HOTREC published a new report on Short-Term Rentals (STRs), looking back at how the regulatory debate emerged and evolved and providing a vision of how to address this complex phenomenon.
HOTREC first addressed Short-Term Rentals in 2014, in a position paper on what was known at the time as the ‘emerging shadow economy’. Eight years later, the tourism and hospitality industry is reaching a critical moment for developing the appropriate regulatory framework for STR services.
Back then, we identified several risks related to the exponential growth of STRs: unfair competition, consumer exposure to safety hazards, unreported tax income, and, above all, the increasing pressure on local residents’ access to affordable housing. Today, these risks are more relevant than ever. This is why establishing a level playing field across tourism accommodation services must be a priority, as the only way to protect and benefit consumers, residents, local communities – and the EU tourism ecosystem in general.
“This is an encouraging time for European tourism and hospitality to welcome an EU Regulation that could provide common solutions to the challenges posed by Short-Term Rental services. Updating this set of rules in line with the needs of stakeholders, destinations, and residents is the first step to securing a fair, transparent, competitive and sustainable environment.” Stated Ms Marie Audren, Director General of HOTREC.
“Our report provides clear recommendations on how an upcoming EU Regulation could set effective rules and measures to support the establishment of a level playing in the industry.” Added Mr Ramón Estalella, Chair of the HOTREC Short-Term Rentals working group. “One thing is for sure: when it comes to STRs, a level playing field can only be achieved by awarding regulated accommodation more flexibility and lesser regulatory burden.”
HOTREC’s report on Short-Term Rentals is available here.