Automatic

📌 Hostaway, a vacation rental software provider, has landed a $365 million strategic growth investment led by General Atlantic with PSG Equity participating. The company, founded in 2015, boasts over 200 marketplace partners, clients in 90+ countries, and a remote workforce of 230+ employees across 44 countries. The investment will support international expansion, product development, and AI initiatives. Hostaway has tripled in growth since PSG Equity's backing in 2023 and plans to expand in markets like France, Spain, and Italy. The short-term rental sector is valued at $133 billion, with a 12% CAGR over the last decade. General Atlantic and PSG Equity will become significant minority shareholders post-deal, marking the largest transaction in Hostaway's market segment.

📈 Hostaway, a vacation rental software company, secured a $365 million investment led by General Atlantic with PSG Equity participation. Founded in 2015, it supports properties in over 90 countries and employs over 230 people across 44 countries. Hostaway is the first company to earn the highest partnership designations from Airbnb, VRBO, and Booking.com, and aims to grow further, especially in France, Spain, and Italy. The short-term rental market is valued at $133 billion and growing at a 12% CAGR, serving over 21 million properties globally.

☕ Starbucks CEO Brian Niccol announced doubling paid parental leave for U.S. employees working 20+ hours weekly, starting March – birth parents get 18 weeks, non-birth parents 12 weeks fully paid. The company offers competitive pay, 100% tuition coverage through the SCAP, healthcare, Bean Stock grants, and student loan management via Tuition.io. Starbucks fills 90% of retail leadership roles internally. Amidst a tight labor market, 75% of hospitality managers worry about consistent customer experience, and 70% fear staff burnout. Starbucks also removed milk alternative surcharges, reducing costs for nearly half of U.S. customers by over 10%. Niccol joined Starbucks in September, prioritizing technology investments and app improvements.

📆 During the holiday travel season, hotels leverage calendar marketing tools to enhance guest experiences and boost event engagement. Innovative strategies include subscription calendars, seamless event reminders, personalized event experiences, and streamlined RSVPs. These practices aim to keep hotel events top of mind amidst the busy season. Michael Nilsson, CEO of AddEvent, highlights the importance of these tools for the 250K+ customers served by his company, including Fortune 500 clients.

🏖 Hostaway's 2024 STR Market Report indicates a shift in property managers' concerns from technology to growth and scaling complexities, now ranked as top challenge. Climate-related concerns surged, with an 8% focus among managers, reflecting 24 times more mentions than the previous year. Economic volatility dropped out of the top eight concerns. AI adoption and dynamic pricing use grew by 45%. Over 300 property managers across 51 countries participated in the survey.