Investors have poured nearly $4 billion in
the short-term rental sector in the past decade.
It’s been a fast trajectory for a segment that now is as diverse
as the travelers booking stays – from luxury vacation homes and urban apartments
to short, local staycations and months-long trips combining work and travel.
But while data
shows consumers have clearly embraced rentals for their stays, the sector
is still working through some growing pains. Communication breakdowns between hosts
or property managers and guests and discrepancies between property descriptions
and reality can tarnish the guest experience.
And now as COVID – which fueled a boom in the sector as consumers sought
private spaces - moving further into the rear view, how can traveler
satisfaction be sustained? And what is the role of technology to facilitate a
great guest experience?
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At The Phocuswright Conference 2022, a panel of industry insiders
will discuss the challenges and opportunities for the short-term rental sector.
Jamie Cohen is CFO at Vacasa, which debuted
on the public markets in December. Brian Egan is co-founder and CEO at
Evolve, the Denver-based property management company that raised
$100 million in February. And Margot Schmorak is co-founder and CEO Hostfully,
$4 million in May to grow its software platform that helps property manager
maximize distribution and guest experience.
The three panelists join Phocuswright analyst Madeline List for
the discussion on Center Stage.
The Phocuswright Conference 2022
EXECUTIVE PANEL: Growing Pains - The Maturing of Rentals