The I-PRAC team recently exhibited at the inaugural Short Stay Show, a unique show dedicated to the fastest-growing trend in the hospitality and tourism sectors: the short-term holiday rental industry. As sponsors, we were able to speak with delegates and take part in keynote presentations and discussions, gaining and sharing invaluable insight into this growing industry. It also provided our team with the perfect opportunity to showcase our innovative solution to the ever-growing problem of holiday rental fraud.
The Short Stay Show 2019
The first of its kind, the Short Stay Show 2019 took place on Thursday 14 March at the ExCeL London. It is the only show available for owners, managers and investors to meet with innovators and discuss insights into the industry and its future. The show will take place annually to bring together the best and brightest in the industry, and plans are already in motion for 2020.
With over 1400 visitors, more than 50 exhibitors and 100+ speakers across one day, the show was a success for all involved, and hosted industry experts, housing companies, associations and government representatives from across housing and tourism all under one roof. Many businesses and brands were also in attendance, including title sponsors HomeAway, Booking.com and Airbnb, as well as representatives from organisations such as Rightmove and UCL.
Throughout the day, delegates had access to:
- Premium conferences for industry stakeholders and influencers wanting to hear from keynote speakers
- A marketplace with innovative rental products and services on display from across the sector
- Two seminar stages with hosts discussing the latest trends and areas for improvement
- A central networking area designed for delegates to converse with peers
Key Takeaways
There is a lot to assess when it comes to the future and preservation of the short-term holiday rental industry. Here are our key takeaways from the Short Stay Show 2019 based upon our discussions with delegates, keynote speakers and seminars:
Industry-Specific Solutions
Tourism is the third largest sector in the world, and short-term holiday rental solutions are providing holidaymakers and property owners alike with much more flexibility. More so now than ever, customers have a wealth of choice when it comes to short-term options through individuals and agencies, and property owners are able to maximise profits without restrictions surrounding length of stay.
But with holiday rental fraud on the increase since 2011 – and an average of over £6.7 million lost to holiday fraud in 2017 (an increase of 25% year on year) – it came as no surprise that one of the focus topics for the day was the verification of holiday property owners and their listings.
As a verification membership platform for legitimate property owners and rental agents within the short-term rental industry, I-PRAC made the perfect partner for the Short Stay Show 2019. Our Managing Director Emma Mills and the team provided invaluable insight to delegates throughout the day on our online verification application, and the future of verification in the industry. The team were also able to make valuable contacts and partnerships with individuals and organisations, and saw a substantial increase in applications for I-PRAC verification in the weeks following the event.
Emma Mills, Managing Director of I-PRAC, said:
“We are so pleased to have attended as exhibitors and sponsors of the Short Stay Show 2019, and to have had the opportunity to launch and share with delegates the new I-PRAC members online profile; supporting a stable future for the industry through regulation and verification. Throughout the day our team were met with exceptionally positive feedback when it came to our innovative solution, and we look forward to sharing further insights throughout the year and as sponsors of the Short Stay Show 2020.”
You can find out more about I-PRAC and our time at the Short Stay Show 2019 by watching the video below:
The Future of the Industry
The growth of the short-term rental industry is helping boost local and national economies, so it’s imperative that all individuals, agents and businesses become verified and I-PRAC approved in anticipation of new regulations. These new regulations are earmarked for 2022, and will see certain countries only allow verified members the ability to list their properties on booking platforms.
However, the pace of the online revolution means providers must not simply wait for regulations to be introduced, and should act fast when it comes to doing all they can to verify their listings. This was supported by Lord Bourne of the Ministry of Housing, who stated during his keynote speech that regulation is in the interest of both property owners and travellers across the world.
Global travel and hospitality influencer and CEO of AJL Consulting, Simon Lehmann, also shared valuable insights on the huge impact of technology on the industry, and how it has the potential to transform how the sector as a whole is managed and marketed in the future.
What’s Next?
For more information on becoming an I-PRAC verified member, or how best to identify verification, contact a member of our team. Alternatively, why not apply today using our simple application process?
To register your interest and stay up to date on all the latest news for the event in 2020, visit the official Short Stay Show website.
