The Roami Rebrand & Capital Raise
Good Morning Hospitality
03/13/23
•36m
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We are putting our co-host, Brandy Canaley, and Andreas King-Geovanis in the hot seat as our guests this week to uncover the story behind the rebranding (previously Sextant Stays) to Roami and how raising capital has and will impact their business in the current industry landscape!
Industry News:
- SVB Closes : The 2nd biggest bank crash in history (link)
- Signature Bank also closes March 12th
- Storied Collection (Michael Goldin, Co-Founder) was featured on CNBC! Highlighting their business and unique proposition for historic travel. (Link)
AirDNA’s Fact of the Week:
What short-term rental markets are seeing the most demand this year?
- Small city, suburban, and mid-sized cities have the highest growth rates at around 20% YoY growth based on January data.
- Urban and mountain locations grew 15% YoY lagging only slightly behind.
- This includes cities like Scottsdale, AZ, Las Vegas, NV, Palo Alto, CA and Breckenridge Colorado.
Show Notes:
- HFM Merch Store! 10% off for GMH listeners that use this link
- TravelNet joins GMH as an official sponsor! Click this link to check out their special offer for our listeners!
- AirDNA also joins GMH as a sponsor! Register for a free account, then search the market you want to purchase and enter the discount code: GMH20 at check-out!
Previous Episode
Is Banning People From Airbnb The Solution To Fraud?
March 6, 2023
•35m
With more and more conferences, the GMH crew is broadcasting from multiple locations as they dive into industry news and the main topic of Banning Guest from Booking Platforms.
Industry News:
- LMPM is acquired by Inhabit (link)
- Sonder layed off another 14% + stock hitting rock bottom to $.87 (link)
- STR Safety: Child dies of drug overdose in STR (link)
- Accor Co-Founder dies at 91 years old (link)
AirDNA’s Fact of the Week:
We pulled some data on when to get the lowest prices for STRs, based on lead times. On average it's best to wait 2-4 weeks in advance of the trip to get the lowest rate, though the median lead time in 2022 was roughly 33 days (down from 40 days in 2019), so if you wait until 4 weeks in advance of a trip to book, only half of the homes that were available are still available. On average, guests saved about 9% by booking 2 weeks in advance instead of more than 6 months in advance.
The only location type where we see any saving for last minute bookings (less than a week in advance) is in Urban locations, where lead times are the shortest, averaging 24 days in 2022.
Show Notes:
- HFM Merch Store! 10% off for GMH listeners that use this link
- TravelNet joins GMH as an official sponsor! Click this link to check out their special offer for our listeners!
- AirDNA also joins GMH as a sponsor! Register for a free account, then search the market you want to purchase and enter the discount code: GMH20 at check-out!
Next Episode
One Breaking News announcement and a podcast episode later, we're thrilled to see our show continue to grow as a leading news source for the hospitality industry. In this episode we invited Tim Rosolio who is the Vice President of Vacation Rental Success at Expedia Group (Vrbo) to discuss their moat as a platform as Brian Chesky, CEO of Airbnb, recently shared their interest in sponsored listings on their platform. Something Vrbo is already utilizing on their platform.
Industry News:
- Airbnb wants to deepen the moat (link)
- Mint House Appoints Lee as New CEO (Link)
- Operto Closes Series B Funding at $25M and Sam Shank joins their Board
AirDNA’s Fact of the Week:
Where are folks going for Spring Break? Here are the top 5 most popular destinations during March/April 2023 and their growth in demand from 2022.
The top 5 U.S. markets based on bookings for March/April 2023 are:
- Orlando, FL (-12%)
- Phoenix/Scottsdale, AZ (+40%)
- Gatlinburg/Pigeon Forge, TN (+17%)
- Panama City, FL (+14%)
- Miami, FL (+3%)
Top 5 U.S. Markets where demand has grown the most in March/April 2023 compared to 2022 are:
- Jersey City/Newark, NY (+41%)
- Phoenix/Scottsdale, AZ (+40%)
- Minneapolis, MN (+38%)
- The Hamptons, NY (37%)
- Chicago, IL (+35%)
Cape Cod and The Hamptons are the markets where ADR has grown the most year over year, at 43% and 28% respectively.
Show Notes:
- HFM Merch Store! 10% off for GMH listeners that use this link
- TravelNet joins GMH as an official sponsor! Click this link to check out their special offer for our listeners!
- AirDNA also joins GMH as a sponsor! Register for a free account, then search the market you want to purchase and enter the discount code: GMH20 at check-out!
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