Speaker, "Deal or No Deal: Multifamily Housing and Short-Term Rental Platforms and Regulations," ULI
Short-term rental housing platforms like Airbnb are disrupting both the multifamily and hospitality sectors. Since the launch of Airbnb in 2008, more than 5 million "hosts" have joined, helping the company rake in a jaw-dropping $2.7B to date. While many hosts are mom-and-pop operations, large-scale operators and multifamily buildings are increasingly joining the game and leveraging this multi-billion dollar industry. In fact, the National Multifamily Housing Council (NMHC) estimates that about 65% of recent Airbnb bookings were in multifamily buildings - places like apartments, condos and even in-the-works hotels. This session will focus on the impact of short-term rental housing trends on the multifamily sector from the angle of issues, priorities, and factors that affect multifamily investors, developers, and owners, in particular. We will examine recent trends in platforms, development and regulation of short-term rental housing, examining Washington, D.C. as a microcosm, then broadening the conversation to issues of national significance.