US: In our latest STRz spotlight, we speak to Shahar Goldboim, co-founder and CEO of AI-driven platform Boom, as he delves into the benefits of artificial intelligence for the user experience, while addressing sustainability and community impact, and what the short-term rental industry will look like in 18 months’ time.
- Can you share with us the story behind starting Boom and what initially sparked your interest in the short-term rental market?
“It was in 2016, while working as a real estate broker and running a startup, that a friend suggested I turn a property into an Airbnb. This sparked a pivotal shift in my career.
“Initially hesitant due to the setup efforts, I first trialled the property on a platform that tests how interested people would be in it. This was called ‘virtual property staging’ but the positive response was immediate and overwhelming. This test, which took minimal effort, validated the potential in the vacation rental market, and I decided to dive in. Leveraging my real estate expertise and my wife’s design skills, we ventured into this new industry.
“Our journey into vacation rentals shows how a blend of innovation, experimentation and a lean approach can open up new opportunities. We first created a management company, DesignedVR, and out of that was born Boom because we knew we could improve on the technology out there in the market by harnessing the new capabilities emerging with AI.”
- What sets Boom’s software apart from other solutions currently available for managing short-term rentals, and how does it specifically cater to the needs of property owners and managers?
“Boom isn’t a PMS. It’s an AI-driven tool that sits over the top of a property manager’s existing platform, acting like a virtual workforce that takes a lot of the day-to-day decisions off the property manager. It’s like a co-pilot that eases the operational burden, and it brings everything the PMS is doing together and improves it.
“Property management becomes more efficient because it helps managers delegate tasks to a computer rather than a colleague. It also throws up lots of data that prompts better decision making.
“Our aim is to ensure this blend of advanced technology and performance-focused metrics gives property managers a strategic advantage, making Boom an indispensable tool. We can see how AI is going to be a game-changer for the short-term rental industry — it’s about so much more than just clever guest messaging. It’s about doing, not just talking.”
- How does Boom incorporate AI into its platform, and what are some of the most significant benefits users experience from these AI-driven features?
“In short, Boom uses AI to automate routine tasks but it’s only when we actually sit down with a property manager and show it to them that they really start to ‘get it’. Automation in computing has obviously been around for a long time but when a manager realises the platform is powerful enough to actually begin to do their job for them, their eyes light up.
“They can’t quite believe that they can treat the AI like an employee, and suddenly the true impact of AI on the sector hits them. Property managers don’t have to carry out all the mundane tasks any more, they can be much more high level, orchestrating what is happening but doing none of the heavy lifting day-to-day. This frees them up to grow their business instead of just running it.”
- With the short-term rental market constantly evolving, how does Boom stay ahead of market trends, and what role does customer feedback play in shaping your product updates?
“We’re very lucky to have a short-term rental management company, DesignedVR, operating side-by-side with our technology because it provides our developers with constant feedback for improvements. We make the most of this situation by continuously refining Boom’s features by testing them in the real world on DesignedVR’s portfolio. This direct feedback loop means we can ‘fail fast’ and this, combined with what our customers tell us, shapes our product updates and the speed at which we can deliver them.
“We’ve made a conscious effort to hard bake customer feedback into our development process and that ensures Boom evolved as the needs of the market change.”
- Sustainability and community impact are increasingly important in the travel industry. How does Boom address these concerns, and what steps are you taking to promote responsible short-term renting?
“We’re definitely trying to do our bit here. In high electricity usage areas, like South Florida, it’s not uncommon for bills to reach $450 a month. We encourage owners to install solar panels on properties, which not only yields substantial savings but lowers carbon emissions. Government incentives further enhance the appeal of these sustainable investments.
“We also champion the installation of electric vehicle [EV] charging stations, which is both green and broadens the addressable market of a rental. Eco-friendly consumables are also something we advocate.
“Again it’s the right way forward, with the added benefit of making properties more appealing to guests.”
- Reflecting on your journey with Boom, what have been some of the most challenging moments, and conversely, what achievements are you most proud of?
“A critical moment came last year when I made the decision to split DesignedVR, a tech-enabled company, into two distinct entities. One would focus on management and the other on technology. Boom was the result and it was a major milestone because we had finally created a pure technology company. This separation required considerable thought and energy. There was a lot of pressure to ensure the transition was executed effectively and I began to step back from the day-to-day activities of DesignedVR.
“What I cherish most about this decision was the opportunity to work on developing Boom alongside my two brothers, Alon and Moran. It’s a family affair and this extended beyond just us to many other family members and friends who have joined us along the way.
“Together, we’ve created a strong team, bonded like a family with a shared vision and values. This sense of unity and shared purpose is what I am most proud of. It’s not just about building a successful business, it’s about doing it with people who share our passion and commitment, making our achievements all the more meaningful.”
- Where do you see the role of AI heading in the context of short-term rentals, and what future developments can we expect to see from Boom?
“Boom’s vision is to harness AI to fully manage tasks like bookkeeping, dispatching, sales, marketing and customer support, shifting the day-to-day operational load away from humans to technology. This will allow our customers to concentrate on the essential, on-the-ground activities that require the human touch.
“Our plan for the future includes bringing AI to every area of property management, creating extreme personalisation and a seamless guest experience. This will include every kind of communication method, including voice, for both guests and property managers. We want to lead this technological revolution, not just be a part of it.”
- With the rate of transformation we are seeing in AI, what do you expect the short-term rental industry will look like in 18 months’ time?
“AI will soon forever change the short-term rental industry. It’s going to look totally different. There was a lot of fanfare last year when AI started taking over guest messaging but I don’t think many people really appreciate what’s about to happen.
The role of the property manager is about to change entirely. We’ve only scratched the surface with guest messaging, the real revolution is coming in task management. The change for the guests is that they’re going to feel like they’re the star in their own TV show. Customer service standards are going to go through the roof because delivering an amazing experience is about to become a lot less labour-intensive. Business owners stand to benefit in turn from higher profitability, driven by reduced operational costs, including lower payroll expenses due to AI capabilities, which will create a virtuous circle of guest satisfaction and financial success.
“It’s a really exciting time.”
