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.
New Life For Lyric in Latest M&A Deal
06.12.2023 - 04:40 / skift.com / Srividya Kalyanaraman
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You read it here first: There are stories of “software eating the world” and leaving a dust trail of fallen companies behind. This is not that story. This is about a tech company and property manager that failed, and a leader who learned a hard lesson about skills and market demands.
Florida-based Black Swan, a real estate investment firm, has acquired former short-term rental operator Lyric, which specialized in multifamily buildings until its demise during the pandemic. The acquisition has bought Black Swan Lyric’s domestic and international trademark rights, operational and performance data, and the lyric.com domain.
Black Swan Buys and Tries to Revive Short-Term Rental Brand Lyric
Only on Skift: Airbnb touted early progress in New York City for its new multifamily building partnerships. Under the program, Airbnb partners with owners of multi-family properties who allow tenants to occasionally rent out their units — in exchange for a share of the revenue.
“About 35% of the housing stock is rentals, and we haven’t scratched the surface of that,” said Jesse Stein, global head of real estate at Airbnb, during an interview on-stage at Skift’s Short-Term Rental Summit in New York City last week. The program points customers to “Airbnb-friendly apartments” for free. Landlords take a share of up to 25 percent of the revenue from a rental.
‘Airbnb-Friendly Apartments:’ Growth in Deals With Landlords For Short-Term Rentals
New This Morning: Co-living platform DoveVivo has launched its first fully-serviced property for mid-to-long-term stays in Paris. The 22 apartments in the South Pigalle neighborhood are aimed at corporate travelers as well as tourists looking for stays of at least 30 days. The rent-to-rent development will see its co-living subsidiary, Chez Nestor, and vacation rental brand Altido working together to market and operate the property. DoveVivo already operates 850 co-living and student rooms in the city as part of its network of 40 destinations across Europe.
People Moves: Luxury vacation rental firm Nocturne Luxury Villas has appointed Scott Wiseman as its new CEO. Prior to the new role, Wiseman was the senior vice president and general manager of Apple Leisure Group Vacations, where he headed up six travel brands. He has also worked at Accor, Cox & Kings, and Abercrombie & Kent Residence Club.
New Money: Paris-based villa rental company So Villas announced that it closed a €10 million ($10.7 million) funding round led by French financial services company ClubFunding Group. The round was a combination of bonds and equity.
Chart of Day: According to cross-border real estate startup Far Homes, depending on the right market and property size, a typical short-term rental
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skift.com
22.12.2023 / 16:41
Amsterdam Picks New Spot For Red Light District Tourism
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22.12.2023 / 05:51
Four New Airlines for the TSA PreCheck Program
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cntraveler.com
19.12.2023 / 00:51
The Best Things to Do in Punta Mita, Mexico—the Newest Hotspot for Quiet Luxury
On the coast of the western Mexico state of Nayarit, the Pacific Ocean meets the Sierra Madre Occidental Mountains. The lush, sand-cushioned shoreline, dependably blue skies, and warm weather offer an ideal—and idyllic—winter pause. Perfect for swimming, surfing, humpback whale watching, and multihued sunsets, the lush and hilly peninsula of Punta de Mita (also called Punta Mita) is home to a slew of luxury resorts, private real estate, and white sand beaches. Its close proximity to many other coastal spots on the Riviera Nayarit means there’s plenty to explore.
thepointsguy.com
18.12.2023 / 21:37
Air India: New crew uniforms, website just the latest as big makeover gains steam
The latest signs of a major transformation at India's flagship airline are taking shape.
nationalgeographic.com
15.12.2023 / 00:41
In Melbourne, local innovators are breathing new life into forgotten spaces
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.
forbes.com
08.12.2023 / 11:17
Where To Go In 2024: 11 New Ideas For Responsible Travel
Slow travel. Conscious travel. Regenerative travel. These are all terms that went from the fringes to the mainstream in recent years, as thoughtful tourists—and the travel agent, destination management specialists and tour operators who make their dreams come true—have started to consider the consequences for the places they visit.
skift.com
06.12.2023 / 23:53
Canadian Curbs on Short-Term Rentals
Happy Thanksgiving, folks! I know you’d rather carve a turkey than open your inbox, so we will keep this brief.
skift.com
06.12.2023 / 04:39
Short-Term Rentals Show Staying Power Throughout the Summer
You read it here first: We’re halfway into the year, and the short-term rental industry has been buoyed by summer travel picking up, despite prevailing economic uncertainty.
skift.com
06.12.2023 / 04:39
Vacasa CEO on Delisting: 'That’s Not Going to Happen'
You read it here first: Swiss travel investor Viadi Group has acquired British luxury villa rental marketplace, Edge Retreats.
skift.com
06.12.2023 / 04:38
AvantStay Cuts Nearly 10% of Workforce
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.
skift.com
06.12.2023 / 04:35
Short-Term Rental Investments Aren't as Easy as You Hear on TikTok
Taylor Jones, a Florida real estate investor, tells us the key to making money from an Airbnb you invested in is the purchase price for the property — and how much revenue you can extract from the property.