This was a pretty racy cartoon, full of women in the state of undress and scantily-clad.....but who's complaining? As in a few Betty Boop cartoons, and probably a few others I am unaware of, you could do this prior to 1934.
Flip is trying to sneak out of the "Grand Slam Hotel" without paying his bill. Along the way, he runs into several naked women, is chased by the landlady and a cop and all kind of crazy sight gags are offered along the way.
To give you an example of the sex angle of the story, Flip and the cop stop their chase for a minute to take turns peeking through a keyhole in the hotel at a naked woman drying herself with a towel. There's a lot of that sort of thing in this slapstick-mad cartoon which is so entertaining it's over before you know it.