While demand for short-term rentals has showed few signs of waning since the onset of the pandemic – some regions are reporting record levels of demand as of last month – building supply has proven more challenging.
But that’s where some players in the space see opportunity.
For Henrik Kjellberg, CEO of Awaze, the vacation rental group’s biggest opportunity right now is capturing more supply. “There are a lot of second homes that aren’t being rented out,” said Kjellberg, speaking at Phocuswright Europe.
“With rising interest rates, [renting out second homes] is a good way for families to make extra money.”
Patrick Andrae, co-founder and CEO of HomeToGo, said that for the alternative accommodations marketplace, one of its biggest opportunities is bringing more tech solutions to the supply side.
Additionally, Andrae said capitalizing on the “workcation” movement is a top priority for the business.
In a panel discussion with PhocusWire news editor Jill Menze, Kjellberg and Andrae also discussed fragmentation in the European vacation rental market, as well as customer behavior trends, mergers and acquisitions and SPACs.
Watch the full session below.
Executive Roundtable: Alternative No More - Short-Term Rental Checks In - #Phocuswright Europe 2022