Another month, another story about a destination cracking down on the short-term rental market.
06.06.2024 - 11:23 / skift.com / Rashaad Jorden / Jane Alexander / Jennifer Hsieh
Good morning from Skift. It’s Thursday, June 6. Here’s what you need to know about the business of travel today.
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Booking.com is targeting U.S. travelers to tap into the increasing demand for short-term rentals, writes Reporter Christiana Sciaudone.
Eric Bergaglia, Booking.com’s vice president of Homes & Growth Segments, said at the Skift Short-Term Rental Summit that the company needs to be more U.S.-centric in how it develops products. Sciaudone reports Booking.com is focusing on in particular payments, liability insurance, damage policy to appeal to American consumers.
Bergaglia said that U.S. consumers aren’t as aware of Booking.com as those in other markets worldwide are.
Next, population shifts across the U.S. could drive vacation rental growth in certain markets, writes Reporter Elizabeth Casolo.
AirDNA Chief Economist Jamie Lane said at the Skift Short-Term Rental Summit that the “mass exodus” of people from certain locations would impact where guests stay. Lane said that would result in people vacationing in entirely different markets, with Casolo citing Texas and Florida as states that have seen population growth.
Lane added AirDNA had identified up-and-coming hot spots for vacation rentals. The four highest ranked destinations AirDNA listed were all in Texas.
Finally, Marriott Bonvoy’s Homes & Villas unit is seeing a surge in international reservations — especially in non-traditional destinations, writes Travel Experiences Reporter Jesse Chase-Lubitz.
International reservations are 38% of the unit’s total — up from 14% in 2021, according to Vice President Jennifer Hsieh. While Hseih said Italy, France, and Spain remain popular for guests, she added Marriott is seeing booking jumps in destinations such as Curaçao and the Greek island of Paros. Homes & Villas’ international listings have jumped 39% in the past year.
Hsieh also addressed the matter of standardization. She said travelers aren’t looking for standardization in the home product design — instead they’re focused on consistency in cleanliness, safety and security.
Producer/Presenter: Jane Alexander
Another month, another story about a destination cracking down on the short-term rental market.
Good morning from Skift. It’s Tuesday, June 25, 2024, and here’s what you need to know about the business of travel today.
Americans are heading to New York City for the Fourth of July weekend, but they’re not booking short-term rentals as much as last year.
Looking to combat soaring housing costs, Barcelona mayor Jaume Collboni announced plans to ban short-term apartment rentals by the end of 2028.
Barcelona plans to end short-term rentals after complaints that tourism has priced locals out of the housing market.
Airbnb’s head of policy Jay Carney said recently that New York City Local Law 18 is an example of how not to regulate short-term rentals. But Barcelona officials don’t agree – and think regulations can go further.
Roughly nine months since New York City cracked down on short-term rentals by requiring hosts to register, the Office of Special Enforcement has approved just 2,242 applications.
Big investments in hotel tech are usually reserved for startups selling comprehensive systems like property management.
Jun 14, 2024 • 9 min read
Can property managers successfully build national brands? Have short-term rental businesses tilted too heavily toward travelers instead of homeowners? What has been the impact of New York’s Local Law 18, which amounted to a defacto ban of most Airbnbs, on individual homeowners?
From mid-term rentals to the regulatory environment and artificial intelligence, executives speaking at the recent Skift Short-Term Rental Summit in New York addressed a myriad of topics pertaining to the rapidly booming sector.
Several hotel loyalty programs have seen substantial growth in recent years, with Hyatt reporting it had increased its loyalty program membership 22% in the first quarter from last year.