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TravelNest secures £1.8 million funding
Reading Time: 2 minutesUK: Edinburgh start-up TravelNest has secured £1.8 million from Silicon Valley Bank (SVB) and Scottish Enterprise. The Edinburgh-based company’s product aims to improve occupancy rates for holiday rental properties by automating marketing and increasing exposure on booking sites such as Airbnb, Booking.com, Expedia, TripAdvisor and Vrbo, while reducing administration time for property owners. Since lockdown […]
Alloggio looks to float on Australian Stock Exchange
Reading Time: < 1 minuteAustralia: Property manager Alloggio has closed a pre-IPO funding round, ahead of an intended float in late 2021. Alloggio – which is Italian for accommodation – is expected to be valued at around $50 million. Founded in 2015, the company sits between platforms like Airbnb and its property owner customers, handling payments, communication with guests […]
Mandarin Oriental invests in rental firm Stay One Degree
Reading Time: 2 minutesUK: Mandarin Oriental Hotel Group has led a funding round into luxury holiday home rental membership firm Stay One Degree. The funding round, for an undisclosed sum, was led by a strategic investment from the hotel group and will enable Stay One Degree to accelerate the expansion of its global accommodation portfolio and move into […]
Airbnb valuation skyrockets to $100bn amid IPO “bonanza”
Reading Time: 5 minutesUS: After much speculation and anticipation, Airbnb has achieved an eye-watering post-initial public offering [IPO] valuation of circa US$100 billion, marking a huge rise from the $47 billion at the IPO offering price and the $42 billion figure that was initially forecasted earlier this week. The home-sharing platform is raising around $3.5 billion in the […]
Holiday let investment rises due to staycations
Reading Time: 2 minutesUK: Sources across the UK property investment market are seeing significant growth in investor interest in holiday lets. Increased demand in UK staycations after the end of the holiday ban is attributed as a key reason for this jump. According to leading cottage rental agency Sykes Holiday Cottages, inquiries from second homeowners to list on […]
OTA Traveloka raises $250m to boost travel confidence
Reading Time: 2 minutesAsia: Jakarta-based online travel agency and app, Traveloka, has announced that it has raised $250 million to enhance its operations during the coronavirus crisis and restore confidence in the “resilience and the viability of the regional travel industry”. The company has declined to disclose who led the round, apart from it being a “global financial […]
Dutch demand for holiday homes shoots up
Reading Time: 2 minutesThe Netherlands: Demand is rising for holiday homes in the Netherlands, in rural provinces such as Zeeland, Friesland and Drenthe. Luxury homes, are popular in particular, according to Dutch source Financieele Dagblad. Tom van den Brink of holiday home fair company Fairs Consult, said: “Buyers indicate that the world has changed enormously in a few […]
SafeStay Australia partners with I-PRAC for $6m investment
Reading Time: 2 minutesAustralia: Australian short-term rental safety auditor SafeStay have announced a partnership with I-PRAC international. The two together will be investing $6m into the Australian short-term rental market in order to improve safety standards and bolster the sector’s legitimacy. SafeStay was founded by a trio of Australian experts who sought to improve safety standards in the industry […]
Frontdesk secures $6.8 million Series A funding round
Reading Time: 2 minutesUS: Tech-enabled short-term apartment rental startup Frontdesk, which aims to transform the way people experience travel, has announced it has completed a $6.8 million Series A raise in a combination of debt and equity. The financing comes on the heels of the company’s $2.75 million bridge round, raised in summer 2019. Frontdesk co-founder and chief executive […]
I-PRAC to invest £1 million of value into the short-term rental sector
Reading Time: 2 minutesUK: In a bid to transform the short-term rental landscape and support the thousands of operators within it, the CEO of I-PRAC, Chris Maughan, has approved an investment of £1 million into the sector, via the company’s verification platform for rental professionals. In light of the Covid-19 pandemic, Maughan believes there is a great deal to […]