Worldwide: Tracxn, an AI-based business analytics software platform, has identified what it believes will be the future of travel start-ups.
While the list is mostly headed up by business solutions and experience platforms, various short-term and extended stay rental platforms are listed as rising stars.
Heading the list on that front is Lyric, a rising platform that focuses on serviced apartments, whose valuation is meant to be on the rise. This is good news after the company laid off a major portion of its staff earlier in the year.
Vacation rental supplemental platforms were also on the rise, showing that short-term rentals are becoming a wider industry. Notable inclusions are HometoGo, Holidu, and Hostmaker.
Platforms themselves also seem to be thriving, with those that focus on either the managed or similarly unique markets taking precedence. Examples include Lyric, Domio, Travelio and Avant Stay.
The site made shortlisting decisions based on a combination of multiple publicly available signals and detailed analysis of the company by their internal sector team. Those that made the cut have a variety of positive aspects, which include market size, investment size and type, growth prospects and strong execution.
Tracxn separates possible businesses out into Unicorns, Soonicorns and Minicorns- though no short-term rental start-ups made the unicorn list.