RXR will be responsible for the execution and management of the locations, while the Airbnb platform will be used to market and book rooms.
Improved in-room technology was a leading priority for modern guests and in exchange for it, they are willing to give up other amenities such as business center, fitness center and spa.
Rentals United claims to hold the record for onboarding the most properties onto Airbnb in 2018.
The startup said it had separately secured more than $300 million from regional partners to acquire real estate and fund its conversion costs for ongoing projects.
OYO Near You will begin in Delhi and the surrounding region and then be launched in eight more Indian cities.
The opening of new high-end chain hotels has accelerated in mainland China’s major markets since 2007.
The average cancelation rate in 2014 was 32.9% and increased to 39.6% in 2018. It reached a high of 41.3% in 2017.
For the seventh consecutive year, urban hotels (16.8%) achieved greater growth in spa department profits compared to resort properties (9.8%).
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