Australia's Alloggio Expands Short-Term Vacation Rental Network

Alloggio, a short-term rental property manager based in Australia, has invested $11 million ($16 million Australian) since its November initial public offering. The small company has acquired rights to manage properties and getting its own channel manager by acquiring Aabode.com, reported The Australian.

The company is strengthening its position as one of the country's managers of short-term rentals and vacation homes through a series of acquisitions of companies, including Great Ocean Road Holidays, Best of Magnetic, Prestige Holiday Homes, First National Magnetic Holiday Rent Roll, and The Edge Holiday Rent Roll at Coffs Harbour.

Alloggio now manages about 1,950 holiday homes in the country. For fiscal year 2022, it expects to generate revenue of at least $14 million ($21.5 million Australian) and earnings before interest, taxes, depreciation, and amortization of at least $7 million ($10.5 million Australian).