vacation

Venture

Alternative: Struggling to Choose Between Airbnb or a Traditional Hotel? Discover Overmoon’s Hybrid Vacation Rental Concept

Historically, vacation rental companies have managed homes for homeowners. Overmoon is a three-year-old vacation rental startup with a different model that essentially cuts out the middle man. But Fraiman doesn’t believe that so many proptech companies are failing because of high interest rates. “I think the inability to raise capital is the real reason and interest rates are a contributing factor,” he said. Plus, higher interest rates means fewer buyers out there, which means less competition.

Max Chen
January 11, 2024

Enterprise, Startups

Proptech Startup Collapses Due to Unfavorable Interest Rate Climate

Here, a fractional short-term vacation rental marketplace, has shut down after just over two years of operation. In a statement on its website, the company said its goal was to sell all of the properties that it holds within the next six months. According to the publication ShortTermRentalz, the marketplace gave investors a way to acquire partial ownership of vacation rentals. Just last week, TechCrunch broke the news that Frontdesk, a short-term rental provider, had laid off its entire staff and was on the verge of shutting down. Last November, we reported on Zeus Living reportedly shutting down after raising $150 million in debt and equity.