EDITOR'S COMMENT
• It's no surprise to see companies wait until now to make big announcements amidst a packed events calendar, including Guesty's purchase of channel manager Rentals United, which comes hot on the heels of its $130m Series F raise last month.
As we anticipated in our 2024 predictions late last year, consolidation across the sector through M&A [mergers and acquisitions] is accelerating, and the firms that are well backed and ambitious enough to create "robust and unmatched" offerings are starting to flex their muscles. Guesty's purchase of Rentals United, its seventh to date, will enable the company to expand its extensive distribution network, build AI-powered efficiency tools and continue scaling businesses with sophisticated, data-driven products.
Consolidation is somewhat inevitable when an industry is fragmented with many PMS players, but variety / choice should also be welcomed and it can be a catalyst for innovation.
Meanwhile, Airbnb's Summer Release has been met with a mixed response from industry figures, with some online users calling it an "underwhelming PR stunt" and others praising its aspirational message to help hosts earn more revenue through experiences. Whatever your opinion, it has certainly got the guest and host community talking, and as such, Airbnb is playing to its strengths in terms of marketing and promoting unique stays across its platform.
The most notable features of the release [Icons, a category of experiences hosted by stars and influencers, and new group trip planning features] are an obvious nod to popular culture and moving STRs towards the mainstream. While some people may have been expecting more hard-hitting announcements [e.g. around AI], Airbnb has been making similar moves for some time, and it surely forms part of the firm's long-term strategy to become a 'super app', where users control all aspects of the trip and interact socially with other users.
• STRz webinars return today with a session on 'The blurring of travel, hospitality and retail' [4pm BST]. Don't miss the insights of speakers including Natalie Conners [Capital One Travel] and Ashley Ching [Inhaven] - sign up now at this link.
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