Srividya Kalyanaraman travel tips

The short-term rental sector continues to grow at a rapid pace. In 2019 the sectot was expected to reach a 14% increase in global market share by 2026. Instead, the sector broke that figure in 2021, five years ahead of schedule. Now, Skift Research estimates that short-term rentals currently represent 14.2% of the $908 billion global market for accommodation. 

Luxury hospitality brand Inspirato has appointed a new CEO: Eric Grosse, a current board member, will take over from Brent Handler, Inspirato’s founder and its CEO for the past 13 years, the company announced Monday.  

Airbnb’s summer releases are highly watched in the short-term rental world, and after May’s rollout, CEO Brian Chesky promised more updates to come – he posted on some of them early Wednesday.

European parliamentary group Progressive Alliance of Socialists and Democrats has stressed the need to regulate short-term rental booking platforms, such as Airbnb and Booking.com, to make housing more affordable. The European Parliament’s committee on internal market and consumer protection has given the go-ahead to do so.

The sunshine state of Florida is the nation’s fastest-growing state population-wise for the first time since 1957.  In the 1950s, it was newly popular air conditioning that brought people to Florida, and today it’s remote work. 

Vrbo wants to protect consumers better by levying penalties on hosts who cancel reservations and raising eligibility standards for “premier hosts.”

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. 

American timeshare company Travel+Leisure Group, formerly known as Wyndham Destinations, sold its British subsidiary Love Home Swap to HomeExchange. 

Sustainable tourism organization Fairbnb.coop has launched in the UK. 

German vacation rental marketplace HomeToGo’s revenue grew to €146 million ($155 million) in 2022, up 54 percent from the comparable period in 2021. This is well ahead of its initial guidance of €120-125 million ($127-$132 million) for 2022. The announcement is part of the company’s preliminary results for 2022. 

OTA Insight, a London-based startup that helps hotels track competitors’ rates, will now include short-term rentals.

Berlin-based MYNE, which manages co-ownership of holiday properties, acquired its rival VillaCircle. 

The Swiss city of Lucerne is the latest to place restrictions on short-term rentals. Lucerne citizens voted (64 percent) to limit short-term rental stays to a maximum of 90 days per year.  

Remember the Skift 2023 megatrend forecasting that luxury hospitality will go a step further?

The short-term rental industry can be sustainable, but not without support and structure. As it currently stands, there are few institutional incentives and considerable regulatory obstacles to make sustainability a universal priority.

Thanks to excess supply and lower occupancy, luxury travel brand Inspirato will use online travel agencies including Airbnb and Vrbo to list its luxury rentals — but without the high-end frills.

There are few sectors in the travel industry subject to more of the rat-a-tat-tat pounding of deals, product launches, tactical competitive moves, and business developments than the global short-term rental industry, and that’s why Skift has decided to expand our commitment to the editorial coverage of the sector.

Rental platform Zumper is entering the vacation rental market. 

Technology, powered by artificial intelligence, is coming after many jobs. But in the short-term rental industry where human capital is vital, labor shortages are still a problem. 

Santa Fe, New Mexico hotel La Fonda’s move to branch into short-term rentals to accommodate the demand for hotel guests is yet another affirmation in the world of blended travel.