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Editorial comment
18•02•19 Welcome to the latest Short Term Rentalz weekly newsletter!
• Our interview this week with Rentl CEO and co-founder, Scott Drexel, offered a key insight into how companies can differentiate themselves in the rental space in 2019.
At a time when large vacation rental companies are expanding their offering, like Airbnb with transportation, Drexel highlighted the need for smaller companies and startups to create a niche offering for a narrower subset, like the luxury, LGBT, green travel or adventure sports markets.
This is most important when trying to introduce your company to a new market because, as Drexel says, "it takes time to build up trust within communities". The more niche booking platforms are now differentiating themselves as experiential travel providers who will enhance the guest experience through their unique, activity-based offerings.
Drexel also called on rental managers to pay attention to the current regulatory environment. by being accountable for their properties and adhering to a set of standards to build up trust with local governments, given the restrictions placed on rentals in cities like Brussels, Berlin and Paris.
Drexel said: "We will look to partner with more local governments to find out about their concerns and position our product as a solution to their problems and ensure guests are properly vetted."
"There are challenges on both sides but there are also significant opportunities to differentiate ourselves in the broader market," he added.
Speaking of regulations, efforts by the Hawaii Department of Taxation to obtain Airbnb hosts' records have been blocked after a judge ruled the state had not met the legal thresholds to use its subpoena power. Airbnb had previously claimed the state was conducting "a fishing expedition".
If you have a story you want us to tell the industry, please click here.
Paul Stevens, reporter
paul@internationalhospitality.media
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