This year has been an eventful one for short-term rentals around the world: The boom-bust saga and seeming unending fights about new regulations.
06.12.2023 - 04:16 / skift.com / Srividya Kalyanaraman / Tim Choate
Happy hump day, folks! How do you like our new fall look? In today’s required reading recommendation, I insist you take 10 minutes to read this Curbed article, “Upstate Buyers Are Too Rich For Airbnb.”
Here’s a teaser “Before, it was like regular people Airbnb-ing to make their second home work,” Leslie Foti, an agent at Coldwell Banker Village Green Realty, was quoted as saying. “Now everyone that’s buying a house here is rich. They’re like, ewww.”
Alright, let’s get into it.
On the itinerary today:
Colorado’s legislative committee on finance and oversight is holding a public hearing on Tuesday to discuss a proposed bill that will impact short-term rentals in the state.
If passed, starting January 1, 2026, short-term rental units will be classified as either a residential real property or a lodging property based on its use the previous year. How a unit is classified would have a big impact on taxes owners ultimately pay.
Here’s how it would work:
Colorado Hears Arguments on Tax Hikes For Short-Term Rentals
Austin startup Cedar, which provides a platform for the residential construction industry, has raised $3 million in venture funding. Cedar’s platform uses AI-based algorithms and a blend of public and proprietary data to produce building designs. It forecasts a property’s financial prospects. The funding round was led by Caffeinated Capital with participation from Tishman Speyer Ventures.
AI-powered property management solution Jurny has integrated with Vrbo, offering guest communication and reservation management. The Los Angeles-based startup also streamlines with various booking and communication channels including Airbnb, and Booking.com.
Vacation home sales in the United States have plummeted by nearly 75% compared to their peak three years ago due to a severe shortage of available properties. That has caused a significant correction in the second-home market, reported.
RedAwning Partners With Hyatt’s Homes and Hideaways
RedAwning will be the accommodation provider to Hyatt’s new short-term rental platform Homes & Hideaways.
Tim Choate, CEO of RedAwning noted that this strategy benefits property owners, managers, and guests alike. RedAwning’s portfolio of properties and its distribution channels is aimed at onboarding for both the Hyatt team and the hosts and property managers joining Homes & Hideaways.
This year has been an eventful one for short-term rentals around the world: The boom-bust saga and seeming unending fights about new regulations.
When it comes to trends, expedition cruises are the gift that keeps on giving. New Zealand’s fascinating wildlife and ecosystem, the US’s plethora of iconic national parks, and Madagascar’s paradisical diving and hiking sites — these are just some of the exhilarating expedition cruises new for 2024 and beyond. We whittle down nine of our favourites.
Point.me is a paid tool that has revolutionized how I search for award flights. Since it launched in February 2022, it's been adding extra features (such as QuickLook, which shows results faster) and partner integrations (such as Bilt's Point.me integration).
An Aboriginal healer, dressed as a Jedi and wielding a glowing blue boomerang like a lightsaber, beckons to me. Inching my way along the shadowy corridor of Flinders Street Station’s third floor, I find twisted tree roots carved into haunting sculptures, ancient spirits cast in red neon lights, and an ochre termite mound rising from the centre of a cavernous ballroom. A woman’s mournful singing floats in the darkness.
Low-cost airline Breeze Airways is adding to its warm-weather routes next year with seasonal flights from Connecticut to Orlando and new service from the New England state to Orange County, California.
Airbnb settled a tax dispute with Italy for around $620 million (576 million euros), the company said Wednesday.
Taylor Swift’s Eras Tour made headlines even before it began — by overwhelming booking platform Ticketmaster and drawing attention even from the U.S. Senate.
Despite a mediocre snow season last year, the Northeast measured more than 13 million skier visits, its strongest showing in eight years. Much of that interest was driven, no doubt, by the increasing use of multi-mountain passes, with skiers and boarders enjoying late-season snowfall as well as recent snow-making and infrastructure investments.
This is not a story of “Airbnbust,” but instead we’re talking about a correction of the “Airbnboom” that has taken place since the highs of the pandemic.
AvantStay confirmed late Tuesday afternoon it cut 37 employees, or nearly 10% of its workforce. Responding to a Skift inquiry, the Los Angeles-based vacation rental property manager tied the layoffs to platform and tech improvements, adding that the company is profitable.
If you’ve read the various hot takes on the state of the housing market as indexed by Airbnb revenue, here are a few concerns you can put to rest. What will happen to the housing market in a recession is anybody’s guess, but speaking purely of Airbnb as a stock, the company has a few things going for it.
The short-term rental market in Miami isn’t so hot this summer. And there are a number of reasons for that: A slowing of the post-Covid vacation rush, the Florida government’s hostility toward the LGBTQ community, and travelers’ financial constraints due to inflation are a few contributing factors.