Short-Term Rental Sector Sees More Consolidation as Tech Startup Guesty Buys Rival MyVR
Photo Credit: A Nord-branded apartment hotel in København, Denmark. Nord uses Guesty as a tech vendor. Guesty, a startup that simplifies the operation and marketing of short-term rental and vacation rentals, has bought smaller rival MyVR. Nord
Skift Take
Venture capitalists see compelling prospects in startups that serve property rental businesses. The latest merger among these startups underscores the broader boom in short-term rentals and vacation rentals.
Guesty, a startup whose software helps property managers operate and market their short-term rentals for travelers, said on Thursday it had acquired a smaller rival, MyVR.
The companies didn't disclose the terms of the sale. The investors in MyVR, which had raised about $7.5 million in funding, sold their stakes. Guesty said it was keeping all of MyVR's employees.
The deal effectively makes the combined company the largest short-term rental property management software maker worldwide, the companies said.
"When we say leading, we mean by the number of connected listings, by booking volumes, and by funding," Vered Schwarz, president and chief operating officer of Guesty. "We're creating a mega-brand for short-term rental tech."
The U.S. market makes up more than half of each brand's customer base, though the companies also operate in dozens of other countries.
Broader Short-Term Rental Trend
The acquisition highlights an under-the-radar market for software. As travelers lo
