trending Market Intelligence /marketintelligence/en/news-insights/trending/bbuyTgwCELqhLN_wZMF2ag2 content esgSubNav
In This List

Newgard to develop 1st building in new Airbnb apartment brand

Blog

Capital Markets Activity Infographic: SPAC Volume Rises in Q3; Equity Issuance Drops but Remains Strong in Several Sectors

Blog

Asset Owner Perspectives on Climate Change Measurement, Management, and Reporting in Australia

Blog

How Financial Institutions are Managing Exposure to U.S. Municipals

Blog

Insight Weekly: Global stock performance; hydrogen pilot projects; Powell's Fed future unsure


Newgard to develop 1st building in new Airbnb apartment brand

Home-sharing startup Airbnb Inc. is partnering with Newgard Development Group to launch its first apartment brand called Niido Powered By Airbnb, Forbes reported, citing an interview with Newgard CEO Harvey Hernandez.

Newgard will develop the first building under the brand, which will be a 324-unit apartment complex in Kissimmee, Fla. The project will be launched during the first quarter of 2018.

As part of the plan, tenants at the property that have annual leases with Niido will be able to rent their entire apartments on Airbnb for up to 180 nights per year. There will be no limit on the number of nights for tenants who choose to rent out a single bedroom, Hernandez told the publication. Niido in turn will take a share of the revenue from the tenants' Airbnb home-sharing activities.

Airbnb will not own any stake in the complex, which will be fully owned by Newgard, according to the publication.