UK: Real estate services firm JLL has announced the launch of JLL Short Stays, a booking platform offering business and leisure travellers professionally managed and fully flexible short-term rental accommodation in the UK, in a bid to compete with the major online travel agencies [OTAs] in the segment.
JLL Short Stays, which is being positioned as a rival and “more trusted and professional alternative” to the likes of Airbnb and Booking.com, is powered by British proptech company Lavanda, a software-as-a-service [SaaS] platform that connects real estate portfolio brokers and home-sharing services.
The platform already has 1,000 listings available in towns and cities across the UK, including London, Manchester, Bristol, Edinburgh, Cambridge and Birmingham, offering fully-serviced accommodation from anything between three nights and 12 months. A broader global rollout of JLL Short Stays is expected in 2022.
According to JLL, the launch of its latest short-term rental offering for both leisure and business travellers will allow institutional real estate clients and partners to leverage the pent-up demand for urban leasing flexibility that has been driven during the pandemic.
A JLL company statement read: “The innovative platform lays the foundations for JLL to deliver yet further optimised returns for institutional residential portfolios, creating a unique selling point as it seeks to aggressively expand its residential business.”
JLL director Sam Winnard said: “JLL Short Stays offers guests a better value alternative to a hotel or serviced apartment, whilst at the same time providing exclusive access to premium urban accommodation professionally managed by the world’s most trusted blue chip operators – including Greystar, Blackstone, and CA Ventures.
“This is all wrapped up in a best-in-class online booking experience to deliver a seamless digital guest experience end-to-end. We have big ambitions for our Short Stays platform, and I’m hugely excited to develop it alongside our network of corporate travel bookers into a primary channel of corporate rental demand,” he added.
Lavanda CEO Frederik Lerche-Lerchenborg said: “As demand for greater flexibility and digital-first customer experiences continues to sweep the industry and shape its future, so does Lavanda’s technology become increasingly critical to the effective management of institutional real estate. We’re very excited to build upon this launch and explore what the future has in store.”
JLL has previous experience operating in the short-term rental space, working alongside Aberdeen Standard Investments to launch software platform Lavanda Residential at the start of 2019.
The platform was designed to enable enable one-night stays in rental accommodation to compete with what the companies called “illegitimate ‘Airbnbing'”, and was trialled in more than 470 units spanning three private rented sector blocks. Later that year in September, Lavanda raised $5 million in funding.
Lavanda is the technology partner for the upcoming inaugural Urban Living Festival [ULF], organised by International Hospitality Media [IHM], at Tobacco Dock London on 26-27 October 2021. The leadership and investment event will bring together urban innovators and investors to collectively define the future of how and where people stay, live and work.
Incorporating IHM events including the Boutique and Lifestyle Hotel Summit, Serviced Apartment Summit Europe, and the ENGAGE corporate travel buyer forum, ULF will cover a diverse range of asset classes, such as hotels and serviced apartments, aparthotels / extended stay hotels, hostels, short-term rentals [all STAY], co-living, build-to-rent [BTR], student accommodation, senior living [all LIVE], the future of the office, co-working, sustainable buildings and proptech [all WORK].
Book your ULF tickets at this link.