With glamorous overwater bungalows, five-star resorts, and a decadeslong reputation for indulgence and luxury, the Maldives are known as a vacation destination for the rich and famous.
16.01.2024 - 10:13 / skift.com / Srividya Kalyanaraman
Tech-enabled vacation rental platform Overmoon has emerged from stealth with $80 million in debt and equity funding.
The company was founded in 2021 by Joe Fraiman, who was associated with the Airbnb-backed, shuttered startup Lyric. The company is launching Overmoon Exchange, a fintech-enabled program in partnership with Flock Homes (a startup backed by Andreessen Horowitz), offering vacation home owners tax, time, and investment benefits by contributing their homes to Overmoon’s 721 Fund, Short Term Rentalz reported.
The benefits of the fund include deferring capital gains tax, relieving property management costs, maintaining passive income, and enjoying real estate appreciation in the fund’s portfolio.
The $80 million funding will be broken down as such: $10 million for technology development, $30 million in real estate equity for home down payments, and $40 million in debt financing.
The company’s backers include notable investment firms such as NFX, Khosla Ventures, Camber Creek, and Sunsar Capital. Overmoon, founded in 2021 by CEO Joe Fraiman, aims to combine hotel comforts with the shared spaces of vacation homes.
With glamorous overwater bungalows, five-star resorts, and a decadeslong reputation for indulgence and luxury, the Maldives are known as a vacation destination for the rich and famous.
Berlin-based Myne, a platform for fractional co-ownership of vacation properties in Europe, is expanding to include vacation homes in Sweden.
In the smash new Broadway show Gutenberg! The Musical!, actor Josh Gad reteams with Andrew Rannells, with whom he had undeniable chemistry on stage a decade ago in The Book of Mormon. So where would they travel together, if given the chance? “We would have to go to Uganda,” Gad laughs, referring to their Mormon characters’ journey to eastern Africa. “You’d see how similar we are in real life to Elder Cunningham and Elder Price. It would potentially be both disastrous and life-changing—actually, a great documentary!”
I've never been a light packer, and also find it overwhelming to put together outfits while on my vacation.
Hawaiian Governor Josh Green proposed a number of reforms concerning taxes for tourists and vacation rentals in his State of the State address Monday.
Hawaii Governor Josh Green once again threatened to shut down all short-term vacation rentals in West Maui if enough property owners don’t step forward to house displaced residents from the Lahaina Wildlife.
Hilton said on Monday it had launched a program to match aspiring hotel owners with capital.
New York City’s Office of Special Enforcement says it has now decided on 90% applications from potential short-term rental hosts as part of regulations that kicked in last September.
Following the announcement of new tourist rules for Venice launching this year, the platform for visitors to purchase the €5 fee to enter the city for day-trippers launched today, allowing visitors to make their payment before visiting the city. The fee does not apply for visitors that stay overnight in the city. The authorities in Venice have officially enforced the entry fee, also known as the Venice Access Fee, for day visitors sightseeing in the ancient City of Canals during 29 designated dates in the year. The initiative aims to strike a balance between preserving the daily life of Venice residents and providing an exceptional experience for visitors.
When it comes to making magical memories at Disney World, my family of four has been there, done that, and got the T-shirt … and the collectible popcorn buckets.
It is hard to believe that it has only been about a year since travelers started dabbling in ChatGPT-created itineraries. This year will bring even more experimentation and innovation. “A.I. is like a teenage intern,” said Chad Burt, co-owner of the travel adviser network Outside Agents, “better, smarter, faster than you, but you need to lead them.”
United Arab Emirates-based Silkhaus, a tech-based short-term rental platform, has announced raising a “multi-million” pre-series A financing from San Francisco headquartered-Partners for Growth.