:
France: Paris hosted the first Vacation Rental Management Association [VRMA] European Conference since 2019 as global short-term / vacation rental professionals gathered in Paris for an educational event building industry collaboration.
The two-day VRMA conference, held at the Pullman Paris Montparnasse hotel, addressed a host of pertinent topics that are currently top of mind in the short-term rental industry, ranging from housekeeping and operations to revenue management strategies, sustainable hospitality, data trends, regulations and artificial intelligence [AI].
On Day One, STRz editor Paul Stevens hosted a session on ‘State of Regulations within Europe and Aboard’ alongside expert speakers including Marie Pistinier [Lokim, SLPM], Scott Leggat [Inhabit], Eduardo Miranda [ALEP] and Vincent Pineau [Beyond].
The VRMA general session focused on:
- Regulations in Europe
- Showcasing what is currently happening in the United States
- Understanding and comprehending how vast regulations are
- Comparing rules and regulations in different parts of the world
- Discussing how we can continue to advocate for short-term rentals
For context, the panel began by analysing three different markets with tightening regulations, from Paris to Portugal and then New York City, where new restrictions came into effect as recently as September 2023.
With a lot of “noise” about regulation across short-term rental markets, Miranda sought to get to the root of the issue, highlighting the situation in Portugal, which used to be considered as a reference model for regulation in Europe until new rental licences were banned in the country last year in order to tackle the housing crisis. He also touched on the STR initiative in Europe, which is moving closer to completion after the European Parliament approved an agreement reached in November with negotiators from member states.
Meanwhile, Pistinier offered insights both from her boots-on-the-ground perspective as a property manager and association leader in her home Paris market and from a wider European angle [as vice-chairwoman of the European Holiday Home Association. Delving deeper into the topic, she highlighted the new campaigns and laws being brought in across France over the coming weeks [not just in Paris] and stressing the need to balance the “cliches” from politicians ahead of the European elections in June.
Citing Barcelona as an example, Pineau disclosed how regulations across Europe are impacting on pricing, occupancy, margins and revenue management strategies, while emphasising the importance of data in informing fairer regulations across the continent and globally.
In contrast to the other panellists, Leggat referred to the dangers of ‘copy-cat-like’ regulations being introduced in different markets, comparing the stringent restrictions being seen in cities such as New York City and those in Europe. He also highlighted how difficult it is to compare the dynamics of the United States to Europe when there is so little state or national regulation currently in the former.
Each of the speakers warned of the need to bring in “proportionate” regulations that do not “scapegoat” the short-term rental industry as the sole contributor to affordable housing crises around the world. In particular, Leggat stressed that the regulation focus will not go away as there are a number of cultural and socio-economic factors that are driving housing shortages, moreover hotels and motels are benefitting from tightening regulations on short-term rentals instead of actually improving people’s quality of life and experiences.
There was also a wider consensus across the panel that the short-term rental industry has to unite and work together towards an advocacy strategy to combat restrictive regulations. Miranda stated that the industry was in a “fragile” position and is in need of true allies, adding that advocacy is a long-term process that never ends and requires big resources.
The timing and location of the VRMA European Conference was all the more intriguing as Airbnb and other short-term rental booking platforms brace themselves for the enforcement of tighter regulations in the French capital, ahead of this summer’s 2024 Olympic and Paralympic Games.
New legislation is due to come into effect to track how short-term rental listings in Paris are being priced significantly higher than those of a similar size for stays between 26 July and 11 August – the dates when the 2024 Olympics are being held.
Millions of tourists are expected to descend on Paris for the two sporting spectacles. At the same time, a Deloitte study published last year suggested that prices in the Île-de-France region [which includes Paris] could increase by as much as 85 per cent during the Games, meaning that a one-night stay on average could cost almost €400.
Airbnb co-founder and CEO, Brian Chesky, urged residents in Paris [both existing and prospective hosts] to put their homes up for rent on a short-term basis in July and August, with up to half a million people expected to book via the platform for the duration of the Games.
In November 2019, Airbnb signed a $500 million deal with the International Olympic and Paralympic Committees to become a Worldwide Olympic and Paralympic Partner, spanning nine years [including the 2020, 2024 and 2028 Summer Olympic Games, the 2022 and 2026 Winter Olympic Games, and five editions of the Paralympics].
More information on the 2025 VRMA European Conference will be announced in due course.
