Real estate services provider JLL is launching a short-term rental platform it’s positioning as a rival to giants in the space including Airbnb and Booking.com.
Called JLL Short Stays, the platform will offer flexible, professionally managed short-term rental stays ranging from three nights to more than 12 months in cities across the United Kingdom.
The platform is powered by U.K. proptech company Lavanda, a software-as-a-service platform that connects real estate portfolio brokers with home-share services.
Lavanda, an existing partner of JLL, raised $5 million back in September 2019.
JLL says the launch of its short-term rental service, which is targeted to both leisure and business travelers, allows its institutional real estate clients and partners to capitalize on the pandemic-driven demand for flexibility in urban rentals.
“The innovative platform lays the foundations for JLL to deliver yet further optimized returns for institutional residential portfolios, creating a unique selling point as it seeks to aggressively expand its residential business,” the company says in a statement.
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JLL Short Stays, which the company is billing as a “more trusted and professional alternative” to major online travel agencies, is launching with more than 1,000 units in the U.K. with a broader global rollout planned for 2022.
“JLL Short Stays offers guests a better value alternative to a hotel or serviced apartment, whilst at the same time providing exclusive access to premium urban accommodation professionally managed by the world’s most trusted blue chip operators - including Greystar, Blackstone, and CA Ventures,” says Sam Winnard, director at JLL.
“This is all wrapped up in a best-in-class online booking experience to deliver a seamless digital guest experience end-to-end. We have big ambitions for our Short Stays platform, and I’m hugely excited to develop it alongside our network of corporate travel bookers into a primary channel of corporate rental demand.”
Adds Lavanda CEO Frederik Lerche-Lerchenborg: “As demand for greater flexibility and digital-first customer experiences continues to sweep the industry and shape its future, so does Lavanda’s technology become increasingly critical to the effective management of institutional real estate. We’re very excited to build upon this launch and explore what the future has in store.”