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Briefs: LA finalizes homeshare rules | JLL’s deal data

LA finally regulates homesharing. The Los Angeles City Council has approved a measure that effective in July allows city residents to rent out rooms and homes for short stays via websites like Airbnb only in their “primary residence,” not a second home or investment property. Hosts, who can offer their homes for short stays of up to 120 days annually, must register with the city, pay lodging taxes, keep records for city inspection, and make sure they have working smoke detectors, fire extinguishers and information on emergency exits, among other requirements. Hosting platforms cannot process any booking from a host who has not registered with the city, or who has exceeded the annual limit on how many days they can rent out their home. If the platforms do so, they can be hit with fines of $1,000 a day.

Read LA Times report

Ultra-luxe for Taipei. Rosewood Hotels & Resorts has been appointed by Fubon Hospitality Management to manage Rosewood Taipei, set to open in 2024. The new hotel with 191 rooms and 27 suites will be located in the cultural and financial hub of the Xinyi District.

PE groups doing most deals. As of YTD 2018, hotel transaction volume in the United States reached US$29.7 billion, more than a 25% year-over-year increase, with private equity groups representing 37% of hotel acquisitions in the United States, or US$11 billion, according to a new JLL Hotels & Hospitality report. This compares to 30% (US$7.1 billion) for all of 2017. Development companies have become more active in 2018, accounting for 13% (US$4 billion) of YTD 2018 hotel acquisitions, compared to 10% for all of 2017. Additionally, offshore capital is equal to US$4 billion of U.S. hotel acquisitions, compared to US$3.6 billion over the same period in 2017.

Trending: Chinese female travelers. The 2018 Chinese Travel Consumer Report found that 58% of independent travellers using China’s Ctrip’s platform are female. This marks a significant shift from 2016, when just 46% of FITs were women. Spending on travel is also 14% higher among female tourists, according to the report. Solo female travel is also on the rise with 58% of solo reservations on Ctrip’s November 11 Singles’ Day were made by female users.

See South China Morning Post report

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