Printed collectively with the Pillsbury Institute for Hospitality Entrepreneurship, this white paper makes a case for consolidating the short-term rental market. The authors delve into the challenges confronted by at present’s greatest venture-backed OpCos; how the maturation of the distribution panorama, improved tech stack, and post-pandemic shopper demand shifts have mixed to create the best atmosphere for consolidation; and the potential for consolidation to result in new hospitality manufacturers.
Over 72 % of all inns in the US are affiliated with giant manufacturers like Marriott, Hilton, IHG, and Hyatt. In distinction, the biggest operator within the short-term rental (STR) market, Vacasa, manages lower than 1 % of the whole market. With round $53.5 billion in gross reserving worth, or about 25 % of all the U.S. lodging business, the STR market presents an attractive consolidation alternative.
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The Cornell Peter and Stephanie Nolan Faculty of Resort Administration is the premier college for hospitality schooling on the planet. As an integral a part of the Cornell SC Johnson Faculty of Enterprise, the varsity is main the world in instructing and researching the enterprise of hospitality—advertising, finance, actual property, operations, and extra, all utilized to the world’s largest and most enjoyable business. Prime college, business leaders, alumni, and college students work collectively to generate new information for the hospitality business and kind the premier community that shapes the business day by day.