What We Learned From Short-Term Rentalz Summit

25.10.2023 - 11:09 / skift.com / Srividya Kalyanaraman

We attended the Short-Term Rentalz Summit last week in London, a chance to hear the perspective of industry experts from across Europe.

M&A in Short-Term Rentals

During the initial panel session of the day, Nam Quach from DC Advisory, Filip Lolis from Thayer Ventures, Virginia Bassano of Eight Roads, and Oliver Corkhill from Viadi Group delved into the future of investments and mergers and acquisitions in the short-term rental industry.Nam Quach of DC Advisory said a gap still exists between buyer and seller expectations. As people adapt to the new normal in terms of valuations, he remains optimistic that more transactions will occur. And Phil Lolís of Thayer Ventures acknowledged the challenges associated with investing in a “pure operating platform” at present. He’s exploring the OpCo / PropCo model in search of a potential “Marriott of the short-term rental sector,” especially in the wake of Hyatt’s recent introduction of its vacation rental platform.

Growing Inventory

Steve Milo of VTrips and NUMA CFO Nick Abrahams  in Europe, shared their strategies for supply growth. Milo, highlighted the current emphasis on organic growth by attracting more property owners. This approach is chosen because the costs of equity and debt are presently too high for acquisitions. On the other hand, Abrahams, emphasized the need for operators to act more strategically to effectively monetize their assets.  Julie Brinkman, CEO of revenue management solution Beyond, spoke about the latest trends and understand what travelers are searching for, citing examples like the Taylor Swift concert and the Indy 500 in Indianapolis as events generating high traveler demand.

Smarter Regulation 

I moderated the panel on smarter regulation featuring Paolo Lavaggi of the European Commission, Máire Ní Mhurchú from the Irish Self-Catering Federation, and Steve Lowy of the Association of Serviced Apartment Providers. As the European Commission nears the finalization of its proposed short-term rental accommodation regulations in Europe, Ní Mhurchú and Lowy expressed doubts about the effectiveness of current regulations in their respective markets.  We discussed the definitions of what a short-term rental is, the influence of hotel lobbies in forming new legislation and its impact on tourism. They agreed that regulation alone cannot resolve all housing-related issues, particularly concerning maximum stay limits and registration schemes in certain markets. Looking ahead, they urged European governments to gather more comprehensive data and increase their understanding of the short-term rental sector’s significance to national economies. Their aim is to address affordable housing challenges without unfairly blaming the tourism