Scottish startup makes it easier to rent out holiday properties

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Spotted: Scottish startup TravelNest has developed an online platform that makes it easier for property owners to list and promote holiday rentals. TravelNest founder Doug Stephenson first created the software to help his parents manage their 40 rental properties. He found the hundreds of listing and advertising options confusing and knew there was a simpler solution.

TravelNest aims to change that by making it simple to promote rentals across dozens of sites. The site runs on its own software, which manages clients’ properties through a central, online platform. It gathers data from 30 booking sites – from travel agencies to big names like Booking.com and Airbnb.

The site also tailors the way holiday properties are listed to boost their rankings on individual sites. Then TravelNest gives customers a central platform from which to monitor vacancies and keep track of bookings.

The platform seems to be attractive to property owners and investors. It listed 2,000 properties just 18 months after it launched. And the startup has raised a total of £5.3 million in funding over two rounds, including funds from Pentech Ventures, Mangrove Capital Partners, Frontline Ventures and former Skyscanner Chief Operations Officer Mark Logan.

TravelNest is a free service for its clients. Its revenue will come from advertising on the site. While most of its clients are in the UK, TravelNest is planning to offer global services in the future.

Takeaway: The vacation rental property market is estimated to be worth $57 billion. But the market is highly fragmented with dozens of different options from online travel agents to home letting services like Airbnb. It is a hassle for holiday rental owners, and they miss out on sales. It is estimated that 56% of rentals in the UK struggle with vacancies. Startups like TravelNest want to streamline the property management business, mimicking the services Booking.com and Airbnb provide on the demand side. Springwise has spotted similar innovations seeking to improve property management such as a Portuguese startup HomeIt, which gives smart access to rental properties so owners can remotely let guests inside.

Website: www.travelnest.com
Contact: www.travelnest.com/contact-us

Source: New feed 1