MIAMI—Short-term vacation rental management platforms such as YouRent and Airbnb are increasingly growing and beginning to pose viable competition to the hotel industry. A recent study by CBRE Hotels' Americas Research, reveals that from October 2014 to September 2015 travelers spent $2.4 billion on short-term vacation rental lodging and by the year 2020, it's predicted that the vacation rental industry's momentum will reach a threshold that permanently redefines hospitality as we know it.

GlobeSt.com caught up with Brian Ferdinand, COO of YouRent, to get his thoughts on this and other questions in part one of this exclusive interview. Stay tuned for part two, in which he will discuss challenges in the hotel market that make a room for services like YouRent.

Globest.com: What are the key benefits for guests to choose rental management platforms versus a hotel stay?

Ferdinand: There really are three key benefits for guests, starting with the incredible economic value. For the same price or less than a hotel room, guests have substantially more space in their units, with the addition of a kitchen and spacious common area, and benefit from the usage of the same if not additional amenities.

Located in city urban cores, YouRent's properties allow guests to visit and experience cities as if they are locals. Finally, guests benefit from secure access and the privacy of not being in a hotel amongst upwards of hundreds of other visitors.

GobeSt.com: What are the main differences between YouRent and services such as Vacasa?

Ferdinand: Where we differ from Vacasa and other providers in our space is that they are more of a property management firm with locations spread all over the place. We zero in on high-density urban core areas that are very well-populated surrounded by many hotels.

Our platform focuses on accumulating and managing our own inventory of units, primarily in class A, multifamily properties, through long-term and master lease agreements. This allows us to offer a product that is more standardized in quality and design, similar to that of a hotel. What this means is, all of the inventory that we “rent” is our own, allowing for optimal quality control.

GobeSt.com: While worldwide brands such as Marriott and Hilton have the brand recognition, short-term rental providers have some competitive cost advantages that the other companies cannot offer. Discuss these advantages.

Ferdinand: One major advantage is guests pay the same nightly rate as a hotel stay—or less—yet have the comfort of relaxing in a significantly more spacious room with a kitchen and other added features. Plus, with the kitchen feature, they can save on food costs and other hotel-related added charges.

We also eliminate the costs associated with managing food services and hotel staff. Typically, these areas are known as “lost revenue” for hotels. Further, where we are paying for costs relevant to individual units, major hotel brands are carrying the cost of the entire hotel building.

Globest.com: What are the key benefits for guests to choose rental management platforms versus a hotel stay?

GobeSt.com: What are the main differences between YouRent and services such as Vacasa?

Instant Insights /

Could YouRent Disrupt Vacation Rental Market?

Related Stories

Recommended For You