Simon Lehmann Shares His Predictions for the STR Industry in 2020 and Beyond
Though home-sharing and hospitality is nothing new—we’ve been sharing our spaces since Prehistoric times—the industry has evolved a great deal in the last decade. And the short-term rental (STR) space will continue to grow and change in the years to come. So, what current trends are likely to continue in 2020? And how can we grow as hosts to stay competitive in the decade to come?
Simon Lehmann is the CEO and cofounder of AJL Consulting, a boutique firm with a focus in the private accommodation and STR industry. Prior to AJL, Simon served on the boards of HomeAway, Travelwindow and Inntopia, and spent eight years at the helm of Interhome, where he oversaw a total of 32K STR units in 29 countries. A globally recognized thought leader in the vacation rental and online travel space, Simon has delivered keynotes at VRMA International, the World Tourism Forum and the Vacation Rental World Summit.
On this episode of Get Paid for Your Pad, Simon joins me to discuss how Airbnb has (and hasn’t) changed the STR space, describing the platform’s major achievements in the last 10 years. He shares the trends around professionally managed inventory and predicts whether Airbnb will realize its ambition to become the world’s OTA superbrand. Listen in for Simon’s insight on growing your own property management business and learn how to meet changing guest expectations for STR in 2020 and beyond!
How Airbnb changed the STR space
Created new vertical in existing industryAccelerate supply growth exponentiallyAirbnb’s major achievements in the last 10 years
Established incredible marketplaceCreated many entrepreneurs + businessesMade tourism available to new generationSimon’s top prediction for the STR space in 2020
Supply will become more professionally managedWhat aspiring PPMs should consider in growing a business
Take on quality inventory in good locationMaximize availability + bookabilitySimon’s advice on scaling up a PPM business
Bring on staff, limit self to tasks that add valueBe selective in onboarding new propertiesHow guest expectations are changing in the STR space
More ‘hotel guests’ with higher standardsImprove quality to remain competitiveHow small property managers can stand out
Spend 2 to 3 days in each property yourselfLittle things make big difference (e.g.: personal note)The potential for Airbnb to go public in 2020
All signs point to YESStrategic acquisitionsWhat’s behind Airbnb’s ambition to expand beyond STR
Pressure from current investorsLeverage customer base to sell additional thingsAJL Consulting
Simon on LinkedIn
Vacation Rental World Summit
Airbnb’s Acquisition of HotelTonight
STR Legends Mastermind
Email jasper@getpaidforyourpad.com
Hostfully
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