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NEWS STORIES
FEATURES
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Editorial comment
23•03•20 Welcome to the latest ShortTermRentalz weekly newsletter!
• The past week may well serve as a stark precursor to more turbulent times ahead in the short-term rental and wider travel industry, particularly following the announcement that Vacasa was laying off a large number of its employees.
Though the company did not specify the exact numbers of workers it was making redundant on Friday, hundreds of now-former employees took to social media on Friday to express their sadness albeit understanding of the decision during these unprecedented times.
A portion of Vacasa's employees are now switching to part-time status for 50 per cent of their pay, as will the executive team, and interim CEO Matt Roberts will receive no compensation this year.
Despite the bad news, we can take solace from the fact that even in times of adversity, individuals and companies are stepping up to show their good will for the rest of the industry:
- UAE-based entrepreneur Khurram Shroff is investing $5 million in British biotechnology firm Vaxbio as it seeks to produce a vaccine for the coronavirus
- Airbnb has launched a new programme to house medics in Italy fighting COVID-19
- Zeevou is offering its service for free to not-for-profit health organisations
In the UK, after British Prime Minister Boris Johnson announced the closure of all hospitality venues in the country, we at IHM have decided to postpone the inaugural Urban Living Festival, which was scheduled to take place in July, until November amid the current level of uncertainty. The event will now take place on 25-26 November 2020, at Tobacco Dock, London [as previously advertised].
Last week, I said unity would be more vital than ever in the months ahead as the travel sector turns its attention towards recovery, and that rang true in STAA chair Merilee Karr's open letter to the UK government on safeguarding the future of the rental economy. To read it, click on the link here.
I'd also recommend reading Abode PR's piece on keeping up communication in uncertain times here.
On Thursday, I will be taking part in a webinar, entitled "The Travel Industry Post COVID-19", at 4pm UK time. The discussion, organised by Enso Connect CEO Francois Gouelo, will focus on how the travel industry can work together as a community to lead a post-coronavirus recovery.
If you have a story you want us to tell the industry, please click here and get involved with the community by joining our ShortTermRentalz LinkedIn group here.
Paul Stevens, news editor
paul@internationalhospitality.media
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UPCOMING EVENTS
20-21 September, 2020
Rove and Letswork, Dubai Marina, UAE
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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.
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