Holiday rental specialist HomeAway has brushed itself down quickly after disappointing news over rental policy in New York and is now pushing London as a vacation hotspot.
Late last week, HomeAway and TripAdvisor saw New York governor David Paterson (with the support of NYC mayor Michael Bloomberg) sign into law a measure to ban vacation rentals of less than 30 days in some city buildings - an issue both companies are opposed to.
HomeAway co-founder and chief strategy and development officer, Carl Shepherd, urged others looking to protect important revenue streams to write to Paterson.
But the apparent failure of the opposition campaign - the only leeway appearing to be a stay of execution until mid-2011 - hasn't dampened strategy too much at HomeAway.
The company has switched its attention 3,000 miles across the Atlantic Ocean to London, which happens to have a burgeoning property rental scene and the small matter of the Olympics Games in 2012.
In an announcement today, HomeAway claims the average owner stands to make around £4,500 if they rent a property for the entire 16-day extravaganza, assuming prices double to coincide with the event.
The company currently has 500 properties in the UK capital and is predicting an increase in the number of listings by around 100%, based on experience in South Africa for the World Cup tournament this year when the site experienced a significant increase in residents renting out properties.
The Olympics has the "potential to earn millions in rental income" for Londoners, says UK general manager Tim Boughton.
Unless local government officials introduce similar legislation, of course...
In that regard, Carl Shepherd, HomeAway's chief strategy and development officer, says he thinks the New York action is less a bellweather than a testament to the power of the New York City hotel lobby, which pushed the bill.
Shepherd, a HomeAway co-founder, said the company has been in touch with New York City vacation-rental owners and "friendly competitors" since Paterson signed the bill and will formulate a plan within the next couple of days on how most effectively to get the law overturned.