Israel: Short-term rental property management platform Guesty has announced it has expanded its footprint into Australia.
The company’s launch Down Under will grow its presence to 11 hubs around the world, including in the United Kingdom, Europe, United States, Middle East and Australia. It also has an expansion strategy to venture further into the Asia-Pacific region, such as in New Zealand, Singapore and Hong Kong.
Australia’s short-term rental market is on the rise in cities such as Melbourne and Sydney, with the total reservation volume of rentals in 2018 in the country estimated at a value of US$1 billion.
According to data gathered by AirDNA and Transparent, there are now around 33,500 professionally managed short-term rentals in Australia who use the services of some 750 property management companies.
In an interview with Elite Agent, Guesty co-founder & CEO, Amiad Soto, highlighted the growth of Australia’s short-term rental market in recent need and said it showed that there is a “significant need for tech solutions to help property managers streamline operational task to scale and grow”.
He said: “We are excited to make an impact with our Guesty platform in the Australian market and support property managers to increase their inventory by relying on tools to help get their businesses to the next level.”
Guesty allows users to manage listings across multiple online travel agencies [OTAs], including its premium partners such as Airbnb, Booking.com, HomeAway, Agoda and TripAdvisor. There, they are also able to edit listings, handle guest communication, assign staff tasks and enjoy real-time dynamic pricing from Guesty’s dashboard.
Soto said that due to the thousands of users in 80+ countries using Guesty to streamline their short-term rental businesses, the company recently reported a 150 per cent increase in annual revenue and a 100 per cent increase in listings annually.
Among the platform’s main features are task automation, reporting tools, 24/7 guest communication services and a unified inbox to manage communications with guests in one place.
The expansion into Australia is the result of Guesty’s US$35m Series C funding round in March, led by Viola Growth, which brought Guesty’s total funding raised to US$60m.
Guesty managing director for the APAC region, Yoav Tourel, said the company was “incredibly excited” to increase their localised presence in Australia.
Tourel said: “In the next year, we aim to double our team with a focus on customer-facing, sales and marketing roles to strengthen our presence while continuing to focus on elevating the Guesty product to remain reliable and flexible in this fast-paced ecosystem.
“We look forward to building out our already robust marketplace of Guesty-vetted and -approved third-party partners with additional Australian vendors who share our goal of making the lives of property managers easier,” added Tourel.
For more information, visit the Guesty website here.