:
European capitals permitted to rein in rentals during Covid-19 pandemic
Reading Time: 2 minutesEurope: European capitals will be permitted to carry out more rigorous vetting of short-term lets to combat a perceived shortage of long-term housing, according to a ruling by an advisor to Luxembourg’s Court of Justice of the European Union [CJEU]. Among the European tourist hotspots to have taken umbrage at Airbnb’s operations in their operations are […]
NHS Homes scheme expands to over 2,500 homes
Reading Time: 4 minutesUK: NHS Homes, the scheme launched by the short-term rental sector to initially offer free accommodation and amenities to NHS key workers in London, has rapidly expanded its capacity and geographical reach thanks to several new members joining. The scheme is operated by a number of professional management companies in the short-term let industry, under […]
Airbnb receives $1bn funding injection to fend off Covid-19 fallout
Reading Time: 3 minutesUS: Airbnb is to receive $1 billion [£816 million] in investment from California-based Silver Lake and San Francisco’s Sixth Street Partners to help the embattled company deal with the fallout from Covid-19. The substantial financial injection, made up of debt and equity securities is in line with CEO and co-founder Brian Chesky’s announcements last […]
Sykes’ Graham Donoghue: How to navigate Covid-19 as a business
Reading Time: 4 minutesUK: Sykes Holiday Cottages CEO Graham Donoghue speaks to ShortTermRentalz to provide his thoughts on how a business and the the short-term holiday let industry can navigate the testing period during the Covid-19 pandemic and the subsequent consequences for the travel and hospitality space. Firstly, thank you to all the customers, owners and people for […]
Industry leaders create Covid-19 survival guide “The Reset”
Reading Time: 3 minutesWorldwide: Leaders from across the global short-term rental industry have created a Covid-19 survival guide called The Reset, which will serve as a living database of best practices for short-term rental professionals looking to survive the crisis and emerge stronger when guests return. The Reset is being curated by a committee of nearly twenty owners, […]
OYO founder Agarwal to forego 100 per cent of annual salary
Reading Time: 2 minutesIndia: Ritesh Agarwal, founder and group CEO of OYO Hotels & Homes, has announced that he is foregoing 100 per cent of his salary for the rest of the year as the company seeks to unite in the face of the impact of Covid-19 on the global travel and hospitality industry. Furthermore, OYO’s entire executive […]
Airbnb considering convertible note debt solution
Reading Time: 2 minutesUS: According to reports by Bloomberg News, Airbnb is discussing using a convertible note in order to help combat future debt issues. The strategy is a way for companies in need of liquidity to acquire funds without overwhelming their debt capacity. A convertible note allows investors to convert a debt obligation into equity at any […]
Data analysis: Transparent on Covid-19 cancellation trends
Reading Time: 3 minutesWorldwide: In the latest of a bi-weekly data analysis series that we are launching on ShortTermRentalz for the duration of the Covid-19 coronavirus pandemic, we look at the latest cancellation trends compiled by Transparent Intelligence consultant Jade Tinsley. In the midst of an international pandemic which has already claimed more than 20,000 around the globe, […]
STAA poll reveals reservations and income impact caused by Covid-19
Reading Time: 3 minutesUK: The results of a poll conducted by the UK Short Term Accommodation Association [STAA] with its corporate membership has highlighted the severity of impact that the Covid-19 coronavirus has had on companies’ reservations and income. The feedback the STAA received from its corporate members, who represent the majority of the short-term let industry, showed […]
Airbnb to set up $250 million host support fund
Reading Time: 2 minutesUS: After fielding criticism that its refund policy leaves hosts to burden too much of the cost, Airbnb is providing $250 million to support hosts. The company hopes to offset losses caused by coronavirus cancellations to their host community across the globe. The payment applies to those suffering from cancellations made between 14-31 March, the […]