Consolidation Sweeps European Short-Term Rental Managers With Altido Launch
Skift Take
As external capital pours into the vacation rental sector, it makes sense that some property management companies believe they need to merge to thrive. It's also notable that Marriott has already begun working with some of Altido's properties for its new homesharing effort.
Four European short-term rental property management companies — BnbBuddy, The London Residents Club, Hintown, and RentExperience — have merged operations under a new brand, Altido.
The new London-based company has more than 1,700 distinctive properties in 21 destinations. But it aims to run 2,500 by the end of the year.
On May 10, one of the founding companies, The London Residents Club, began supplying inventory to Marriott for its Homes & Villas by Marriott International short-term rental brand, that officially debuted in late April. Marriott guests can redeem loyalty points for stays at the properties, which the property management firm supplies via a connectivity partner, BookingPal. Executives at Altido said they intend to make more of their properties available to Marriott.
Several factors drove the decision to merge, said Will Parry, a co-founder of London Residents Club and now a co-found
