Good morning from Skift. It’s Tuesday, August 29. Here’s what you need to know about the business of travel today.
25.08.2023 - 14:01 / skift.com / Srividya Kalyanaraman
OTA Insight, a London-based startup that helps hotels track competitors’ rates, will now include short-term rentals.
The company launched Rate Insight+, which it claims is the first service to give hoteliers a competitive landscape of both hotel and short-term rental data.
At least 46 percent of travelers who paid for lodging in 2021 stayed in a short-term rental at least once, OTA Insight found. To give its hotelier clients a complete picture of what they’re up against, Rate Insight+ will factor in short-term rental prices in comparison to hotels.
“With the majority of booking sites offering both hotel and short-term rental accommodation, market convergence is accelerating, and traveler habits are changing,” Sean Fitzpatrick, CEO of OTA Insight, said in a statement. “Rate Insight+ enables hoteliers to take a comprehensive approach to analyze their market, understand the impact of short-term rental supply, and gain a competitive advantage.”
This launch comes after OTA Insight bought two data analytics services consecutively last year — Madrid-based Transparent and Dallas-based Kriya RevGen in March and April 2022 respectively. Transparent aggregates and cleans up data on more than 35 million vacation rental and short-term rental listings. And Kriya RevGen is a software company that consolidates reservation and related data for hotel chains and property management companies.
At the time of the acquisition, OTA Insight had plans to supplement the data Kriya accesses with market-level and traveler-intent data from its flagship products, to include short-term rentals as a complementary market.
Good morning from Skift. It’s Tuesday, August 29. Here’s what you need to know about the business of travel today.
If you follow the short-term rental industry, you would have read or heard Sonder touting itself as “a leading next-generation hospitality company that is redefining the guest experience through technology and design” countless times.
Blueground is seeing its apartments being rented out as safe havens from political upheavals.
Just about everyone has heard of Airbnb.
A new study on the impact of short-term rentals in Puerto Rico, where the proliferation of Airbnb listings played an outsized role in its tourism recovery following Hurricane Maria, found that a 10 percent increase in short-term rental density in relation to the total number of housing units, led to a 7 percent increase in median rents and a 23 percent jump in housing unit prices.
In an era when travelers see short-term rentals as an ever-more attractive choice, Booking.com’s mix of bookings for these types of accommodations on its platforms in the third quarter ticked up just “slightly” compared with 2019 to around 30 percent, the company said. Isn’t this an historic failure? Shouldn’t Booking.com be gaining more ground?
Airbnb thinks it’s unfair that the European Commission is proposing increased data-sharing requirements on short-term rental providers across the zone, but Google seemingly is escaping the clampdown.
California-based RedAwning announced it acquired channel manager Lexicon Travel Technologies. Terms of the deal were not disclosed.
Due to an increase in demand in the short-term rental sector, Skift is back with our Skift Short-Term Rental Summit on June 7 in New York City. Building upon Skift’s comprehensive coverage of short-term rentals, this summit will focus on the forefront of the impact of technology, platforms, and professionalization on both the urban and traditional vacation rental category.
In the era of slow travel and quicker planning, those who wait until late might win.
There is now another subscription service for short-term rentals.
Portugal’s move to end its “Golden Visa” program and curtail new short-term rental licenses will not impact the vacation rental market in the country — not in the short-term anyway.