Vacation Rental Industry News January 2020
February 7th, 2020
The year started off with Tripadvisor’s brand transformation and changes for Viator, VRM Intel Live, and Airbnb hiring a former Disney Theme Park Executive. Check out January’s highlights here.
Hospitality startup The Guild bags $25M to fuel market expansion
January 6, 2020
Following a year when several companies in the private accommodation space raised eyebrows with nine-figure venture rounds, The Guild is bucking the trend with a more modest capital raise of $25 million. The Guild, which was founded in 2016, converts apartment and office properties into hotel suites. It specializes in corporate travel with an eye towards improving the booking experience for employees.
Read moreToursByLocals survives decade of bootstrapping, raises $33M to accelerate growth
January 13, 2020
ToursByLocals — which sources local guides in some 162 countries, then helps tourists search and book them for either individual or small group tours and experiences in the place they are visiting — is today announcing 33 million Canadian dollars (US$25 million) in funding, from a single investor, Tritium Partners, money that it plans to use to hire more talent, build out its proprietary booking, payment and review publishing technology and expand its business development team.
Read moreOyo’s Global Downsizing Hits U.S. as One-Third of Staff Is Fired in Biz Model Shift
January 13, 2020
India's top hotel company OYO, one of the biggest startups in SoftBank's portfolio, is slashing jobs and warns that more layoffs could be on the way as it scrambles to turn a profit.
Read moreSabre partners with Accor to develop property management and reservations platform
January 22, 2020
Sabre Corporation, the leading software and technology company powering the global travel industry, and Accor, the world-leading augmented hospitality group offering unique experiences in more than 5000 hotels and residences across 110 destinations, announced that they intend to create the first unified central reservation (CR) and property management (PM) platform for the global hospitality industry.
Read moreJetBlue CEO Warns Flight Shaming Is Coming to the U.S.
January 23, 2020
JetBlue CEO Robin Hayes thinks the flight-shaming movement gaining momentum in Europe could spread to the U.S. The airline’s renewed push toward sustainability is in part informed by staving it off. “This issue presents a clear and present danger if we don’t get on top of it,” Hayes said on Thursday during JetBlue’s fourth-quarter and full-year earnings call. “We’ve seen that in other geographies, and we should not assume those sentiments won’t come to the U.S…so it’s very important for airlines get on the front foot of this.”
Read moreTripadvisor begins brand transformation with new course for Viator, executive shakeup
January 23, 2020
As it prepares to mark 20 years in business next month, Tripadvisor is embarking on a dramatic realignment aimed at helping the company preserve profitability and spur new growth as it deals with competition from Google and others and with evolving preferences from travelers. The Viator brand, which Tripadvisor acquired for $200 million in 2014, will now operate independent of Tripadvisor Experiences, with its own marketing, product and engineering teams.
Read moreVRM Intel Live Sandestin
January 23, 2020
VRM Intel is proud to host another VRM Intel Live! event in Sandestin, Florida on Thursday, January 23rd, 2020. We will be hosting this event in the fabulous Baytowne Wharf Conference Center.
Read moreThis New Vacation Rental Service Is Changing the Game for Women Travelers
January 24, 2020
There’s a new homesharing service on the block and it’s available exclusively to women. Launched on January 22, 2020, and headquartered in Austin, Texas, Golightly is a private, invite-only vacation rental club. All listings are vetted and female-owned or -managed, and only members can view and book properties. Named for the Truman Capote character Holly Golightly from Breakfast at Tiffany’s, the platform intends to make renting safer for women while also building a network of female travelers.
Read moreAirbnb Taps a Former Disney Theme Park Exec to Run Its Experiences Business
January 29, 2020
"A veteran of the Walt Disney Company, Powell has lived and worked around the world over the last two decades to deliver immersive experiences to guests. Her appointment comes as consumers, particularly Millennials and Generation Z, are increasingly choosing to spend their time and money on local, authentic things to do rather than on consumer goods. Euromonitor estimated that “consumer’s expenses with experiences should increase from $5.8 trillion in 2016 to $8 trillion in 2030.”
Read moreCoronavirus’ Effect on the Travel Industry Deepens as Global Emergency Is Declared
January 30, 2020
While the World Health Organization has stopped short of calling for a shutdown of global travel and trade, many travel companies are limiting their operations to reduce the impact of the coronavirus outbreak on their financials while helping to safeguard public health.
Read moreHow technology and eco-friendly practices are helping short-term rentals go green
January 31, 2020
Unlike hotels, where services like housekeeping and recycling are centralized on-site, rental homes are dispersed over a given region, which can make streamlining operations in an eco-conscious way somewhat difficult. Along with other corners of the travel sector, the short-term rental industry is starting to steer its attention toward sustainability efforts as players take stock of their impact on the environment and respond to changing traveler expectations.
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