RedAwning acquires STR property management startup Awning

RedAwning, which offers marketing, revenue management and guest experience tools
for more than 20,000 short-term rental properties, independent hotels and inns,
has acquired Awning, a startup offering a complementary solution.

Financial terms of the deal are not being released, but a RedAwning
spokesperson said it has hired more than 50 Awning employees. Awning’s founders
will come over to help with the transition but will not remain long term.

Founded in 2019, Awning helps property owners and investors purchase and
manage short-term rentals, providing services such as site selection, assistance with renovation and furnishings and ongoing management
and guest services.

“We are delighted to join forces with the impressive team at Awning and
expand our platform to include a remote full service management option for
homeowners,” said Tim Choate, CEO of RedAwning. 

“We anticipate seamless transitions for all of the current Awning clients as
we hired the team from Awning too and are excited to make available a remote
service option for individual homeowners that complements RedAwning’s industry
leading marketing and distribution solutions.”

Awning began with a focus on real estate investment and then evolved to
specialize in vacation rentals.

“Transitioning to RedAwning’s umbrella allows us to leverage a broader array
of resources, tapping into their established leadership and innovative platform
to elevate the service we provide to hosts across the board,” said Shri
Ganeshram, CEO and founder of Awning. 

In November 2022, RedAwning
acquired the business and client base of channel manager Lexicon Travel
Technologies.