|
NEWS STORIES
FEATURES
VIDEOS
Editorial comment
22•07•19 Welcome to the latest Short Term Rentalz weekly newsletter!
• In a busy week for the industry, news of OYO Hotels and Homes' $2 billion investment round suggests the company is gearing up for more expansion of its rental division in the coming years.
The primary and secondary management investment round with Cayman Islands-based RA Hospitality Holdings has been preceded by a spate of announcements by OYO, which demonstrate its strong growth, improved margins and enhancements in the overall customer experience.
In June, OYO reported a 4.4x year-on-year growth in revenue compared to the previous 12 months, before revealing that 200,000 of its one million managed rooms were located in India alone. In addition, it purchased Amsterdam-based vacation rental firm @Leisure Group in May and completed a Series E funding round in April with participation from Airbnb.
Those revelations serve to indicate OYO's increasing global positioning as a real estate service platform that wants to improve its offering of high-quality living spaces at affordable prices in desirable locations. The investment will also help to fund the company's audacious expansion plans in India domestically, as well as into the US, China, UK, EU and SEA markets in the longer term.
Founder and CEO, Ritesh Agarwal, said: “It is a very exciting time for OYO right now as we make great living spaces come alive across all corners of the world from Texas to Tokyo. Our endeavour continues to be to become the most loved hospitality brand in the coming years."
Meanwhile, private travel club Inspirato is set to disrupt the short-term rental sector by launching a travel subscription service for clients to access over 60,000 luxury vacation rentals worldwide.
Inspirato Pass requires subscribers to pay a monthly fee to access the company’s portfolio as it looks to exploit the surge in popularity for the luxury vacation rental market fuelled by Marriott, Airbnb and Four Seasons' recent activities in the space.
After setting up Inspirato Real Estate last year, CEO Brent Handler believes the new service will appeal to affluent travellers who are "annoyed with idiosyncratic nightly rates and are accustomed to the ease of subscription models in other areas of their lives like apparel and entertainment".
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
|
|
UPCOMING EVENTS
19 September 2019
Dubai, MEA
|
|
|
|
|
International Hospitality Media is the premier specialist in online publishing; conference, exhibition and events, and advisory services for niche growth sectors of the hospitality industry. The company publishes three industry-leading b2b websites - BoutiqueHotelNews.com and ServicedApartmentNews.com and ShortTermRentalz.com which keep their respective sectors up to speed with news, comment and opinion.
Our conference experience spans four continents and covers high growth segments including boutique, lifestyle and hybrid hotels, serviced apartments / aparthotels and extended stay, and vacation rental. Our events are renowned for their intense focus and attract quality industry leaders, brands and independents, providing unparalleled networking and learning opportunities. We also organise bespoke educational events and investor breakfasts to bring owners, operators and investors together.
'Providing an inspirational community to connect people through world class online platforms and events'
© 2019 International Hospitality Media. All Rights Reserved.
|
|
Confirmation of your subscription opts you in to receive future updates on the event listed above, in addition to relevant communications from our partners. You can opt out at any time.
|
|
##footer##