There used to be two worlds: hotels and short-term rentals. Between them stood a clearly marked border. Each served its purpose, and guest preferences were easy to read.
Then the way we travel flipped. Planes stopped flying. Boats stopped sailing. The COVID-19 pandemic changed everything in hospitality and forced key players to face uncomfortable questions.
Hospitality was no longer about separating short-term stays from long-term service. Something new started to emerge from the chaos.
What even the most seasoned experts did not expect was the speed of change in guest preferences. Almost overnight, demand shifted from predictable patterns to something far less defined. Guests who once valued stability started looking for something new. At the same time, those who were satisfied with basic options began demanding higher quality and more luxury.
Both sides wanted more. Demand quickly outpaced supply. The challenge became clear. Hospitality had to reinvent itself, and it had to move fast.
This was not only about hotels. It was not only about short-term rentals. Both worlds needed to evolve and, against all expectations, move closer together. The real question became simple. How?
This week’s conversation focuses on how industry leaders moved beyond categories and focused on what matters. Better economics, a stronger guest experience, and scalable models.
STR Global Unlocked Podcast | Episode 31
EPISODE WITH CHRISTIAN GAISER, CEO AND CO-FOUNDER OF NUMA
It’s 2019. You have just launched your hospitality company. Hopes are high, and so are the risks. No one warns you about what is coming next.
For many, this would become the perfect setup for disaster. For others, it turns into a rare opportunity.
As this conversation highlights, when the tide rises, water reaches further into the shore. Rising tides lift all boats.
A company born right before the COVID-19 pandemic had no legacy. No past. It had the freedom to build itself around a new reality.
This does not mean the pandemic was easy. It brought real challenges. Yet once the world reopened, having no ties to the past became an advantage. It gave companies the chance to build for a different type of guest.
That is exactly what Christian Gaiser did as CEO and Co-Founder of Numa, one of Europe’s fastest-growing urban hospitality platforms. His background in digital platforms and scaling operations shaped a tech-driven, asset-light model designed for complex urban markets.
Simon Lehmann, CEO of AJL Atelier, sat down with Christian to explore how guest needs have shifted in recent years. As Millennials and Gen Z become more defined in what they expect, the line between a hotel and an apartment continues to blur.
Guests are moving away from categories. They focus on outcomes. They want their stay to meet specific needs, from location to amenities to overall experience. The challenge is clear. Few operators in the industry manage to deliver on all fronts.
So, what was Numa’s approach?
They built around a simple philosophy: “we do the room, you do the city.”
From there, a new model started to take shape.
In this conversation, we discuss:
How Numa identified and acted on three critical gaps in hospitality. Demand outpaced supply, assets remained fragmented, and technology across operations lagged behind.
How Numa moved away from categories and adopted a “third model” approach. This model combines short-term rentals, hotels, and serviced apartments into one system, driven by guest use cases rather than traditional labels.
Why capital efficiency and financial discipline turned into a competitive advantage after the collapse of overfunded STR models.
How Numa can serve both short and long-stay demand while keeping costs lower through density, standardized units, and lean operations.
Why building more than 100 internal tools became central to improving reviews, reducing costs, and scaling operations.
How labor shortages, including a projected 8 million workforce gap in Germany, are pushing operators to rethink staffing and automation.
Why AI is set to reshape both operations and demand, increasing travel activity and changing how supply is discovered and consumed.
Connect with Christian Gaiser to learn more about Numa.
"Hospitality is probably one of the most emotional industries and that's the beauty and, at the same time, the challenge for all of us."
Key STR Trends
INDUSTRY CHECK-IN
The World Cup was meant to celebrate global passion for sport. Instead, rising geopolitical tensions are creating uncertainty around it.
The travel industry is feeling the impact. Fuel prices continue to climb, and the effects spread quickly across the value chain. Higher airfares are only one part of the problem. International demand risks slowing down, while softer booking trends add more pressure.
Fuel costs remain unavoidable. Jet fuel prices have doubled, putting airlines and operators under strain. You can read more about this phenomenon here.
Source: Getty Images
Ongoing conflicts in the Middle East are likely to affect travel to the United States, which will host matches across 11 cities. This could further weaken inbound tourism, already down 5.5% compared to last year.
So, what do experts expect next? Julie Taylor addressed this question for Realtor.com, and some of the scenarios raise concern.
You can read the article here.
Weekly News
WORTH A READ
Stay current on the industry. Each edition covers key insights, major headlines, and the technology shaping travel and short-term rentals.
NYC in a legal battle with STR
New York City legal staff have sued a landlord over illegal STR operations. The city also takes aim at Airbnb.
Croatia is out to get short-term rentals
Croatia enforces stricter regulations on unregistered short-term rentals. The goal is to promote sustainable tourism. Is this the right move?
This niche hobby drives tourism to upper NY
An underrated hobby is driving demand for short-term rentals in upstate New York. Quiet towns are turning into busy, higher-priced destinations.
CLOSING THOUGHTS
The pandemic changed everything across the hospitality industry. Some saw the chaos as an opportunity.
Adversity brings opportunity. It also exposes imperfections that may have existed for years, often unnoticed by the industry.
Those who recognize these gaps and act on them are the ones who move forward. Even when the waves rise and conditions turn difficult, they find ways to adapt and grow.
This newsletter and podcast are brought to you thanks to AJL Atelier.
AJL Atelier is a globally recognized consultancy, specializing in the Short-Term Rental (STR) industry, known for our unique blend of trend forecasting, consumer insight, brand strategy, and innovation.
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