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 - 14:36 / skift.com / Dennis Schaal / Tim Choate
California-based RedAwning announced it acquired channel manager Lexicon Travel Technologies. Terms of the deal were not disclosed.
Channel managers have tech systems to assist accommodations in distributing their properties to websites such as Airbnb, Vrbo and Booking, and sometimes to global distribution systems, among other outlets.
“After we made the decision to sell our business, we looked for a company that would create true synergies with our existing value proposition,” said Joel Inman, CEO and founder of Lexicon. “As I got to know the RedAwning platform, I realized they have already solved many of the technical challenges Lexicon has been facing. RedAwning brings true technology and automation to channel management that delivers value through higher conversion with essentially zero manual work.”
RedAwning has a portfolio of some 15,000 managed and independent short-term rentals in North America, and already provides channel management services as it places them on websites such as Vrbo, Booking.com, Expedia, Homes & Villas by Marriott International, and Google Travel.
RedAwning hopes to pick up the channel management client roster of Lexicon Travel Technologies, which is headquartered in Park City, Utah. RedAwning is buying Lexicon’s channel management tech.
RedAwning said most of Lexicon’s clients have already related their intentions to use Red Awning for channel management.
“The transitions will be seamless for all of our new clients, as RedAwning already supports all of the same PMS (Property Management System) platforms as Lexicon and all of the channels too, as well as many more for Lexicon clients to join,” said RedAwning CEO Tim Choate in the announcement.
Earlier this week, property management tech company TravelNet Solutions said it acquired Rented, a revenue management company focusing on short-term rentals.
Good morning from Skift. It’s Tuesday, August 29. Here’s what you need to know about the business of travel today.
New York City’s Office of Special Enforcement has approved only 257 short-term rental host registrations — out of 3,250 applications — ahead of a September 5 enforcement deadline.
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.
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.