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reAlpha

reAlpha

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reAlpha

from United States
85
Categories Others Colours Green

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ReAlpha plans to spend $1.5B to buy short-term rental homes Invigorated by Airbnb’s success, more investors are entering the short-term rental market. Ohio-based asset management company ReAlpha plans to spend as much as $1.5 billion to buy short-term rentals, Bloomberg News reported. The amount is enough to purchase about 5,000 homes, Giri Devanur, the company’s CEO, told the outlet. Over the past decade, a herd of entrepreneurs joined the short-term vacation rental sector. As the industry matures, large-scale investors are joining the pool, hoping to get their slice of the short-term rental pie. “The business model has been proven, and now the opportunity is to do this at scale,” Scott Shatford, CEO of AirDNA, which provides data and analytics to the industry, told Bloomberg News. “People can’t figure out how to deploy capital quickly enough.”