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!Topics CoveredHow Airbnb changed the STR spaceCreated new vertical in existing industryAccelerate supply growth exponentiallyAirbnb’s major achievements in the last 10 yearsEstablished incredible marketplaceCreated many entrepreneurs + businessesMade tourism available to new generationSimon’s top prediction for the STR space in 2020Supply will become more professionally managedWhat aspiring PPMs should consider in growing a businessTake on quality inventory in good locationMaximize availability + bookabilitySimon’s advice on scaling up a PPM businessBring on staff, limit self to tasks that add valueBe selective in onboarding new propertiesHow guest expectations are changing in the STR spaceMore ‘hotel guests’ with higher standardsImprove quality to remain competitiveHow small property managers can stand outSpend 2 to 3 days in each property yourselfLittle things make big difference (e.g.: personal note)The potential for Airbnb to go public in 2020All signs point to YESStrategic acquisitionsWhat’s behind Airbnb’s ambition to expand beyond STRPressure from current investorsLeverage customer base to sell additional thingsConnect with SimonAJL ConsultingSimon on LinkedInResourcesVacation Rental World SummitAirbnb’s Acquisition of HotelTonightSTR Legends MastermindEmail [email protected] subscribe to the podcast, please use the links belowClick Here to Subscribe via iTunesClick here to Subscribe via Stitcher (Android users)If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks! Hosted on Acast. See acast.com/privacy for more information.