Altido emerged this spring after four short-term property management companies merged, and is on track to process just under $65 million (£50 million) in gross bookings this year across 1,700 European units.

It is one example of vacation rental companies hoping to counter the challenge from new, well-financed home-rental management companies such as Airsorted, GuestReady, Hostmaker and Vacasa, by widening their reach through multiple mergers. All of these use the Guesty property management system which has raised $60 million to date.

Altido has diversified its offering across the most low-price budget options to high-end, including taking over an empty 150-room student dorm and turning it into a pop-up budget hotel under the ‘Altido Affordable’ name on Airbnb. It also lists on Marriott’s Homes & Villas, Booking.com and Hotels.com.

Read more: