Rakuten and LIFULL to start Short Term Stay company
Rakuten LIFULL STAY
One of the largest IT service company in Japan, Rakuten, and the property portal website with the most property listings in Japan, LIFULL, have established a new co-share company last year in March of 2017.
Rakuten whom offers more than 70 IT services and holds more than 90 million memberships, and LIFULL whom has over 8 million property listings with a network of 2.2 million Property Agents are now working together as Rakuten LIFULL STAY. The new company, Rakuten LIFULL STAY`s business is to bring together vacant houses all around Japan and current real estate owners who would like to register their property as “short term stay” property, with a platform known as “Vacation Stay” to provide a new short term stay product in Japan as their core business.
With the increasing demand for “short term stay” options rather than staying at a hotel, the Japanese government is starting to implement new regulations and rules to keep the “hype” under control. Both Rakuten and LIFULL are working together with Japan`s MLIT (Ministry of Land Infrastructure, Transport and Tourism) to further understand the new rules, research the demand and supply, and further offer a product that abides with the “short term stay” rules implemented by the Japanese government.
It has been 1 year since Rakuten LIFULL STAY has been established and they have already partnered with other Short Term Stay platform websites such as, Rakuten Travel (via Rakuten), Tujia, Booking.com, Home Away by Expedia, and AsiaYo!. A total of 5 platforms. Rakuten LIFULL STAY has also set up an “owner assistance” service where real estate owners can brand their apartment/unit with interior and amenity setups through the Rakuten STAY brand. Of course this service also comes with management and registration access to the partner platforms as well. Aside from short term stay they also offer services in the “monthly term stay” field for corporations/ language schools, and etc who would like to use this service.
In the coming years Rakuten LIFULL STAY will also start talking to Japanese developers to incorporate their ideas and brand to build enbloc properties that can cater to the future needs. Rakuten LIFULL STAY also aims to surpass the current market dominator, Air BnB as one of their goals.
Rakuten LIFULL STAY: https://www.rakuten-lifull-stay.co.jp/