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NEWS STORIES
FEATURES
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Editorial comment
25•03•19 Welcome to the latest Short Term Rentalz weekly newsletter!
• Much of this week's news has been dominated by investment stories, as seen by the Series C funding at Guesty and the Series B funding round at The Plum Guide.
Los Angeles-based Guesty announced it had raised $35m in a round led by Viola Growth, increasing the company's existing funding to $60m. It says that it will use the investment to open new offices in key growth markets, as well as to introduce AI and machine learning to its platform to increase its footprint in the vacation rental space.
Guesty CEO and co-founder, Amiad Soto, said: "This market will continue to grow as we see the ripple effects of trends like remote working, the shared economy and travel becoming more of a commodity, rather than a luxury."
Meanwhile, The Plum Guide, which was nominated for "Best Short-Term Rental Platform / Operator" at the recent Serviced Apartment Awards, completed its £14m funding round, in anticipation for the company's rollout to 12 more cities later this year.
The Plum Guide CEO Doron Meyassed said the company was adopting a "systematic and obsessive approach" to vet homes around the world, to solve issues with inconsistent quality in the space.
Meanwhile, the former was among a number of firms present for the VRMA Europe Conference earlier this week in Prague, as rental professionals convened to network, develop their understanding of how to deliver the best guest and homeowner experiences, and exchange ideas and best practices through the Vacation Rental Management Association (VRMA).
The two-day conference hosted educational sessions for industry professionals to gain insights into the latest updates in the space, with notable keynote speakers from Airbnb and Booking.com.
In an interview with Airbnb, which was filmed in Prague, territory manager Robin Clifford discussed how the company was becoming more granular with short-term rentals but also how it was increasingly branching into the hotel and serviced apartment markets.
The next edition of the VRMA Europe Conference is set to be held in Lisbon, Portugal, at the InterContinental Lisbon Hotel, from 15-17 March 2020.
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Paul Stevens, reporter
paul@internationalhospitality.media
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