Revealed collectively with the Pillsbury Institute for Hospitality Entrepreneurship, this white paper makes a case for consolidating the short-term rental market. The authors delve into the challenges confronted by at the moment’s largest venture-backed OpCos; how the maturation of the distribution panorama, improved tech stack, and post-pandemic client demand shifts have mixed to create the best surroundings for consolidation; and the potential for consolidation to result in new hospitality manufacturers.
Over 72 % of all inns in the US are affiliated with giant manufacturers like Marriott, Hilton, IHG, and Hyatt. In distinction, the biggest operator within the short-term rental (STR) market, Vacasa, manages lower than 1 % of the entire market. With round $53.5 billion in gross reserving worth, or about 25 % of your complete U.S. lodging trade, the STR market presents an attractive consolidation alternative.
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Concerning the Cornell Nolan Faculty of Resort Administration
The Cornell Peter and Stephanie Nolan Faculty of Resort Administration is the premier college for hospitality schooling on this planet. As an integral a part of the Cornell SC Johnson School of Enterprise, the varsity is main the world in instructing and researching the enterprise of hospitality—advertising, finance, actual property, operations, and extra, all utilized to the world’s largest and most fun trade. Prime school, trade leaders, alumni, and college students work collectively to generate new data for the hospitality trade and type the premier community that shapes the trade daily.
