Monday 22 June, 2020 TOP STORY STRz podcast 9: Rent Responsibly's David Krauss assesses Covid-19's impact on U.S. rentals Following the publication of Rent Responsibly's US-based Covid-19 impact report, founder and CEO, David Krauss, joins Episode Nine of the ShortTermRentalz podcast. If you missed our last newsletter....
1. Bob W secures €4 million in seed funding round 2. AirDNA reports 20 per cent YOY bookings rise in the U.S. 3. Airbnb launches anti-discrimination initiative 4. Join our LinkedIn group here 5. Jurny unveils next-gen flexible hospitality solution
Editor's comment
22•06•20 Welcome to the latest ShortTermRentalz newsletter!
• The global short-term rental industry has undoubtedly been hit hard by Covid-19, nowhere more so than in the United States. This week, following the publication of its US-based Covid-19 impact report, Rent Responsibly CEO David Krauss joined Episode Nine of the ShortTermRentalz podcast to discuss how businesses are being affected and the key takeaways from the report.
In our interview, Krauss emphasised how important it was for the short-term rental industry in the United States to "step up" in areas of advocacy as markets slowly begin to reopen, as well as to tell the stories of individuals within the space and ensure the implementation of fair rental regulations.
Key takeaways from Rent Responsibly's report included: • 88 per cent of the 1400+ responders said they were somewhat or very dependent on rental revenue • 85 per cent had already reduced their own salary or had to lay off employees • 55 per cent of businesses temporarily closed but only two per cent permanently closed
Those statistics, Krauss said, reflected both the "durability and resilience" of the short-term rental community, as the industry seeks to rebuild and adapt to current demand for longer-term stays.
In Europe, KKR's move to buy Dutch vacation parks company Roompot for $1.1 billion from private equity firm PAI Partners also reflects a commitment to ensuring the recovery of the vacation rental sector.
Roompot, the second largest operator of vacation parks in Europe, saw a 70 per cent YOY drop in revenue in April, but in recent weeks it has seen pent-up demand from domestic customers seeking staycations in rural destinations. Though a second wave remains a very real threat, demand for travel has seemingly surged rather than waned during lockdown, and more investors may look to get their slice of the pie as operators scramble for emergency funding.
KKR director of real estate private equity, Mai-Lan de Marcilly, joined IHM's Urban Living series webinar on 'Investor Sentiment' last week. Click here to watch the replay in full.
• Don't forget to register for the next webinar in our series on Wednesday 24 June at 14:00 BST when we will discuss how work is converging with the new-age of hospitality - or Workspitality.
Joining moderator Piers Brown will be:
Click here to register for the no cost webinar.
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
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