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

The Cobalt Expansion Drive Is A Copper Story


IPEM 2023: Industry Outlook & Key Takeaways- In Crisis Lies Opportunity


Maritime and Trade Talk | EP12: Oil Price Cap - Implications for Trade and Shipping Risk


Maritime and Trade Talk | E10: Navigating Maritime Risks from an Insurers’ Perspective?

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.