Real Estate Technology
PR Newswire | January 10, 2024
AirDNA, a leading short-term rental (STR) data provider, announced today the acquisition of vacation rental software and channel management system Uplisting. This acquisition marks a pivotal leap in AirDNA's mission to provide a comprehensive, one-stop solution for those investing in and operating short-term rental properties.
Demi Horvat, CEO of AirDNA, shares the vision behind the acquisition: "Merging Uplisting's first-class property management tools with our unparalleled market insights will create holistic, tailored solutions for all STR stakeholders, from aspiring hosts to large professional managers. This integration equips users with robust tools for every step on their journey, from research and investment to set-up and ongoing optimization of their properties."
Uplisting, an Airbnb Preferred Plus software partner, is a powerhouse for effectively managing and synchronizing STR listings on key platforms like Airbnb, Vrbo, and Booking.com. Its automation of critical tasks like real-time booking updates and guest communication has made it indispensable in optimizing the operations of vacation rental hosts and property managers globally. In 2023 alone, Uplisting processed an estimated $400 million in bookings, empowering users with reliable technology tools that catalyze growth.
Vincent Breslin, Founder of Uplisting, commented: "Joining forces with AirDNA opens up a realm of possibilities for the vacation rental market. With our combined wealth of expertise, we are poised to redefine industry standards, driving innovation and delivering enhanced value to all our clients."
In another decisive move to strengthen its commitment to STR hosts, AirDNA is introducing a new Dynamic Pricing feature that automatically syncs AirDNA's Smart Rates™ to Airbnb. This much-requested functionality empowers users to maximize booking revenues, drawing on extensive data from millions of listings on Airbnb and Vrbo to provide effective pricing recommendations.
"Dynamic Pricing makes it easier for busy STR hosts to set their rates by automatically analyzing market and competitor trends. This ensures the best prices are delivered in real-time to their Airbnb listings, eliminating guesswork and manual adjustments. With our focus on building easy-to-use tools for hosts and Uplisting's comprehensive suite for bookings, operations, guest communication, and beyond, we're bringing professional tools within reach of everyone," said Horvat.
Following AirDNA's acquisition of Arrivalist in July 2023, these strategic milestones showcase AirDNA's dynamic expansion under the umbrella of predictis, a family of software-enabled data businesses, and a portfolio company of Alpine Investors. "With this second acquisition in just six months, AirDNA is poised for continued growth and innovation, and with more developments in the pipeline, it is well positioned to expand its leadership position at the forefront of the short-term rental industry," remarked Jean-Marc Levy, CEO of predictis.
FOCUS Capital Partners Ireland served as the financial advisor to Uplisting.
About AirDNA
AirDNA is a global authority in short-term rental data, offering comprehensive insights and analytics to empower businesses in the short-term rental industry. AirDNA helps vacation rental hosts, managers, and investors make smarter decisions in any market or economic climate. For every short-term rental question, AirDNA has the answer.
About Uplisting
Uplisting is an all-in-one vacation rental and channel management software that allows short-term rental property managers and owners to manage bookings, message guests, and automate their daily tasks across multiple listing sites, including Airbnb, Vrbo, and Booking.com. Designed to fuel growth, it offers flexible, powerful, and reliable technology tools that revolutionize the way owners operate. As a testament to its excellence, Uplisting is recognized as a top 10 Airbnb software partner and distinguishes itself in the property management software sector with an impressive 4.8/5 score on G2.
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Real Estate Advice
PR Newswire | October 25, 2023
Zillow is launching a big update to the look and feel of for-sale property listings on its website, improving home shoppers' experience with a more intuitive and simplified layout.
The enhanced design of for-sale property listings on Zillow.com offers a wider, single-scroll format, making it easier for home shoppers to find key information, such as square footage, the Zestimate feature, lot size and home type. The new layout also introduces a media section at the top of the page that better showcases photos and 3D tours. By clicking on a photo, the media section expands, providing a full-page, magazine-style layout for seamless navigation through the rest of the home's photography.
"The new design delivers a fun and efficient way to browse homes on the Zillow website, making it easier for home shoppers to navigate and process information," said Jenny Arden, chief design officer at Zillow. "We introduced a wider layout for images, larger fonts for the most important facts and a clearer articulation of what makes the home special to help our users quickly understand if the home is right for them."
Zillow's app updates: Navigate with ease and simplify financing with the Home Loans tab
In addition to the redesign on the Zillow website, for-sale property listings on the Zillow app (iOS) are also receiving an update. This new look minimizes excessive scrolling by allowing users to more easily find the information that matters the most to them, whether that's home facts and features, a cost calculator or the Zestimate history.
When viewing a for-sale listing on the app, users will see a new look that presents the home details categorized into sections such as "What's Special,"' "Market Value," "Monthly Cost" and "Neighborhood." Users can click into particular sections of interest to find more details. This new look will be available before the end of the year on the Zillow iOS app.
Zillow is also introducing a new "Home Loans" tab on the Zillow app to help shoppers become buyers. Users can now easily figure out their budget, connect with a lender, get prequalified with Zillow Home Loans℠, and track their loan status — all in one place.
"Financing is a critical part of the home-buying process, and 60% of buyers say setting their budget is their first step when buying a home. With this update, we're helping the millions of people browsing the Zillow app better understand what they can afford within their budget and see a clear path toward getting the mortgage they need," said Matt Daimler, senior vice president of product at Zillow. "We're already seeing an impact: Customers are saying it's easier than ever to access and use our financing tools and get prequalified with Zillow Home Loans."
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Real Estate Investment
PR Newswire | January 04, 2024
Pennington Partners & Co., a multi-family investment office that specializes in working with entrepreneurs, CEOs / founders, and their families, has announced the launch of Pennington Real Estate Partners (PREP). The new vertical will make direct investments in residential and commercial real estate across the United States, providing new and existing Pennington clients with proprietary real estate investment expertise.
The new offering will focus on tax-advantaged investing including Opportunity Zones, structured equity, and senior secured lending given emerging opportunities in the existing marketplace. The launch represents an expansion of the Pennington team with the addition of Taylor Coe and Alex Rongione. Both come from distinguished careers in institutional real estate investment management, most recently at Walker & Dunlop Investment Partners, and will join the firm as Managing Directors and members of the PREP Investment Committee. As leaders of Pennington Real Estate Partners, Coe and Rongione will each be responsible for designing investment strategies, sourcing opportunities, executing business plans, and realizing investments. Additional information and bios can be found below.
"Pennington Real Estate Partners opens the door to many new opportunities for our clients," noted Brian Gaister, co-founder and CEO of Pennington Partners. "We have expanded our in-house real estate investment expertise that will allow us to capitalize on investment opportunities throughout the United States. We are incredibly honored to have Taylor and Alex join us to lead this new endeavor. Both bring significant experience that will be essential in uncovering and navigating new investments."
The launch of Pennington Real Estate Partners comes on the heels of notable growth and expansion for Pennington Partners. The firm closes out the year with more than 100% growth in assets under management, the launch of a new offering in private equity, and has been recognized in numerous industry accolades. "We're thrilled to be joining forces with a top-tier firm like Pennington, where we can add commercial real estate and associated structured finance to the array of opportunities available to our advisory families," added Coe and Rongione.
About Taylor Coe and Alex Rongione
Taylor Coe joins Pennington Real Estate Partners as a Managing Director and member of the PREP Investment Committee. Prior to joining Pennington, Taylor was on the equity investment team at Walker & Dunlop Investment Partners ("WDIP"), a middle-market real estate investment platform with over $6.1 billion of assets under management as of his time of departure. At WDIP, Taylor was responsible for closing investments with a total capitalization in excess of $1.3 billion. Taylor is also the founder of Sunshine Peak Partners, a boutique investment management firm, and is a graduate of the University of Colorado.
Alex Rongione joins Pennington Real Estate Partners as a Managing Director and member of the PREP Investment Committee. Prior to joining Pennington, Alex was also on the equity investment team at Walker & Dunlop. He contributed to all aspects of the investment process including but not limited to capital raising, strategy, origination, and execution. At WDIP Alex was responsible for closing investments with a total capitalization in excess of $1.7 billion. Alex is a CFA charter holder, a NAIOP Developing Leader, and a graduate of the University of Pittsburgh.
About Pennington Partners & Co.
Originally founded to serve the needs of the two founding families who have built and sold companies in various industries, Pennington Partners & Co.'s mission is to elevate the lives of highly successful entrepreneurial founders and their families. We provide a breadth of investment, wealth planning, and personal financial administration solutions that were created by and for founders, CEOs, wealth creators, and multi-generational families. We partner with successful families and their advisors by providing objective advice, strategy, sophisticated investment solutions, and family office services to generate meaningfully higher efficiency while maintaining the intimacy of a single-family office. In short, our vision is to transform the landscape of financial advice for families of complex wealth, in order to deliver better outcomes.
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