There will be Airbnb and Sonder — and everyone else.
To hear Laurence Tosi of WestCap Group and investment partner Allen Mask of Colab Group tell it, the emerging dynamic in the short-term rental industry won’t be winner-take-all scenarios, but will see dominant players such as Airbnb and Sonder emerging in their respective sectors, and a fragmented group of weakened competitors filling in the rest of the leadership.
Speaking about Airbnb at the Skift Short-Term Rental and Outdoor Summit Wednesday, Tosi, founder and managing partner of Westcap Group, said that in 2019 it became clear that Airbnb was becoming a dominant marketplace, and that competitors were weakening, and their market share was becoming fragmented.
Likewise with Sonder, which plays in the quasi-hotel and short-term rental space and is slated to go public in a blank-check-company merger, it became clear that there was a “difference between the leader and everyone else,” Tosi said.
Both Airbnb and Sonder were breaking away from the pack, a development that accelerated during the pandemic, Tosi argued.
Skift Research senior analyst Seth Borko, interviewed Tosi and investment partner Allen Mask, managing partner at Colab, which is a WestCap affiliate, at the Skift online summit on the topic, “Where Do Short-Term Rentals Go From Here.”
WestCap is an investor in both Airbnb and Sonder, and both Tosi and Allen are Airbnb alums. Tosi was Airbnb chief financial officer, and Mask was head of global…