EDITOR'S COMMENT
• Those expecting the investment surge in the short-term rental industry to drop off over the summer should think again. To illustrate the piquing interest in this particular lodging segment, Israeli property management platform Guesty's $170 million Series E raise is the 56th funding round we have covered so far in 2022 on STRz.
It is easy to see why Guesty has attracted investment too, this time from private equity firms [APAX Digital Funds, MSD Partners and Sixth Street Growth]. Since its $50m Series D raise last April, the company has tripled its valuation and doubled its revenues, while acquiring two competitors in Your Porter and MyVR.
As the lines between working, living, socialising and travelling blur, the convergence between traditional hotels and rental accommodations is accelerating and hospitality management technology is becoming more versatile to keep up with elevated guest expectations.
Guesty wants to scale its global operations, build solutions, secure key acquisitions and expand into new verticals. The injection of private equity into the sector will speed up this convergence with other verticals and facilitate aggressive product development, which TravelNet Solutions and AirDNA are also targeting with new institutional backers.
• On the subject of companies and people to keep an eye on in the coming years, the IHM editorial team will be releasing a very exciting feature this Wednesday.
IHM's 'Ones to Watch' will include 20 noteworthy figures in travel and hospitality who we believe will have a big impact on the industry in the next 12 months. There will be five people representing each sector that is covered by our media portfolio [ShortTermRentalz, Boutique Hotel News, Serviced Apartment News and Urban Living News], as chosen by the editor of each of the websites. Who do you think should be included? Stay tuned to find out!
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