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Short-Term Rental Sector Could Be Headed for Its Own Dotcom Bubble Burst: HomeAway Co-Founder

Matthew Parsons
A vacation rental listed on Vrbo in Scottsdale, Arizona. Source: Vrbo

Photo Credit: A Vrbo property. In 2015, Expedia Group acquired HomeAway, and VRBO was one of HomeAway's leading brands. Expedia retired the HomeAway brand in favor of Vrbo. VRBO

Skift Take

It's a dire warning from one of the sector's most experienced founders and investors — but just don’t talk about trends until 2023, HomeAway's Carl Shepherd made a point to add.

The co-founder of HomeAway has likened the current spate of special purpose acquisition companies — or SPACs — to the build-up seen just before the dot com bubble burst in 2001. Since the pandemic, hundreds of so-called "blank check companies" have been formed and there’s appetite for travel companies, in particular in the short-term rental space. But “the SPAC game has gotten crowded,” Carl Shepherd said. Accor this week was also reported to be the latest company to dive into merger market. “A lot in the pipeline will probably pull back,” he added, speaking at the Skift Live Short-Term Rental and Outdoor Summit. "There’s hundred

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