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More travel executives get their mission-critical industry news from Skift than any other source on the planet.Tell me more The co-founder of HomeAway has likened the current spate of special purpose acquisition companies or SPACs to the build-up seen just before the dot com bubble burst in 2001. Since the pandemic, hundreds of so-called “blank check companies” have been formed and there’s appetite for travel companies, in particular in the short-term rental space. But “the SPAC game has gotten crowded,” Carl Shepherd said. “A lot in the pipeline will probably pull back,” he added, speaking at the Skift Live Short-Term Rental and Outdoor Summit. “There’s hundreds of billions tied up chasing unicorns. They’re called that for a reason. With that much money chasing so few opportunities, you realize it might not be the best time.”

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