Happy Friday! Here’s this week's industry news.
Vrbo has decided that they will start adding hotels onto their platform. Now you might ask yourself, “Wait. Doesn't Vrbo stand for ‘Vacation Rentals by Owner?’ Why would they add hotels?” The reasoning behind this decision is that Vrbo wants to help fill in the gaps where travel demand is high and not enough vacation rentals are available. Now, guests may see hotel rooms or resort inventory along with vacation rentals in their Vrbo search when looking for a place to stay.
Looking into buying your own vacation rental or expanding your current supply? A report from Realtor.com has found the most profitable real estate markets for those looking to list their property on sites like Airbnb and Vrbo. They even figured out how many days you would need to rent on average to cover your monthly mortgage payment. The top five locations are: Joshua Tree, CA; Sea Isle City, NJ; Lincoln City, OR; Sedona, AZ; and Blue Ridge, GA.
Canada now has its first 3D printed home, which is the world’s first fully 3D printed tiny-home to be featured on Airbnb. The home was built over 11 days and is constructed from 20 printed elements. All proceeds from Airbnb bookings of the 3D printed home will be put towards the World Housing’s Affordable Homes project.
Southport, NC has approved an ordinance that limits vacation rentals. This prevents owners from setting up new short-term rentals in residential areas. Those already operating vacation rentals must prove they were doing so prior to the ordinance, and must apply for a permit that has to be renewed annually.