Short-term rental platforms like Airbnb and Vrbo are increasingly reliant on professional property managers to provide quality inventory. This considerably closes the gaps of service standards and reliability between the rental and hotel industries, which brings key opportunities for rental operators.
The short-term and vacation rental industry has been professionalizing for some years now. This means that we increasingly see rentals being operated by professional managers, while the share of small hosts going at it alone is decreasing. It appears the pandemic is further speeding up this process.
In our recent report Impact of COVID-19 on the Short-Term Rental Market we size the short-term rental booking landscape, and provide our estimates for the size of bookings made through the five largest platforms. We also discuss the impacts of a professionalizing sector, and highlight how the