Upmarket curated rentals provider Stayo is hoping to pounce and sign up as many London landlords as possible coming off Airbnb. There is significant anecdotal evidence that Airbnb is losing inventory in the British capital and according to industry export and Stayo investor Robert Paterson, the company is “aiming to take advantage of Airbnb’s difficulties”.
Having been forced to relinquish a lot of its inventory during the lockdown period due to financial pressures in the corporate rentals space, the company recently rebranded from London Central Stay to Stayo. The business model is similar to that of Sonder and HelloLanding in the US, and According to MD Oliviero Ursino it is: “like Airbnb in many ways but obviously we only source properties from larger, institutional landlords, rather than leasing properties from lots of single ones.”
The company is looking to gain inventory quickly to perhaps make hay before Airbnb comes back into the market strongly with a lot of capital raised from its forthcoming IPO.
“We’re planning to build market share in this sector really quickly and we’re looking for larger blocks of 20 to 60 apartments"
Stayo will be competing for landlords with the likes of Spotahome which is looking to move away from student stays towards corporate upmarket short term rentals to recoup some of the losses seen over the lockdown period.