|
Thursday 11 June, 2020
TOP STORY
Vacation Rentals backs down on no-refund policy
Vacation Rentals, which owns Hoseasons and Cottages.com, has "voluntarily" changed its customer refund policy, following a probe by The Competition and Markets Authority [CMA].
If you missed our last newsletter....
1. EU expecting to lift internal controls by the end of June
2. Airbnb planning to cut 35 per cent of Dublin workforce
3. Culture Secretary urges Brits to go on staycations in July
4. Join our LinkedIn group here
5. Booking.com extends Tans' contract until 2021
Editor's comment
11•06•20 Welcome to the latest ShortTermRentalz newsletter!
• The decision by the Vacation Rentals site, which owns holiday lettings firms such as Hoseasons and Cottages.com, to reverse its refund policy after a probe by UK industry watchdog The Competition and Markets Authority [CMA] looks set to create a precedent for what travel companies will have to offer customers in extenuating circumstances, as is the case with this pandemic.
The company, which manages 22 brands offering short-term holiday lets in the UK, Ireland, France and Italy, has "voluntarily" changed its refund policy, after it previously offered guests vouchers, which had to be used to re-book their trips cancelled due to the coronavirus outbreak by the end of August. It has now pledged that customers will be entitled to a full refund if their booking was cancelled due to Covid-19-related restrictions.
While Vacation Rentals said it had acted "fairly and responsibly at all times", the CMA was compelled to act in April when it sent guidance to travel firms detailing consumer rights and refunds, threatening to take them to court if they failed to comply. Vacation Rentals disputed the nature of the complaints, claiming it had started offering refunds from 30 April, when it first received the guidance from the industry authority.
It marked the first time that the CMA has prompted a change in tact from companies refusing to refund customers for goods or services cancelled due to the pandemic, and the UK ban on non-essential travel. What it also tells us is that authorities are stepping up its efforts to investigate or lead enforcement action against firms deemed to be flouting the law, as customers continue to pursue claims for refunds.
Meanwhile, Airbnb is refusing to rule out going in for its much-publicised IPO by the end of 2020, as it reported a surge in bookings in the United States between 17 May and 3 June. Should the global home-sharing company pull off such a feat, it would represent a remarkable indication of confidence in the travel industry's recovery, especially since forecasters were only predicting a partial rebound by late summer.
• Investment is the topic of our next NO COST Urban Living webinar, which takes place next Wednesday 17 June at 2pm BST and is hosted by IHM editor-in-chief George Sell. The session will look at investor sentiment around short-term rentals, hotels, serviced apartments, student housing, co-living and hostels.
Joining the discussion will be:
• Florian Schmitz, founder and CEO, Resonance Partners
• Michael Abel, partner, TPG
• Christian Birrell, investment fund manager, COLIV Fund, DTZ Investors
• Lissa Engle, founder and managing director, Berkeley Capital Group
• Mai Lan Marcilly, director, real estate private equity, KKR
Click here to register for the webinar now.
The webinar series is a precursor to the URBAN LIVING FESTIVAL 2020: stay-live-work on 25-26 November at Tobacco Dock London.
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
For more information and sponsorship / advertising opportunities, please get in touch with us.
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##