommoda0on
• Founded in London in 2009 by experienced entrepreneurs • $3bn porSolio of homes: 1,000+ London 300+ in New York • Planning roll out in Paris, Los Angeles and other ciFes
hosts earn hassle-‐free income
Independent professionals
Affluent young families
Transi0oning mature couples
Leisurely re0rees
onefinestay delivers onefinestay gets
• Turn-‐key soluFon • Hassle-‐free income • All-‐inclusive nightly rate • Flexibility and control
• City-‐centre inventory • >4 weeks availability p/a • Exclusivity • No principal risk
provision with hotel
quality ameniFes and linens
meet and greet guests at the home
and give an iPhone with our app & info about the local area
t
u
contract teams prepare the home for guests
t
u
Availability 6 weeks+ / year
Loca0on Desirable locaFons
Quality Nicely appointed
Style Characterful & unique Specifica0on Modern ameniFes
Cura0on we accept only 10%
of homes
Control and standardise the guest experience
(linens, towels, meet & greet)
guests enjoy a dis0nc0ve experience
+
the homes are stunning
the press loves it
the guests tell their friends
-‐100 -‐80 -‐60 -‐40 -‐20 0
+20 +40 +60 +80 +100
Mar-‐11 Jun-‐11 Sep-‐11 Dec-‐11 Mar-‐12
NPS +70
Hyde Park London
Tribeca New York
“This is simply one of the best travel experiences we have ever had as a family… It is a credit to you as a company to deliver all you claim, and in our case the level of accommodation and customer
care exceeded all of our expectation”
Stephen, 2 November 2012
growth has been excep0onal
0
200
400
600
800
1000
Jun 10 Jun 11 Jun 12
Total homes
0
100
-‐6 mo. Launch +6 mo. +12 mo.
LON
NY
-‐100
-‐80
-‐60
-‐40
-‐20
0
+20
+40
+60
+80
+100
May-‐11 Nov-‐11 May-‐12 Nov-‐12
NPS
$0m
$10m
$20m
$30m
$40m
$50m
2010 2011 2012 2013
Bookings
scalable YoY growth of 3.2x year to date, on a top line bookings run rate of $35m
replicable NY launched on Fme, under budget, and is growing >2x faster than London
popular Consistent +70 NPS scores and 25-‐30% repeat rates within 12
months
viral >60% of host
growth is referrals
Average home value $2.5m
onefinestay innova0on: people obsessive about hiring
• c.150 hires to >5000+ screened • High hire raFos for HQ
inves0ng in service culture
• Staff engagement programme • Service acculturaFon/rotaFons • High volume service recruitment
developing leaders
• Management training • Performance standards • Coaching and feedback toolkit
onefinestay innova0on: process
customer journey mapping
• Key touch points analysis • SaFsfacFon research
best prac0ce sharing
• Core process documentaFon • Best in class central services
brand standards
• Home and service standards • City rollout framework
onefinestay innova0on: product
What have I learnt about innova0on?
• Screwing up is good
• Need breeds innovaFon
• It’s not just about the idea…
• It’s a labour of love
• Longer term impact of innovaFon is deeper
Closing thoughts
• Don’t listen to (all) advice
• Work hard
• Surround yourself with great people
• Fear nothing
www.onefinestay.com
Become a host
Visit our website
www.onefinestay.com/hosts
Email me [email protected]
Follow us @onefinestay
Demetrios Zoppos Co-‐Founder & COO
Come and stay quote FRIENDS & FAMILY for 10% off