Expedia Group announced today the acquisitions of Pillow, a software solution that helps building owners and managers empower their long-term residents to rent their residences, and ApartmentJet, a software solution enabling the rental of guest suites in multifamily communities.
Acquiring Pillow and ApartmentJet will help unlock urban growth opportunities that, over time, will contribute to HomeAway's ability to add an even broader selection of accommodations to its marketplace and marketplaces across Expedia Group brands, ensuring travellers always find the perfect place to stay.
"Demand for short-term rentals in U.S. urban destinations has been growing impressively over the past several years. In order to be able to deliver our customers what they are asking for while at the same time promoting responsible renting, Expedia Group is committed to delivering solutions that give urban building owners, managers and communities control and transparency over short-term rentals," said Mark Okerstrom, CEO, Expedia Group.
Pillow and ApartmentJet are both innovative companies that solve different challenges faced by multifamily communities in urban markets. Pillow makes it easy for multifamily community owners to give residents the ability to list their apartment units as short-term rentals without violating their lease restrictions.
Additionally, ApartmentJet enables owners to help visitors enjoy guest suites at their properties. Both solutions enable owners to set limitations on short-term rentals in their buildings, such as limiting the number of total rental nights per year for units or for an entire building. Both make it easy for multifamily owners to know exactly who is staying in their buildings and when.