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This story is available exclusively to Business Insider subscribers. A decade ago, those visitors were mostly from Southern cities within driving distance, like Atlanta and Nashville, local real-estate agent Beau Blankenship told Business Insider. Sunset over Rosemary Beach, Florida, in 30A. The boom, Stewart told Business Insider, had two inflection points. Advertisement"There'd be a few vacant lots, and then a house surrounded by trees and brush," he told Business Insider.
Persons: , Mexico —, Beau Blankenship, It's, Rosemary, Barry Winiker, Blankenship, Alys, Christian Blouin, Kemp Stewart, Rosemary Beach, Stewart, Truman, Kemp, hasn't Organizations: Service, Panama City Beach, Business, Hamptons, Street, The New York Times, Management, BI Locations: Florida, Rosemary, Seaside, Santa Rosa, Mexico, Destin, Panama, Southern, Atlanta, Nashville, Salt Lake City , Utah , Colorado, Walton County, Rosemary Beach , Florida, Inlet Beach, Chicago, Montana, Santa Rosa Beach, Oklahoma, Alys
Insider Today: The Hamptons of Florida
  + stars: | 2024-08-24 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com   time to read: +7 min
This week's dispatchView of Inlet Beach, Florida, one of the communities that makes up "30A" Courtesy of the Blankenship GroupMeet the "Hamptons of the South"A 26-mile stretch of Florida highway has been a well-kept secret for years. Sitting between popular spring break locales Destin and Panama City Beach, the 30A beaches comprise a few towns: Rosemary, Santa Rosa Beach, and Seaside. Despite the influx of interest and visitors, Kemp Stewart, a luxury rental owner who's seen 30A blow up in popularity, said that the beach towns' appeal has remained the same. No more night sweats : We found the three best cooling pajama sets for women to help hot sleepers chill out. AdvertisementMore of this week's top reads:The Insider Today team: Jordan Parker Erb, editor, in New York.
Persons: , Suzanne Hayes, it's, Dan Latu, Kemp Stewart, who's, It's, Kemp, Ben Affleck, Jennifer Lopez, Monica Schipper, Affleck, Jenny Chang, Rodriguez, Monica Humphries, Natalie Ammari, Zers, they're, Warner, Kevin Costner's, Max, Air McNair, docuseries, Steve McNair, Rebecca Zisser, Skip, we've, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan, Amanda Yen Organizations: Service, Business, Panama City Beach, BI, Warner Bros, Apple, Labor Locations: Florida, Beach , Florida, Gulf, Mexico, Panama, Santa Rosa Beach, Seaside, Redfin, New York, New York City
Read previewThis as-told-to essay is based on a conversation with Shelly Gates, 49, whose Jackson, Mississippi-based interior-decor firm Mary Margaret Designs focuses on college dorm rooms. It started with my daughter's dorm room at Mississippi State in 2020. There was a little "dorm room of the year" contest in one of my mom Facebook groups, and they happened to pick my daughter's room. The study corner of a room Gates designed at Ole Miss. A University of Southern Mississippi dorm room that Gates decorated.
Persons: , Shelly Gates, Mary Margaret Designs, Gates, Shelly Gates I've, Ole, I've, Mizzou, they'll, It's, Shelly Gates I'm Organizations: Service, Business, Mississippi State, Facebook, Mississippi State University, Southern Methodist University, SMU, University of Southern, Ole Miss, Amazon, Ole Locations: Jackson , Mississippi, South, Ole Miss , Mississippi State, University of Southern Mississippi, Bama, Belmont, Arkansas, Ridgeland , Mississippi
But Brown told Business Insider that more recent disappointing experiences with short-term rentals have led to a change of heart. This story is available exclusively to Business Insider subscribers. It's a far cry from the record-setting demand Airbnb saw immediately following COVID-19 lockdowns, when travelers craved private homes and acres of outdoor space. Hotels are winning over travelers in some areasDemand for Airbnbs is stalling or slipping in some categories where hotels are competitive, according to AirDNA. "I'm going to go check hotels and see if this is actually the best value," he told Business Insider.
Persons: , Duane Brown, Brown, there's, Airbnb, AirDNA, Brian Chesky, Chesky, Jamie Lane, Lane, Adam Burgh, Burgh, might've Organizations: Service, Business, Daytona, Seattle, Marriott Locations: London, Toronto, Budapest, Florida, Sarasota, Rio de Janeiro, South America, Airbnbs, Whidbey, Seattle
Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, Airbnb said its struggles are tied to consumers spending less, but it's also because they're opting for hotels instead . The big storyPlenty of vacancyiStock; Rebecca Zisser/BIAirbnb took a noticeable step back in its ongoing battle with hotels. But Airbnb's struggles are also a product of travelers opting for hotels instead , writes Business Insider's Dan Latu. The death of the so-called millennial lifestyle subsidy — for which Airbnb was a key player — resulted in consumers rethinking things.
Persons: , Airbnb, it's, let's, Rebecca Zisser, Execs, Airbnb's, Dan Latu, haven't, Jenny Chang, Rodriguez, Bloomberg it's, BI Bank of America isn't, Nicolás Ortega, Nate Silver, Chelsea Jia Feng, Alexander, Tal, Oren Alexander, Musk, Trump, Elon Musk's, Donald Trump, Ron DeSantis, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock Organizations: Service, Apple, Business, Bloomberg, Getty, BI Bank of America, Viking, Israel, BI, Apple Intelligence, Trump, X, Florida Gov, Google Locations: Iran, New York, London
Many experts say short-term rentals, including Airbnbs, are part of the problem, restricting local housing supply and driving up prices. We took a look at three European hubs — Lisbon, Florence, and Amsterdam — that have imposed relatively strict regulations on short-term rentals. Cities have been worried about the impact of short-term rentals on housing costs for years. Instead of a blanket ban, Amsterdam caps the number of nights hosts can rent out their homes at 30 a year. In an increasingly tight housing market, the dominance of short-term rentals acts as an "amplifier," he said.
Persons: , Airbnb, Lisbon's, João Pereira dos Santos, Pereira dos Santos, Gregory W, Fuller, Florence, Florence's, Dario Nardella, Antonello Romano, Romano Organizations: Service, Business, New York, School of Economics, Finance, Queen Mary University of London, University of Groningen, Wall Street, University of Pisa Locations: Barcelona, Barcelona's, Spanish, New York, Tokyo, Vancouver, London, Paris, — Lisbon, Florence, Amsterdam, Lisbon, New York City, EU, Portugal, Netherlands, Venice
Airbnb host Ashley Class said she had to ban crypto mining at her North Carolina property. She said guests ran up a $1,500 electricity bill after bringing many computer rigs into the home. Go to newsletter preferences Thanks for signing up! One North Carolina host has had to add another: no cryptocurrency mining. On July 30, Airbnb host Ashley Class said in a video posted to TikTok that she had banned crypto mining in her short-term rentals after a bizarre guest experience.
Persons: Ashley Class, , Ashley Organizations: Service Locations: North Carolina, Carolina
A quaint carriage house near Manhattan's Gramercy Park was originally built in the late 1800s. Descendants of Winston Churchill and New York's famous Astor family once lived there. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThis New York City carriage house has lived many lives since it was built in the 1800s.
Persons: Winston Churchill, Astor, Organizations: Service, New, Business Locations: Manhattan's, New, York City, New York
Dave Stephenson teased massages, personal chefs, and other add-ons in an interview with Bloomberg. It's the latest tactic the company is considering to woo travelers who might otherwise book hotels. Go to newsletter preferences Thanks for signing up! While attending the Olympics, Airbnb executive Dave Stephenson told Bloomberg that the short-term rental giant is considering an array of new offerings for guests. In his remarks, Stephenson mentioned massages, personal chefs, and more frequent cleanings — amenities that mimic those found in many luxury hotels.
Persons: Dave Stephenson, massages, , Stephenson Organizations: Bloomberg, Service, Business
In 1957, four Oregon families hired a locally famous architect to build them a mini-neighborhood. There were 12 kids among the families, and one fondly remembered growing up in the little village. Take a look inside the still-mint-condition homes, defined by wood details and lush landscaping. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The architect, John Storrs, would go on to become a regional icon, known for warm, natural materials and show-stopping windows.
Persons: , John Storrs Organizations: Service, Business Locations: Oregon, Portland , Oregon
Equinox announced a resort in Neom, the desert project in Saudi Arabia. The resort will feature high-end restaurants, a floating bridge, and 450-meter pool. Equinox opened its first hotel in 2019 in New York City, where rooms can go for $900 per night. AdvertisementEquinox is joining Crown Prince Mohammed bin Salman of Saudi Arabia in dreaming of a desert paradise as the company announces plans for a resort in Neom, the kingdom's utopia project. The luxury accommodations promise to feature high-end restaurants, a pool the length of 9 Olympic-sized courses, a floating bridge suspended 40 meters above a lagoon, and, of course, a signature Equinox gym.
Persons: , Crown Prince Mohammed bin Salman Organizations: Equinox, Service, Crown Prince Locations: Neom, Saudi Arabia, New York City
Miller, a 19-year-old real-estate agent, takes the viewer on a frantic jog through all three floors of the $3.4 million property. This story is available exclusively to Business Insider subscribers. AdvertisementHe filmed both, but posted the speed tour first later that day. He's traveled to Florida, Virginia, and Maryland over the last three months to film speed tours of homes. AdvertisementHe told Business Insider he's leaving for a trip soon to film speed tours for a vacation rental agency, showing off their luxury villas.
Persons: , Trenton Miller, Miller, it's, It's, Grant Cardone, homebuyers, — Miller, he'd, He's, he's Organizations: Service, Washington DC, Business, YouTube Locations: McLean , Virginia, Washington, Chambersburg , Pennsylvania, Gettysburg, TikTok, Chambersburg, Annapolis , Maryland, Florida , Virginia, Maryland
"There's no boss, there's no mentor," Serhant recalled to Business Insider. "The 1,000-minute rule helps me stay quick in my decision tree," Serhant explained. AdvertisementView each day as a time bank, with a fresh $1,000 depositWith 1,000 minutes at his disposal each day, Serhant views his day in 15-minute chunks. Running your own business, Serhant explained, involves both big ambitions, like his desire to become New York's top brokerage, and quick tasks. The 1,000-minute rule can be grueling and rewardingThe biggest downside to the 1,000-minute rule is its inflexibility, Serhant told BI.
Persons: , Ryan Serhant, there's, Serhant, — Serhant, Crystal Cox, Ryan Organizations: Service, Business, New, YouTube, Netflix Locations: New York City, Manhattan's Soho
Read previewPresident Joe Biden on Tuesday rolled out a plan offering landlords a choice: cap annual rent increases at 5% for the next two years or risk losing valuable tax credits. These landlords control more than half the national rental market, according to senior White House officials. Corporate landlords who increase rent by more than 5% would lose the valuable tax benefit known as depreciation deductions. AdvertisementA focus on housing affordabilityAs president, Biden has pushed a series of pro-housing policies and generally favored more federal participation in housing policy. Tuesday's move is part of a series of recent housing policy announcements from the administration.
Persons: , Joe Biden, Lael Brainard, Biden, Donald Trump, alledgedly colluding, Kamala Harris, Janet Yellen Organizations: Service, White House, Business, Harvard Joint Center for Housing Studies, Harvard, Tax, Republicans, Union Locations: Nevada, Clark County, Henderson , Nevada, State
Anant Ambani, a son of the richest man in India, is marrying Radhika Merchant this weekend. The over-the-top festivities will partially held at the family's luxurious Mumbai home, Antilia. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRihanna, Justin Bieber, and Katy Perry have already serenaded Anant Ambani and Radhika Merchant in glittering parties that have captured the world's attention. This story is available exclusively to Business Insider subscribers.
Persons: Anant Ambani, Radhika Merchant, , Justin Bieber, Katy Perry, Mukesh Ambani, Anant Organizations: Service, Business Locations: India, Mumbai
Read previewIn the quiet Hill Country town of Comfort, Texas, Airbnb host A. Jay Allee welcomed guests to a rural retreat. During that time, he also secretly recorded images of his guests, according to a CNN investigation into the use of cameras inside short-term rentals. This story is available exclusively to Business Insider subscribers. Airbnb banned indoor security cameras in April. AdvertisementOne woman, who told CNN she was recorded having sex with her husband at Allee's property, said "What is made into digital content is forever."
Persons: , Jay Allee, Allee, Airbnb, David Wyzynajtys, Wyzynajtys Organizations: Service, CNN, Court, Business, Local Locations: Comfort , Texas, Kendall County
AdvertisementBut the process sparked an idea: Real-estate brokers might be stars who are just as big as the homes they sell. Real estate was not an easy sell to TV executives at firstThe cast of Barbato and Bailey's new show, "Owning Manhattan," on Netflix. For "Owning Manhattan," the duo said they filmed 20 different sales listings represented by Serhant and his fellow brokers, but only seven resulted in deals. In the first episode of "Owning Manhattan," Serhant shows off a listing atop the world's tallest residence, the three-story penthouse at Central Park Tower, asking $195 million. Viewers will follow Serhant in "Owning Manhattan" as he attempts to make his namesake brokerage firm the No.
Persons: , Fenton Bailey, Randy Barbato, Debby Berg, Berg, Barbato, Bailey, Tracy Tutor, Altman, Ryan Serhant, Theo Wargo, he's, Gore, That's, dealmaking, Serhant, We're, They're Organizations: Service, Business, Hollywood, Los Angeles, Bravo, Netflix, Gore Vidal's, Tower Locations: Angeles, Los Angeles, New York City, LA, Brentwood, Beverly Hills, New York, Miami, San Francisco, Manhattan, Los Angeles and New York, Gore Vidal's Los Angeles, Real
Advertisement"We were showing people what they had never seen before," Serhant, 39, told Business Insider. "The real estate isn't what's exclusive anymore," Serhant explained. Serhant passed down wisdom to new agentsRyan Serhant and his team of agents want to become the #1 real estate firm in New York City in their new Netflix show. "The show is going to be great if it's the most vulnerable real estate show on the planet and the most authentic," he told BI. In the first episode of "Owning Manhattan," Serhant said he wants his eponymous firm, just four years old, to be the No.
Persons: , Instagram, Ryan Serhant, Serhant, it's, he's, Chloe Tucker Caine, Tricia Lee Organizations: Service, New York, Business, Netflix, Television, YouTube, Benz Locations: New York City, Greenwich, Manhattan, New, Brooklyn, York City, Miami, Greece
Read previewLast September, New York City began enforcing its strict new regulations on short-term rentals. Since then, the number of legal short-term rentals listed on Airbnb and other platforms has plummeted. Impacts of the near-banLL18 was motivated by the city's housing affordability crisis, caused in large part by a severe housing shortage. Short-term rentals, including Airbnbs, can take homes that would otherwise be lived in full-time off the market, potentially exacerbating the housing shortage. But there's some evidence, including from Irvine, California, that restricting short-term rentals can reduce rents.
Persons: , it's, Jamie Lane, Lane, hasn't, Klossner, LL18, Eric Adams, TIMOTHY A, CLARY, Scott Stringer, Airbnb, It's, Nathan Rotman Organizations: Service, Business, Mayor's, Criminal, Special, York City, Hotel, Former, Big Apple, New Locations: New York City, New, York, Irvine , California, New York
A new book, "The Atlas of Never Built Architecture," explores the world as it could've been. Authors Sam Lubell and Greg Goldin explore never-built designs from over 300 global architects. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email.
Persons: could've, Sam Lubell, Greg Goldin, Organizations: Service, Business Locations: Jakarta's, Los Angeles
Sunglasses mogul James Jannard broke a California record with the sale of his $210 Malibu home. Last year, Jay-Z and Beyoncé had set a record after selling their $200 million Malibu compound. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Jannard sold his Malibu mansion for $210 million, first reported by the Los Angeles Times. The new owner's name is shrouded behind an anonymous LLC, the Times reported.
Persons: James Jannard, Jay, Beyoncé, , Oakley, Jannard Organizations: Malibu, Service, Los Angeles Times, Times Locations: California
Read previewIn November, the city of Las Vegas issued a $180,000 fine against a homeowner who officials say ran an unauthorized Airbnb near the Las Vegas strip. The homeowner, however, told Business Insider he believed he was the victim of a scam run by the tenant renting his house at the time. In June 2021, Xin Tao purchased a five-bedroom, two-bathroom property in Las Vegas for $378,000. On two separate occasions in October 2021 and February 2022, Las Vegas city officials knocked on the door, according to government logs. In 2019, Las Vegas instituted sweeping regulations of short-term rentals, including banning out-of-state investors from owning Airbnbs, amid outcry from local residents who complained of an influx of "parties, prostitution, and drugs into residential communities," the Las Vegas Sun reported.
Persons: , Xin Tao, Tao, Airbnb, Brian Knudsen Organizations: Service, Business, Las Vegas City Council, Las Vegas, Vegas Sun, Fox, City Council Locations: Las Vegas, Vegas, Oregon, Airbnb, City
Read previewGuests in a North Carolina Airbnb rental have refused to leave the property after an eight-month stay, the homeowner said. Farzana Rahman, the Airbnb host, said the guests taped a sign to the door that says they are "legal residents." "It's not fair," Rahman told Business Insider. The guests told the cleaners to leave and asked Rahman if they could stay through Memorial Day on May 27. "If you see red flags at the beginning, people trying to make you break your contract and go outside," she told Business Insider.
Persons: , Farzana Rahman, Rahman, It's, Airbnb, they'd, Rahman couldn't, she's Organizations: Service, Business, ABC, BI Locations: North Carolina, Durham , North Carolina
Bridgewater Associates' Greg Jensen has listed Rogers Island for a cool $35 million. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Greg Jensen, Bridgewater Associates' co-chief investment officer, has listed his Rogers Island property in Connecticut for $35 million, The Wall Street Journal first reported. The private island — which Jensen purchased for roughly $22 million in 2018, according to the Journal — is roughly 7.7 acres and has multiple houses, a tennis court, and a putting green.
Persons: Greg Jensen, Rogers, , Jensen Organizations: Bridgewater Associates, Service, Street Journal, Business Locations: Thimble, Connecticut, New York City
Unwilling to chance the New York City market — in which homes usually just get more expensive — the couple decided to stay put. Enter architect Robert Garneau, who first experimented with flexible spaces in his own New York City apartment 25 years ago. The whole apartment, located on Manhattan's family-friendly Upper East Side, clocks in at 400 square feet. According to The New York Times, which first profiled the apartment, the couple purchased it in 2006 for around $300,000. AdvertisementThe family has now lived comfortably in the renovated apartment for over two years — take a look inside.
Persons: , Robert Garneau, who's, Murphy, Garneau Organizations: Service, New, Business, The New York Times Locations: Manhattan, New York City, New York City , California, Spain, France
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