Vacation Rental Industry News Update
March 2, 2020
Vacation Rental Industry News Wrap-Up
From Vacasa’s founder, Eric Breon, stepping down to the OTA’s voicing their disapproval of Google’s vacation rental ads to the coronavirus’s impact on travel, it has been an interesting month for the vacation rental industry. See below for details…
Japanese vacation rental management company H2O raises $7m in Series B funding
February 3, 2020
This brings the total funding it has brought in to $18 million. H2O began its operations in 2015 with Wahome, a South Korean cleaning venture, before acquiring various Japanese companies to form H2O. Currently, the platform features around 5,000 rooms, but plans to expand. The company also offers property management solutions, helping owners manage operations, housekeeping, and bookings on one platform. This helps property managers keep costs down.
Read moreTravel Megatrends 2020: Tourism’s New Competitive Advantage Is Protecting Destinations
February 3, 2020
Destinations that are to remain competitive and attractive to visitors for years to come will have to start protecting their communities and cultural capital now. This shift in approach requires reimagining the way that destination marketing and management intersect — as well as incorporating the concerns of local stakeholders into the tourism boards’ strategic planning.
Read moreAirbnb Freezes Beijing Check-Ins Until March to Curb Coronavirus
February 9, 2020
Airbnb Inc. is suspending check-ins at all of its Beijing listings until March to comply with local regulations intended to curb the coronavirus outbreak that’s spreading across China.
Read moreGoogle’s Vacation Rentals Targeted by Travel Firms in EU Letter
February 10, 2020
Expedia Group Inc., TripAdvisor Inc. and eDreams Odigeo SA asked the European Union to investigate how Google shows vacation rentals, claiming it unfairly gets a prominent placing above other search results.
Read moreWhat’s Next in Travel: Nature Treks, Trips to the Past and Conscious Dining
February 11, 2020
One month into a new decade and a variety of travel trends are emerging on Airbnb. From immersive trekking Experiences, meditative self care on the road, and the rise of more vegan-friendly food Experiences, travelers are seeking ways to have unique, transformative experiences they will remember for years to come.
Read moreUCF Research Shows Vacation Home Rentals Boost Florida's Economy by $27+ Billion Annually
February 11, 2020
“Our research confirms that Florida’s lodging industry for vacations, beyond traditional hotels and resorts, which include rentals like houses, apartments and condos, boosts the economy significantly. Renters remain in the state longer, some up to 30 days, and spend more money, on average $1,000 per person,” says Robertico Croes, associate dean of research at UCF Rosen College.
Read moreVacasa founder Eric Breon resigns as CEO of Portland vacation rental giant
February 11, 2020
Eric Breon, founder of Portland-based vacation rental management giant Vacasa, stepped down as CEO Tuesday. Breon, 41, will remain on the board but another board member, former OpenTable CEO Matt Roberts, will take over as interim chief while the company searches for a permanent successor.
Read moreExpedia shifts focus to direct consumer relationships: “SEO is not the future of our business”
February 13, 2020
Expedia is not happy about changes at Google. According to Barry Diller, Google should have oversight, but Expedia isn’t waiting for the government to step in: “When businesses get to this size they absolutely have to have regulation—sensible regulation . . . I do believe that will happen, but we are making our own efforts. We are driving direct relationships with consumers.”
Read moreGlobal tourism to take an $80 billion hit and a year to shake off the effects of coronavirus outbreak
February 14, 2020
With millions of Chinese cancelling travel plans, or delaying future holidays over safety fears because of the disease, now called Covid-19, online travel companies like Expedia and Tripadvisor are already forecasting a drop in revenues, which could ripple into everything from hotels to retail outlets abroad.
Read moreCondo-World Acquires North Myrtle Beach’s CondoLux
February 20, 2020
Now under one umbrella, Condo-World will extend its marketing, revenue management, and property-care services to CondoLux homeowners. Condo-World will be the parent brand for all marketing efforts and in-market signage, but the CondoLux brand— with its large online presence—will be maintained digitally through its websites and social media profiles to provide additional exposure to all properties.
Read moreTripadvisor Reveals 2020 Travelers' Choice Awards for New Trending and Emerging Destinations
February 25, 2020
Key Largo has been named the top-trending destination in the U.S. for 2020, according to Tripadvisor global traveler data. This 30-mile-long island is a premiere playground for travelers looking for scuba diving adventure, and is home to the world's largest artificial reef. Many of the other domestic trending destinations are a nature lover's paradise. From Moab's red rock arches to Fairbanks' northern lights, scenic destinations across the country surged in popularity this past year.
Read moreBooking Holdings reports positive 2019, braces for coronavirus impact
February 26, 2020
Booking Holdings reported a 4% increase in revenue to $15.1 billion for the full-year 2019, but the travel giant is expecting a “significant and negative impact” for the first quarter of 2020 due to the COVID-19 coronavirus.
Read moreVRM Intel is proud to host another VRM Intel Live! event in Gatlinburg, TN
February 26, 2020
With 26 sessions covering marketing, strategy, operations, property care, technology, and revenue management, we are bringing national-conference-level education, discussion, and speakers directly to the TN mountain markets.
Read moreCoronavirus Threatens to Take $560 Billion Out of Global Corporate Travel Spending
February 28, 2020
The U.S.-based Global Business Travel Association said two-thirds of polled members had postponed at least a few events, while 95 percent had suspended or cancelled most or all trips to China and 23 percent to European countries such as France, Germany and Italy. The virus was fundamentally affecting the way companies do business, said the association’s chief operating officer Scott Solombrino.
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