Articles tagged “property managers”

Early in the pandemic, a bunch of property managers handling multi-family buildings went out of business. Many vacation rental property managers have recently faced a softer reckoning, but an inflection point nonetheless.

Frontdesk's acquisition of Zencity highlights a consolidation trend among property managers, but also the very fragmented nature of the sector.

These things we know are true: Travelers change their booking patterns in response to changes in prices and weather. Travel companies change their finance chiefs when profit is elusive.

Like Sonder, Vacasa is another example of a company that went public way too early via a special purpose acquisition company, or SPAC, merger.

Several news outlets reported erroneously that Airbnb acquired Scottish property portal Letting Cloud. But Airbnb has denied all reports, stating it has not and does not intend to acquire this company.

Built-for-rent projects get a lot of hype, and sure, they suit the socio-economic environment of a tight housing market and a renter-friendly one. But worries about growing inequalities and elusive home ownership persist.

If ever there was a put up or shut up time for vacation rental tech, it is now. Vacasa and top exec T.J. Clark are bent on improving direct relations with homeowners minus nearly 1,600 employees since October.

Vacasa is trying to achieve profitability in 2023 while homeowners are leaving its platform, and it's forecasting that gross booking values will decline. Tough stuff.

Sonder is a prime example of a company that shouldn't have gone public, but the special purpose acquisition company trend enabled it to start trading. From lots of hype to penny stock, that's the story now.

It's clear that Vacasa's ranks were bloated, and that the company was not very well-run in recent years. Like several other now-struggling, newly public companies, Vacasa faces a challenging road ahead.