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NEWS STORIES
FEATURES
VIDEOS
Editorial comment
20•04•20 Welcome to the latest ShortTermRentalz weekly newsletter!
• With every passing week during this pandemic, there is a growing realisation of the devastating effects the coronavirus is having on the global travel sector, with Stay Alfred and Booking.com the latest companies to see their plights publicly scrutinised, however many within the industry are also turning their thoughts towards recovery.
On Friday, we reported that it was our understanding that apartment rental startup Stay Alfred was ceasing trading and its social media accounts had been disabled, just three weeks after confirming it would be closing its properties for eight weeks from the start of April due to the virus outbreak.
Like other master lease players such as Lyric and Sonder, the startup has taken out significant lease commitments and companies will be under more pressure than ever to prove the sustainability and profitability of their business models.
The OTAs, too, are having to make emergency contingency plans to fend off the worst effects of the coronavirus, with Booking.com chief executive Glenn Fogel this week admitting layoffs were "probable". Expedia Group has already been forced to make 3000 employees redundant since the start of the year and Airbnb has just raised $1 billion in senior debt, as well as halted all marketing.
And yet, in our first-ever ShortTermRentalz podcast here, Sloane Collection's Eleanor Nesic provided a more positive outlook for the short-term rental industry by predicting a potential upsurge in travel when restrictions are lifted due to the unwavering desire of travellers to take short-term breaks. Despite acknowledging there would be a "seismic" change in travel habits, particularly among business travellers, she said there could be "a lot of positive change that comes out of this".
• Here at STRz, we want to use the collective experience and knowledge of our readership for the good of the sector, and we are appealing for you to share any hints and tips that can help others.
Read Pikl CEO Louise Birritteri's pertinent advice here on managing risk during the pandemic, while LuggageHero founder Jannik Lawaetz delves into how businesses can turn a crisis into an opportunity to adapt their services for the travellers of the future post-Covid-19 here.
You can also look forward to much more pertinent, thought-provoking content over the next few weeks and months as we keep our community informed with everything as it happens in the global short-term rental industry.
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
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