Monday 4 May, 2020 TOP STORY STRz podcast 3: AirDNA's Tom Caton on the "future normal" in the short-term sector Tom Caton, chief revenue officer of AirDNA, joins the STRz podcast to discuss how the short-term rental landscape will evolve post-pandemic, creating a "future normal" . If you missed our last newsletter....check out the stories below:
1. Expedia names Kern as CEO and raises $3.2 billion 2. Chesky: Airbnb to facilitate "human connections" 3. IHM hires Jaswal as event producer for ULF 4. Booking.com halts UK rentals until at least 9 May
Editor's comment
04•05•20 Welcome to the latest, new-look ShortTermRentalz weekly newsletter!
• From this week onwards, the ShortTermRentalz newsletter has been revamped with a different look and we are also excited to announce that we will be going to two newsletters a week, with the second edition to be published every Thursday - keep your eye out for that!
But it is not just our newsletter that is being transformed, as AirDNA's Tom Caton told us in our latest podcast here. The Covid-19 outbreak will significantly affect the rental landscape, creating a new "future normal".
In our discussion, Caton predicted that vacation rentals in non-urban locations would see a recovery later this year, given the early glimmers of bookings for late summer. Driven by the knowledge that changes in local areas are much easier to predict than long-distance travel, trends are emerging whereby families seek short-trip "drive-to" destinations where you can rely on being able to get to your accommodation safely.
As time has passed, it is becoming increasingly clear that it will take some time for travel to recover, and as Caton states, the "v-shaped recovery that people were hoping for two or three weeks ago is looking increasingly unlikely" due to high unemployment figures. For this reason, operators will need to mix short- and longer-term rental business to "survive" this pandemic, combining the superior economics of short-term stays and the soaring demand for stays of 15 days or more through booking platforms.
This week, IHM CEO Piers Brown addressed who will be the hospitality and real estate winners and losers in an urban living snapshot piece, Badi CEO Carlos Pierre highlighted the need for "sustainable urban housing" in Europe's capital cities, and newly-appointed head of UK at Fulhaus, Diana Sanni, explored how companies including master lease operators will have to carry out more holistic market research of cities they work in.
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
For more information and sponsorship/advertising opportunities, please get in touch. OUR EVENTS
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' © 2020 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## |