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Vacasa secures $108m Series D round led by Silver Lake
Reading Time: 2 minutesUS: Vacation rental management platform Vacasa has announced a $108 million strategic investment round. The financing was led by existing investor Silver Lake with participation from other existing investors including Riverwood Capital and Level Equity. Silver Lake previously invested in Vacasa last October in a $319 million strategic investment round, with participation from the same […]
Expedia Group pledges $275m to COVID recovery
Reading Time: 2 minutesUS: Expedia Group has promised to provide $275 million to help its partners recover from the global pandemic. Approximately $250 million of this will go to the company’s various lodging partners, primarily in the form of marketing credits and financial relief, with the remainder supporting destinations, the industry at large, and additional partner efforts. Each […]
Airbnb lowers internal valuation to $26bn amid drop in bookings
Reading Time: 2 minutesUS: Airbnb has reportedly lowered its internal valuation by 16 per cent to $26 billion as a result of the global lockdowns and restrictions on mobility caused by Covid-19, sources familiar with the matter told Reuters. At the time of its last funding round in September 2017, when it raised $1 billion, Airbnb had a […]
Lobby group calls for OTA bailout help in line with airlines and hotels
Reading Time: 3 minutesEurope: Travel tech lobby group EU Travel Tech has appealed for the European Commission to offer equivalent bailout support to its OTA and global distribution system members in line with the help being offered to airlines and hotels. The group, formerly known as the European Technology and Travel Service Organisation, called on the Commission and […]
Airbnb fails to overturn Santa Monica rental law
Reading Time: 3 minutesCalifornia: Airbnb and Expedia’s HomeAway has failed in their bid to get a Court of Appeals to revoke a law that makes the companies liable for illegal rentals in Santa Monica. The three-judge panel made the judgement this week in a setback for the home-sharing platforms as they seek to avoid regulation by cities which […]
Dubai startup Frank Porter expected to triple growth rate by the end of 2018
Reading Time: 2 minutesDubai: Dubai-based property management company Frank Porter is set to triple its growth rate by the end of 2018, a year after its launch. The Dubai-based start-up manages private properties available for short term rent on home-sharing channels such as Airbnb, Booking.com, TripAdvisor, Expedia and HomeAway. Frank Porter founder Anna Skigin said the firm had […]
Expedia Group acquires Pillow and ApartmentJet to help list apartments online
Reading Time: < 1 minuteWorldwide: Expedia Group has acquired two companies that make it easier to list apartments on short-term rental sites like Airbnb or its subsidiary HomeAway. Expedia said on Thursday that it had acquired San Francisco-based Pillow and Chicago-based ApartmentJet. The former offers a software solution that allows building owners and managers to authorise renters to list […]
eviivo acquires Expedia Group’s software tools for North American expansion plan
Reading Time: 2 minutesLondon: The leading independent hotels and B&B online booking specialist, eviivo, has announced its acquisition of software tools, RezOvation and Webervations, owned by HomeAway® brand BedandBreakfast.com, part of Expedia Group. With this purchase, customers of these travel management tools will now have access to eviivo’s award-winning booking management platform. The London-based company will accelerate its […]
Thomas Cook links up with Expedia for vacation rental plan
Reading Time: 3 minutesWorldwide: Thomas Cook Group is hoping to start offering vacation rentals to its customers through its partnership with Expedia. The two companies announced their partnership back in September 2017, which went live this summer. The alliance initially covered short-term breaks and Thomas Cook’s hotel-only offering, but with Expedia providing its technological resources, both sides are […]