TRENDING
SHORT-TERM
RENTAL WARS
LUXURY HOTEL CHAINS AIM FOR PREMIUM EXPERIENCE TO GROW AND COMPETE AGAINST THEIR RELATIVELY NEW , NON- TRADITIONAL COMPETITORS .
By KATHAKALI NANDI
As travel sentiment picks up pace among lockdown-weary travelers , the battle for the ever-growing short-term rental guest is waging even stronger with hotel traditionalists like Marriott International and Accor taking on established heavyweights Airbnb and Vrbo . In fact , Homes & Villas by Marriott International ( HVMI ) experienced a 720 % increase in demand Q1 of 2021 .
As more consumers are opting for non-traditional lifestyles untethered from their germ-filled offices and daily commutes , it can more often also lend itself to making non-traditional , nomadic in nature , away from the big crowds lodging choices .
Even before the pandemic , the short-term rental industry was fast emerging as a disruptor in the hospitality business , almost forcing established hotel chains like Marriott and Accor to leap into the sector . While Accor forayed into the luxury home rental market by acquiring Onefinestay in 2016 , Marriott launched HVMI in 2019 .
Both Marriott and Accor compete by stressing premium properties and brand exclusivity . With their established standards of cleanliness , safety and amenities , as well as their loyalty programs , they can sell the idea of offering much more than merely renting out homes and villas .
HUGE INVENTORIES With over 30,000 homes , Marriott curates premium and luxury properties , which are managed by professional property managers instead of individual property owners . All of their homes are professionally cleaned and have a 24x7 support from their property managers .
“ Private home rental offerings are tremendously popular , largely thanks to how well they speak to the trend of combining remote work and school with leisure . Homes & Villas by Marriott International is still a relatively small but fast-growing part of the company ’ s overall business ,” says Jennifer Hseih , vice presi-
106 hotelsmag . com July / August 2021