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New startups are developing new vacation home sites to target Millennials. Because timeshare houses serve as “second homes,” they didn’t experience the same declines as hotels and rental properties during the spring. To take advantage of the current market, startups like Koala want to “bridge the gap between short-term rentals in desirable destinations”—a “hot commodity” thanks to Airbnb. In particular, they’re targeting Millennials by reinventing the timeshare model for a “tech-obsessed generation raised in a sharing economy.” But they aren’t the only ones: D. Alexander, Pacaso, and RV companies like Texino, and travel clubs like Inspirato are vying for Millennials’ attention. (WSJ) |
