6. HOSTELS:
Hostels are commercial establishments that provide affordable food and lodging for a specific
group of people, such as students, workers, or travelers. The concept of hostels is quite
prevalent across the world and has a presence even across America. Hostels are usually seen
in big cities and tourist towns.
COLIVING:
Coliving is a type of intentional community providing shared housing for people with shared
mindset. This may simply be coming together for activities such as meals and discussions in
the common living areas, and even may extend to shared workspace and collective
endeavours such as living more sustainably. There are multiple coliving facilities operating in
Daly City since 2016.
Coliving STR
These coliving accommodations are usually organised by a businesses as a service to its
guests who range from locals, newly moved residents and even working group people. A
lot of tech workers, gig workers and millennials in general prefer such shared living
arrangements nowadays to avoid the hassle of year long leases and security deposits. In
the recent days there are hybrid coliving accommodations have started giving flexibility
to guest with membership services where guest have the comfort of choosing the
location and duration of stay.
RESIDENTIAL HOTELS:
An apartment hotel is a serviced apartment complex that uses a hotel-style booking
system. It is similar to renting an apartment, but with no fixed contracts and occupants
can "check out" whenever they wish. It is very famous in Europe where houses are
typically converted into a hotel and offered to guests on a per night basis and these
generally tend to be family owned.
Source: Data Collected from AirDNA as of 09/12/2020 about vacation rentals and data
about coliving spaces/hotels from publicly available search engines and collected
market data.
CURRENT MARKET PRACTICES & TRENDS
The rise of coworking is a natural predecessor for widespread coliving: the concept that
people can live in a shared space without recreating the feeling of living in a college
dorm. Taking advantage of large houses and lonely millennials, coliving has become the
newest disruption of surplus space in the real-estate industry. While there are certainly
bumps on the road ahead for the new coliving industry players, only equitable legislation
and proper governance would help organize the businesses for the betterment of host,
guest, community and city coffers.
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