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NEWS STORIES
FEATURES
VIDEOS
Editorial comment
08•04•19 Welcome to the latest Short Term Rentalz weekly newsletter!
• After our recent story about Airbnb's expected Series E funding of OYO Hotels & Homes, the deal, reportedly worth up to $200 million, has now been announced.
The US-based rental platform has not disclosed the amount or terms of the Series E investment publicly, which was proposed back in September.
Airbnb’s president of homes, Greg Greeley, said: "We share a dedication to offering people more choices when traveling, and we’re excited to partner with OYO as we work to make Airbnb for everyone."
Given Airbnb’s expected acquisition of hotel booking service HotelTonight, it is another sign that the company is aiming to become a so-called “comprehensive travel marketplace”, which will act as a one-stop portal for a number of different accommodation types.
The deal will allow Airbnb to tighten its growing focus on hotel business in India and China, as well as to make gains in attracting business travellers to stay in its listed properties, particularly those who prefer to stay in hotels and are willing to spend more when travelling.
OYO global chief strategy officer Maninder Gulati said: “We’re excited by the possibilities and committed to bringing benefits to the millions of travellers who now rely on Airbnb and OYO Hotels & Homes to find a home away from home.”
Airbnb will also benefit from OYO’s growing footprint in China. OYO’s China business, OYO Jiudian, operates over 5,000 hotels and 260,000 rooms in 280 cities as of January 2019.
In other news, the latest annual edition of property management conference KigoWorld was held in Barcelona this week, coinciding with the inaugural Vacation Rental Tech Week.
With sessions led by a number of notable keynote speakers from the industry, Kigo was aiming to push the boundaries of the vacation rental space and bring in fresh insights and information that could be used by the various property managers that attended the conference.
Some of the key highlights included a keynote speech by Wired magazine editor Jeremy White about the implementation of AI and machine learning across various industries, as well as Kigo's launch of its all-in-one "Kigo Marketplace" platform.
Meanwhile, Vacation Rental Marketing Blog (VRMB) founder and industry thought leader, Matt Landau, shared his five model concepts for how to "unlock true and sustained vacation rental independence" with an audience for the first time.
If you have a story you want us to tell the industry, please click here and get involved with the community by commenting on our news stories on our website.
Paul Stevens, reporter
paul@internationalhospitality.media
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UPCOMING EVENTS
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