Corporate hosts: The rise of professional management in the short-term rental industry

Cocola‐Gant, Agustín; Báez, Jaime Jover; Carvalho, Luís; Chamusca, Pedro

doi:10.1016/j.tmp.2021.100879

Cited by 41 publications

(42 citation statements)

References 38 publications

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“…The geography of these STRs is overwhelmingly concentrated in their city centres (Cocola‐Gant et al. 2021). For instance, Lisbon’s central district of Santa Maria Maior has STRs in 74% of its apartment buildings, according to the 2021 census.…”

Section: Regulating As Facilitating: Reforms To Increase Tourism‐indu...mentioning

confidence: 99%

“…Although digital tourism platforms such as Airbnb have kept the sharing economy rhetoric to legitimise their business (Yates 2021), evidence indicates that the STR market expansion is thanks to professional property managers or corporate hosts (Cocola‐Gant et al. 2021; Deboosere et al. 2019).…”

Section: The Political Economy Of Urban and Housing Financialisation ...mentioning

confidence: 99%

“…In Lisbon and Porto, STR property managers offer approximately 45% of the STR supply (Cocola‐Gant et al. 2021), challenging the claims of digital platforms that they are a peer‐to‐peer economy, an argument that Airbnb has invested a lot of effort and money into to preserve (Yates 2021). Before COVID‐19, Lisbon had 11,208 active Airbnb listings, while Porto reached 6,168 1 .…”

Section: Introductionmentioning

confidence: 99%

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The Political Economy of Housing Investment in the Short‐Term Rental Market: Insights from Urban Portugal

Báez

Cocola‐Gant

2022

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Short-term rentals (STRs) emerged as holiday accommodations, disrupting the hospitality industry in the decade before COVID-19. Mainstream explanations for their growth revolved around digital tourism platforms like Airbnb as market disruptors and the sharing economy rationale. At the same time, critical scholars explored the capitalisation of greater rent gaps in urban central locations. However, these explanations are insufficient to explain the growth of STRs. We supplement them by building bridges between the urban political economy and the geographies of financialisation through the cases of Lisbon and Porto before the pandemic. The paper focuses on tourisminduced housing investment, taking a closer look at the profile of investors in association with STR property managers in the context of the late-entrepreneurial urban regime. We conclude that tourism development has allowed opportunities for housing financialisation through STR professionalisation, enhancing the allocation of interest-bearing capital in tourism-oriented real estate. Resumen: Los alquileres de corta duraci on (STRs en sus siglas en ingl es) surgieron como alojamientos vacacionales, revolucionando la industria tur ıstica en la d ecada anterior al Covid-19. Las principales explicaciones sobre su irrupci on apuntan a que las plataformas de turismo digital, como Airbnb, alteraron el mercado a trav es de la l ogica de la econom ıa colaborativa, mientras que voces cr ıticas tambi en han explorado la capitalizaci on de brechas de renta m as amplias en areas urbanas centrales. Sin embargo, estas explicaciones son insuficientes para comprender el r apido crecimiento de esta tipolog ıa de alojamiento. Aqu ı se complementan tales ideas mediante la articulaci on entre la econom ıa pol ıtica urbana y las geograf ıas de la financiarizaci on a trav es de los casos de Lisboa y Oporto antes de la pandemia. El art ıculo se centra en la inversi on inmobiliaria inducida por el turismo, examinando el perfil de los inversores privados en conjunci on con las empresas de gesti on de propiedades para alquiler tur ıstico en el contexto del urbanismo empresarial tard ıo. As ı, concluimos que el desarrollo tur ıstico reciente ha ampliado el horizonte de financiarizaci on de la vivienda gracias a la profesionalizaci on del alquiler vacacional, maximizando los beneficios del capital invertido en bienes inmobiliarios para uso tur ıstico.

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Section: Regulating As Facilitating: Reforms To Increase Tourism‐indu...mentioning

confidence: 99%

Section: The Political Economy Of Urban and Housing Financialisation ...mentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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The Political Economy of Housing Investment in the Short‐Term Rental Market: Insights from Urban Portugal

Báez

Cocola‐Gant

2022

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“…La professionalizzazione degli host è uno dei temi chiave per analizzare il fenomeno dell'espansone di Airbnb a livello globale. Negli ultimi anni, molti altri studi hanno analizzato questa differenziazione tra gli host di Airbnb (Deboosere et al 2019;Dogru et al 2020;Gil and Sequera 2020;Cocola-Gant et al 2021). La partecipazione nel mercato di Airbnb da parte di professionisti del settore dell'ospitalità inevitabilmente modifica le dinamiche di equilibrio interno della piattaforma, inizialmente pensata per dare la possibilità a non professionisti di affittare temporaneamente immobili di proprietà.…”

Section: Airbnb Nelle Cittàunclassified

“…Gli host che possiedono una o due proprietà si comportano in modo diverso da quelli che ne possiedono una dozzina o più. Questo era vero prima della pandemia (Dogru et al 2020;Gil and Sequera 2020;Cocola-Gant et al 2021;Katsinas 2021) ed è stato confermato dalle performance del 2020.…”

Section: Airbnb Prima E Durante La Pandemia (2019-2020)unclassified

Airbnb e Covid-19. Il ruolo degli attori professionali nel mercato turistico delle capitali del Sud Europa

Iacovone

2022

Geography Notebooks

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In the last years the tourist hospitality sector faced substantial changes due to the digital revolution carried on by platforms such as Airbnb. In almost a decade Airbnb consolidated its position as a principal channel in the short-term rental market. Over this period, it faced a series of internal changes regarding the composition of the hosts. Property managers, real estate firms, and tourism hospitality professionals used Airbnb as a preferential channel to their business establishing a professional offer within the platform. This dynamic highly disadvantaged smallest and non-professional hosts. This article analyzes the category of professional host highlighting how, even during the first year of the Covid-19 pandemic (2020), they had maintained their leading position experiencing the best performances.

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Neoliberalism, Collaborative Economy, and Short-Term Rentals Regulation in Andalusia, Spain

Parra

Barrero-Rescalvo

2023

The Urban Book Series

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Corporate hosts: The rise of professional management in the short-term rental industry

Cited by 41 publications

References 38 publications

The Political Economy of Housing Investment in the Short‐Term Rental Market: Insights from Urban Portugal

The Political Economy of Housing Investment in the Short‐Term Rental Market: Insights from Urban Portugal

Airbnb e Covid-19. Il ruolo degli attori professionali nel mercato turistico delle capitali del Sud Europa

Neoliberalism, Collaborative Economy, and Short-Term Rentals Regulation in Andalusia, Spain

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