Airbnb Called, and D.C. Answered
06.12.2023 - 04:13
/ skift.com
/ Srividya Kalyanaraman
/ William Parry
Welcome to a brand new week, folks! Here’s a Tuesday tidbit for you: Between 2020 and 2021, Manhattan residents who moved to Miami brought $2.9 billion in taxable income with them. And Palm Beach County netted $1.06 billion from these Manhattan ex-pats. Wow, that’s some serious wealth migration.
Alright, strap in, we have a long one today.
I have always wondered why companies decide to rebrand and change identities? And if it indeed achieves the goal — did we switch to calling Facebook, Meta? Are you Alphabet-ing something on the internet or do you continue to Google?
I am not going near X, the former Twitter, that one has most branding pundits puzzled.
But here’s the thing about these rebrands; these are services or products (depends on your tech philosophy) that we consume everyday. What might be the motive of non-consumer facing brands to do this?
I had the opportunity to ask this question to Italian property manager DoveVivo Group, which along with its affiliate brands Altido and Chez Nestor, is changing its name to Joivy.
This joint entity will offer student housing, short term rentals, multifamily apartments, and co-working spaces. Presently, the group operates 4,000 units located in 50 destinations and six countries — all in Europe.
DoveVivo Managing Director Giulio Limongelli said the aim of this rebranding, in part, is to communicate its new brand identity to B2B partners — landlords. And to cement the company’s culture and identity to reflect its global operations.
“It’s important externally that we present a united front in a more accessible, easily understood way rather than a group with arms and legs which have predominantly come through an acquisition,” Altido CEO William Parry said.
Now this is starting to make more sense.
The latest data from the Vermont Housing Finance Agency reveals a continuous rise in the availability of short-term rentals, including Airbnbs and Vrbo properties. As of September, the state recorded 11,747 STRs, a 16% increase from September 2022. Despite a temporary slowdown during the pandemic, the numbers bounced back after the removal of travel and Covid restrictions, reported.
Notably, the strongest months for short-term rentals are September and October, while February, March, and November are less active. The data also indicated a slight dip in average monthly revenue per rental from September 2022 to 2023, settling at $4,181.
The majority of the short-term rental hosts were from Vermont (55%), with out-of-state owners renting the rest. Interestingly, 71% of Vermont’s vacant homes are categorized as “seasonal, occasional use, or vacation homes,” highlighting the contrast with the shortage of homes for sale (4%).
Cabana, a startup facilitating camper