It amazes me that when I tell certain people about Vacayo—how we help homeowners maximize their revenue through shortterm rentals—I’m still occasionally met with skepticism. “Do that many people really prefer other people’s homes to hotels? Are landlords comfortable with a revolving door of guests stay at their place?. Yes, on both counts! If the recent news of Airbnb’s revenue reached 1 billion isn’t enough to convince you that homesharing and the “cottage” industry is here to stay, let me hit you with another statistic—it’s predicted to reach 190 Billion by 2019.
Despite all the regulations and pushback from the hotel lobby, our industry continues to thrive and new markets are opening fast. A lightbulb moment for me was earlier this year, when a large hotel company in Miami (who will remain nameless), approached Vacayo about us leasing 200 of their struggling units. This happened to be an iconic hotel that held memories for me, and at first, I thought “they couldn’t be serious.” But the reality is that in many areas hotels cannot compete with the value Vacayo and the like are bringing to customers.
Kitchens, space, tons of amenities—we are redefining what it means to travel. This latest news further solidifies my belief that a large chunk of hotels will need to restructure themselves look more like vacation rentals. Not unlike how the taxi industry created “Arrow” to compete with Uber. They are being forced to do it better.