Vrbo Adds Hotels to Fill In Vacation Rental Gaps skift.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from skift.com Daily Mail and Mail on Sunday newspapers.
The recent Skift Short-Term Rental and Outdoor Summit brought together leaders from online rental marketplaces, investors, startup founders, and outdoor recreation operators for interviews with Skift editors and research analysts. We uncovered what might happen next in both sectors as their growth outpaces the rest of travel and the big questions facing these sectors.
This session features a discussion with Allen Mask, Managing Partner of CōLab, and Laurence Tosi, Managing Partner & Founder of WestCap Group, along with Seth Borko, Skift Senior Research Analyst, on May 19, 2021.
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Awaze is a European vacation-rentals business that U.S. private-equity firm Platinum Equity carved out of Wyndham Worldwide in 2018 in a $1.3 billion deal, including debt. The pandemic boom in domestic lettings of cottages and holiday homes for families in European markets has benefited Awaze, which has this week resumed growth through mergers and acquisitions of property management companies.
Awaze’s Copenhagen-based Novasol brand, which runs homes on behalf of owners, said Thursday it had acquired rental agency Bornholmtours. The deal makes Novasol the largest holiday home rental company on Bornholm, a Danish island popular with visitors from Scandinavia and Germany, with 1,160 rentals. Novasol offers around 50,000 holiday homes across Europe.
More travel executives get their mission-critical industry news from Skift than any other source on the planet.Tell me more
The pandemic not only diverted a flow of travel dollars from city breaks to the great outdoors, it delivered a torrent of new audiences.
The challenge now for those companies benefiting from the behavioral shift is how to stop the tide from turning once the crisis subdues.
RV rental firm Outdoorsy, for example, went from 400 percent year-on-growth in its early years to 4,500 percent growth in the high season last year. It also raised $50 million in funding in 2019.
“We’re starting 2021 with 145 percent growth, and a good proportion are first-time renters,” said Jen Young, co-founder and chief marketing officer, speaking at Skift Live Short-Term Rental and Outdoor Summit on Wednesday. “There’s been a significant influx of new consumer demand.”
4 Key Takeaways From Skift s Short-Term Rental and Outdoor Summit – Skift skift.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from skift.com Daily Mail and Mail on Sunday newspapers.