Summer Launches SummerOS for Enhanced Management of Short-Term Rentals
Summer, originally a rent-to-own initiative in the short-term rental (STR) market, has transitioned into a software-as-a-service (SaaS) business with the introduction of SummerOS, an advanced asset management software designed specifically for STR operators. Founded in 2021 by former Airbnb employees, Summer is tapping into its deep industry roots to innovate within the STR sector.
SummerOS is engineered to harness “millions of data points” from markets across the United States, offering STR managers and owners a comprehensive suite of tools to enhance operational efficiency. The platform provides detailed performance comparisons for individual properties and suggests actionable steps for improvement. Its capabilities extend to revenue forecasting, underwriting, market intelligence, and gathering insights—all integrated into one streamlined interface.
Paul Kromidas, co-founder and CEO of Summer, emphasized the need for such innovation, stating, “The short-term rental industry has grown into a $125 billion industry, yet operators still lack the professional-grade tools that have been standard in other segments of real estate for years.”
The development of SummerOS was initially for internal use, to refine the management of Summer’s own property portfolio. However, after sharing the tool with partners who experienced immediate benefits, the decision was made to offer SummerOS more broadly, shifting the company’s focus exclusively to SaaS.
In addition to launching SummerOS, Summer has announced that its other property management assets have been acquired by Portoro, a luxury property management firm. Dustin Abney, CEO of Portoro, praised SummerOS for its “advanced analytics and forecasting tools,” which have significantly improved decision-making processes within his company.
This strategic pivot not only marks a significant evolution in Summer’s business model but also strengthens its position within the competitive STR market. This move follows Summer’s successful $18 million Series A funding round and securing a $50 million debt facility in 2023, underlining the industry’s confidence in Summer’s innovative approach to STR management.
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