Singapore-headquartered home-sharing platform Roomorama.com has ceased operations while it mulls over its future, in the face of intense competition and tighter regulation.
This leaves three major players in Singapore: Airbnb, HomeAway and MetroResidences, none of whom have commented.
In April 2012, Roomorama merged with Europe-based Lofty.com, a move that boosted its stable of properties to more than 300,000 and saw the company receiving US$2.1 million, but did not have first-mover advantage, and would have lost out in terms of grabbing market share.
A recent reduction in minimum stay requirements in private housing from six months to three, but durations of less than three consecutive months continue to be disallowed. All existing Roomerama bookings will be honoured.