While occupancy and RevPAN (Revenue Per Available Night) was down year-over-year in most parts of the globe, it was still above 2019 levels, indicating a return to a steadily growing industry, with the hyper-growth years of 2021 and 2022 being outliers.
People are listing short-term rentals on social media and lesser-known platforms, bolstering a rental black market in New York City.
CoralTree Hospitality to Assume Operations of Rental Units, Resort Facilities and Homeowners Associations in Premier Leisure Destinations
When the offering launches, which is expected in the coming weeks, World of Hyatt members will have direct booking access to a unique collection of short-term private home rentals from beachfront escapes to mountainside ski chalets, where they can earn and redeem points beyond the traditional hotel stay.
AAHOA, the Asian American Hotel Owners Association, called for stronger enforcement of short-term rentals in Los Angeles, Calif., in response to a report that Airbnb profits are soaring despite regulations meant to curb illegal listings.
After years of sparring with the city and a failed lawsuit earlier this year, Airbnb has run out of options and is expected to lose thousands of listings in one of its biggest markets.
Hotels and other accommodation continue to be undercut by the lack of regulation in the short-term let market.
Plans for Growth as Consumer Demand for Short-Term Rentals Rises
The City of New York will delay enforcing a municipal law that Airbnb Inc (ABNB.O) said could limit the number of people who can host rentals in the city, a Friday court filing showed.
Rakuten, the Japanese e-commerce giant, is making ambitious moves to building out Rakuten STAY, a vacation rentals model in which it will own, manage and operate its inventory not just in Japan but worldwide – and its accommodation will be fully powered by services within the Rakuten eco-system.