Chris Kirkham
speaker
50 appearances
1 recordings
1 series
first heard Jul 2017
last heard Jul 2017
Chris Kirkham’s voice in public audio — every appearance, attributed to the second.
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Appearances
You pay for it then, or maybe you pay a deposit and then pay for it later.
With these home rental markets, historically, it's always sort of been a little more informal, a little more, you know,
personal, frankly.
I mean, the owners may want to talk to the people who are staying there, get a sense of, you know, if this is a family of four or is this a bachelor party that's going to rent their house out and trash it.
That has sort of always been a characteristic of this home rental market.
And I think now as there's this push to move more of these properties into being kind of a commodity like a hotel where you can instantly book it,
It creates some challenges because I think a lot of owners are resistant to the idea that they would book their property sight unseen to someone that they don't know and maybe they don't have control over their actions.
It's an interesting time to be an owner of one of these properties.
Expedia, in 2015, they purchased HomeAway, which was a company that had...
It sort of evolved in a similar way to Airbnb, but it was less of a booking platform.
It was more kind of an advertising platform for vacation properties or second homes.
And VRBO, which a lot of people have heard of, HomeAway had purchased them prior to Expedia's acquisition of HomeAway.
So it was sort of a model historically where people listed their homes, and the owners paid a fee.
So it was sort of almost like a paid Craigslist deal.
And then the biggest transition has been these sites are now moving more to becoming a booking platform as opposed to a listing platform.
So instead of the owner pays to list their property on the site and leaves their phone number and then people can call them directly, instead, most of the transactions are now happening through HomeAway.
So Expedia purchased HomeAway, which gave them a big inventory of, I think they've got about 1.5
4 million online bookable properties now.
And then Booking.com, which is Priceline's sort of main portal, I guess, for these vacation rentals.
They also have hotels and tons of other kinds of properties as well.
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