Luxury Home Rentals Are All the Rage in the Sharing Economy

A blog about business and economics.
May 30 2014 4:26 PM

Luxury Home Rentals Are All the Rage in the Sharing Economy

5003344615_1c3f889af8_o
Where the sharing economy is headed.

Photo by Olga Khomitsevich via Flickr.

Airbnb might be a staple for travelers on a budget, but sharing-economy hotel alternatives are not just for penny-pinchers. Bloomberg Businessweek reports that the new hot spot in the shared-lodging market is luxury condos and plush vacation homes. "A host of American ventures want to be the Airbnb of the one percent," as the magazine puts it.

Scrolling through the luxury section of HomeAway, a vacation rental site, reveals a seven-bedroom house in Cabo San Lucas ("spectacular ocean view home built in 2008 with free chef service," $2,200-$3,500 per night), a three-bedroom villa in Akrotiri ("top villa selected by the Sunday Times," $3,266-$6,124 a week), and a penthouse in the Ritz-Carlton of Lake Tahoe ("offering unparalleled luxury, service and convenience," $1,856-$4,285 a night). To reassure users worried about fraud, the site notes that all properties have been curated by luxury travel company Andrew Harper.

Advertisement

Another company, 3rdHome, helps wealthy homeowners to share more exclusively with an Airbnb-meets-White's-gentleman-club model. Pay a $2,500 initiation fee and you can stay at the residences of others in the club for between $395 and $995 a week, using credits you gain from making your own home (or second home, third home, or, who knows, fourth home) available to them during the year. Properties on this site include a vineyard home in Monte Estàcio, Portugal, and a lake house in New Zealand. The rental homes have an average appraisal of $2.4 million, according to Businessweek.

Expensive as some of these properties are, they still can be cheaper than staying in an upscale hotel or resort. Depending on where you are, a one-bedroom in the Ritz-Carlton can run you several hundred dollars to more than $1,000 per night. E. Wade Shealy, the founder and CEO of 3rdHome, tells Businessweek that over the next decade he expects to see lots of home-sharing clubs like his. The rich like a bargain too.

Alison Griswold is a Slate staff writer covering business and economics.

 

TODAY IN SLATE

Politics

Blacks Don’t Have a Corporal Punishment Problem

Americans do. But when blacks exhibit the same behaviors as others, it becomes part of a greater black pathology. 

I Bought the Huge iPhone. I’m Already Thinking of Returning It.

Scotland Is Just the Beginning. Expect More Political Earthquakes in Europe.

Lifetime Didn’t Think the Steubenville Rape Case Was Dramatic Enough

So they added a little self-immolation.

Two Damn Good, Very Different Movies About Soldiers Returning From War

Medical Examiner

The Most Terrifying Thing About Ebola 

The disease threatens humanity by preying on humanity.

Students Aren’t Going to College Football Games as Much Anymore, and Schools Are Getting Worried

The Good Wife Is Cynical, Thrilling, and Grown-Up. It’s Also TV’s Best Drama.

  News & Politics
Weigel
Sept. 19 2014 9:15 PM Chris Christie, Better Than Ever
  Business
Business Insider
Sept. 20 2014 6:30 AM The Man Making Bill Gates Richer
  Life
Quora
Sept. 20 2014 7:27 AM How Do Plants Grow Aboard the International Space Station?
  Double X
The XX Factor
Sept. 19 2014 4:58 PM Steubenville Gets the Lifetime Treatment (And a Cheerleader Erupts Into Flames)
  Slate Plus
Slate Picks
Sept. 19 2014 12:00 PM What Happened at Slate This Week? The Slatest editor tells us to read well-informed skepticism, media criticism, and more.
  Arts
Brow Beat
Sept. 19 2014 4:48 PM You Should Be Listening to Sbtrkt
  Technology
Future Tense
Sept. 19 2014 6:31 PM The One Big Problem With the Enormous New iPhone
  Health & Science
Bad Astronomy
Sept. 20 2014 7:00 AM The Shaggy Sun
  Sports
Sports Nut
Sept. 18 2014 11:42 AM Grandmaster Clash One of the most amazing feats in chess history just happened, and no one noticed.