Jun 6, 2023 - Real Estate

Rentyl Resorts wants to professionalize home sharing

A bright, lime green, 3-story building with white balconies and blue shutters and palm trees in front.

Rentyl Resorts operates cottages at Margaritaville Orlando. Photo: Courtesy of Rentyl Resorts

Rentyl Resorts is the next company aiming to disrupt the home-sharing industry — this time by taking over whole communities to market and operate as home share units.

Why it matters: The company says it offers the same quality and consistency of a hotel chain: room service, turndown service, and access to amenities that could include pools and fitness centers.

  • Rentyl has offices in Orlando and South Florida, and manages one property in Miami so far: the DoubleTree Grand Hotel Biscayne Bay.

What they're saying: "You come to one of our properties, we'll have 24/7 staff, professionally trained," CEO Nick Falcone tells Axios. "You're not renting from hosts and feel like you're staying in someone else's house."

  • The company works with developers building whole communities, who might keep the entire property and enlist Rentyl to operate it, or sell off individual units that the company will still manage.

By the numbers: Rentyl manages roughly 11,000 units at properties including Margaritaville Resort Orlando, The Bear’s Den Resort Orlando and Atlantis Paradise Island.

Of note: Nick's father, Art Falcone, started his career as a McDonald's franchisee before becoming one of South Florida's biggest developers. He's currently developing the Miami Worldcenter megaproject downtown.

  • Nick and his two brothers forged a similar path: They were founding franchisees of BurgerFi and Anthony's Coal Fired Pizza & Wings.
  • They got the idea for Rentyl Resorts after seeing most buyers at one of their father's communities buying up vacation homes, not to use themselves but as investment properties to rent out.

What we're watching: Rentyl Resorts is already operating worldwide and has goals to expand both locally and abroad.

  • Miami has the most Airbnb listings of any large city in the U.S. — 6,962 total, or 1,478 per 100,000 residents, according to a May report.
  • And 2023 is shaping up to be a record year for short-term rentals nationally, per industry intelligence firm AirDNA.

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