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Monday 19 July, 2021
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HomeToGo and Lakestar SPAC set to combine in €1.2 billion merger transaction
Vacation rental distribution channel HomeToGo is to merge with special purpose acquisition company [SPAC] Lakestar SPAC I in a €1.2 billion transaction - read more HERE.
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EDITOR'S COMMENT
19•07•21 Welcome to the latest ShortTermRentalz newsletter.
• The last 16 months have been anything but plain sailing for the short-term rental industry, but the signs are that the sector is well positioned for growth as we edge towards a post-pandemic landscape with reduced restrictions.
Many of the companies reporting growth now have been beneficiaries from the domestic travel boom and surge in interest in alternative accommodation, such as rental distribution channel HomeToGo, whose gross booking value soared 27 per cent year-on-year in the first half of 2021 to €904 million [$1.069 billion] despite the pandemic. The startup is now merging with special purpose acquisition company [SPAC] Lakestar SPAC I in a €1.2 billion [$1.41 billion] transaction, as I analysed in my recent video newsletter comments.
Another growth vertical which has largely gone under the radar until now, though, is the boat rental segment. In the latest episode of the STRz podcast, I interviewed boat rental marketplace Flotespace founder Hugh Treseder about the skyrocketing demand for boat rentals, length of stay trends, and the input in the firm of a former TripAdvisor executive.
Treseder's own company reported a 300 per cent increase in requests for boat and yacht rentals over the recent summer season and from this, it is clear that the vertical is now ripe for growth and investment. The desire for safe, stress-free travel, combined with the range of boat accommodation available, makes this a highly lucrative segment right now.
• And make sure you don't miss out on the next helping of no-cost RockSTRz webinars with a session next Tuesday 27 July [4pm BST] on 'The professionalisation of software'.
The session, sponsored by Flywire and PointCentral, will cover everything from how the professionalisation of software will enhance the customer journey, the rise of 3D and virtual tours and how it will encourage travellers to pick rentals over hotels, what the injection of venture capital in ‘optech’ means for the emergence of new software tools, and much more.
Joining STRz editor Paul Stevens in conversation will be:
• James Netska, Sales Director for short-term rentals, PointCentral
• Kelsey Liversidge, Client Experience Lead, Breezeway
• Marcus Räder, Founder and CEO, Hostaway
• Fourth speaker tbc
Sign up for this unmissable, no-cost webinar HERE.
Please click here or contact me if you have a story you want us to tell the industry, or you would like to take part in a feature, podcast or webinar.
For more information and sponsorship / creative solutions advice, contact us at info@internationalhospitality.media.
OUR DIGITAL AND LIVE EVENTS
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International Hospitality Media is the premier specialist in online publishing; conference, exhibition and events, and advisory services for 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.
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