Cities around the world have been looking for a solution to illegal vacation rentals for years, and we want to give it to them. We are creating a new vacation rental product that the home owners, guests, and cities love equally. It is a win-win-win.
Salt Lake City, Utah (PRWEB) October 11, 2016
Bevy™ works with cities and developers internationally to build vacations homes specifically designed, legally zoned, branded, and franchised for group travelers. These vacation rental home communities can be individually sold to buyers and aim to mend fragmented pieces of the vacation rental industry across the world. (http://buildbevy.com).
Tristan Webb, 13-year vacation rental veteran and co-founder of Bevy™, stated, “Cities around the world have been looking for a solution to illegal vacation rentals for years, and we want to give it to them. We are creating a new vacation rental product that the home owners, guests, and cities love equally. It is a win-win-win.”
As cities struggle to repair the turmoil created by growing interest in unregulated and illegal vacation rentals, Bevy™ seeks to help solve these problems not only for the city, but for home builders, vacation rental owners, and group vacation rental guests.
Investors are downgrading investment in hotels, and have no clear path to enter the vacation rental market. Bloomberg stated, “Bank of America analysts just checked out of the hotel industry [. . .] due to threats like Airbnb”. With Bevy™, institutional investors can purchase a legal and zoned vacation rental product.
About Paradise Village at Zion, Bevy’s first consultation project, the city manager of Santa Clara, Utah, stated, “We believe that the ongoing economic benefit for the city will be roughly $345,000 per year. The cost to develop and build the homes for the entire project is expected to be just over $38 million; this is money that is going directly into the city and Washington County."
Less than 0.19% of vacation homes worldwide fit the hotel-like experience Bevy™ aims to offer. However, according to Homeaway, leisure travel groups of 7+ people make up 17% of the $100B vacation rental industry and smaller hotel corporate groups make $29B in lodging revenue alone.
Because of the high and growing demand of group travel and the low supply of larger vacation rentals worldwide, Bevy™ has created a new product appealing to business, leisure, and family groups that keeps the vacancy low, and in turn raises profits for home owners.