2023 Wrapped: The STRz stories that defined a year
Worldwide: As we approach the end of 2023, we revisit the 20 stories that defined a year for short-term rentals, as well as our favourite video, podcast and webinar from the last 12 months.
A new era for Lyric: What does the future hold post-acquisition?
US: STRz editor Paul Stevens speaks to Black Swan’s Zachary Tombley and Daniel Sodroski, as well as Lyric founder Andrew Kitchell, about the reasons behind Black Swan’s acquisition of Lyric, what it means for the wider hospitality landscape, and their vision for the new iteration of the company.
Lyric to relaunch under new ownership after Black Swan purchase
US: Apartment-style accommodation provider Lyric is to be revived under new ownership after being acquired by Florida-based investment advisory firm Black Swan.
Wheelhouse spins out of Lyric and raises $16m in funding
US: Revenue management and financial intelligence software, Wheelhouse, has announced that it has spun out of parent company Lyric and raised $16 million in funding.
Domio plans “financial re-engineering” across its business
US: New York-based apartment-hotel hospitality brand Domio has denied that it is planning to shutter permanently and sell off its remaining assets, as two investors in the company and documents viewed by The Information alleged. Instead, the company confirmed to ShortTermRentalz in a statement that it was “in the midst of a planned financial re-engineering across […]
Lyric pivots from leasing as Mint House takes over last location
US: Apartment-style accommodation provider Lyric is pivoting away from leasing buildings after it was announced that its sole remaining location at 70 Pine Street in New York City would be taken over by New York-based startup Mint House this month. The opening in downtown Manhattan within New York City’s Financial District is the latest stage […]
Lyric on the brink as co-founder Fraiman departs
US: San Francisco-based startup Lyric has closed all but one of its locations offering furnished short-term rental units since the start of the Covid-19 crisis, and its co-founder, Joe Fraiman, has now confirmed that he has departed for personal reasons. Lyric, which has raised around $180 million to date, including a $160 million Series B […]
Zeus Living joins growing list of companies to lay off staff
US: Furnished apartment provider Zeus Living has joined the growing list of companies in the real estate and travel sectors to lay off a significant portion of its staff. The firm, which provides furnished spaces for business travellers primarily, is laying off around 80 people from its workforce, which represents roughly 30 per cent of […]
Sonder cuts workforce by one third
US: San Francisco-based hospitality startup Sonder has announced it has laid off 22 per cent of its workforce and furloughed an additional 11 per cent of its staff as the reality of the coronavirus impact on the travel industry bites hard. According to The Information, those made redundant or furloughed accounts for up to 400 […]
Lyric to lay off 20 per cent of staff
US: The Airbnb-backed short-term rental brand Lyric has laid off around 20 per cent of its staff. The company, which partners with multifamily landlords to offer apartments to business travellers, is laying off a least 25 people as part of a restructuring plan. Lyric currently operates nearly 600 units in around 14 cities worldwide. It […]