STR Global Unlocked with Simon Lehmann: Unfiltered knowledge for the short term rental industry

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The short-term rental industry is evolving fast, and Simon Lehmann isn’t afraid to say what others won’t.STR Global Unlocked is where property managers, STR tech founders, vacation rental investors, and hospitality leaders get real about the business. Each episode breaks down what’s working, what’s broken, and what’s coming next: property management operations, direct bookings, vacation rental software, pricing strategies, mergers and acquisitions in real estate, professional host challenges, and the future of automation, AI, and tech stacks. Hosted by Simon Lehmann, CEO of AJL Atelier and one of the most trusted voices in the global STR space, the show delivers unfiltered conversations with the people shaping the industry. Simon has decades of experience in vacation rentals, travel tech, and hospitality, including leadership roles at Vacasa Europe, PhocusWright and HomeAway. If you’re scaling a property management company, building short-term rental technology, investing in vacation rentals, or entering this fast-moving market, this podcast is your seat at the table. 

  1. 013: 2025 Holiday Special - A Year That Changed the STR Conversation

    1D AGO

    013: 2025 Holiday Special - A Year That Changed the STR Conversation

    “2025 wasn’t about growth at all costs. It was about margins, execution, and whether your operation actually works.” — Simon Lehmann 2025 marked a turning point for the short-term rental industry. Not a year of hype or breakout growth, but a year of recalibration. In this Holiday Special of STR Global Unlocked, Simon Lehmann reflects on the conversations, tensions, and signals that defined the industry throughout the year. These insights are drawn not only from the podcast, but also from in-person events, operator discussions, and real-world industry dialogue across global markets. This episode captures where short-term rentals stand today, shaped by operators facing tighter margins, more regulation, and rising expectations around execution. In this episode, we discuss: How industry conversations shifted throughout 2025Why margins, operations, and disciplined growth moved back to the forefrontWhat recurring tensions kept surfacing across operators and leadersHow technology discussions became more grounded in operational realityWhere AI entered the conversation in practical, non-theoretical waysWhy professionalization continues to separate operators across regionsWhat remains unresolved as the industry looks aheadResources AJL Atelier – Global STR Consulting [https://www.ajlatelier.com]. Led by our host Simon Lehmann, AJL Atelier is a boutique advisory firm helping professional hosts, property managers, and investors succeed in the short-term rental industry. Connect with Simon Lehmann on LinkedIn [https://www.linkedin.com/in/simon-lehmann-8375753b/] Stay connected: Apple Podcasts: https://podcasts.apple.com/us/podcast/str-global-unlocked-with-simon-lehmann-unfiltered/id1842946960 Spotify: https://open.spotify.com/show/3kke4wOx0tNv0duq9MMWtO Youtube: https://www.youtube.com/playlist?list=PLWVkmUOkmhSHcFjzi28AhaQNR98vaG65O Website: https://www.ajlatelier.com/podcasts Newsletter: https://str-global-unlocked.beehiiv.com/

    17 min
  2. 012: Europe's STR Growth Challenge: Fragmentation, Regulation, and Execution - Panel with GuestReady, COCOONR, and Happy.Rentals

    DEC 23

    012: Europe's STR Growth Challenge: Fragmentation, Regulation, and Execution - Panel with GuestReady, COCOONR, and Happy.Rentals

    Europe is often discussed as a single market. This panel makes clear why it is not. In this panel, Simon Lehmann brings together three leaders navigating growth across Europe’s most fragmented markets: Alexander Limpert (GuestReady and RentalReady), Antoine Serrurier (COCOONR), and Harold Lubberdink (Happy.Rentals). Together they break down what sustainable growth really looks like when regulation, local execution, and trust change country by country. You’ll hear why there is no single European playbook, how operators balance centralized systems with hyper-local operations, and why technology only works when it supports operational excellence on the ground. In this conversation, we discuss: Why short-term rental growth in Europe looks different market by marketHow STR regulation in Europe shapes scaling strategies and operating modelsWhy trust and local operations matter more than brand when scaling STR in EuropeHow European STR operators balance centralized systems with local executionWhere technology actually helps scale STR operations and where it falls shortWhy there is no single business model for scaling short-term rentals in Europe Learn more about our guests: Connect with Alexander Limpert on LinkedIn [https://www.linkedin.com/in/alexanderlimpert/] to learn more about GuestReady [https://www.guestready.com] & RentalReady [https://www.rentalready.com/].  Connect with Antoine Serrurier on LinkedIn [https://www.linkedin.com/in/antoine-serrurier-6a505917/] to learn more about COCOONR [https://cocoonr.fr/].  Connect with Harold Lubberdink on LinkedIn [https://www.linkedin.com/in/harold-lubberdink-b9a67113/] to learn more about Happy.Rentals [http://happy.rentals/].  Resources AJL Atelier – Global STR Consulting [https://www.ajlatelier.com]. Led by our host Simon Lehmann, AJL Atelier is a boutique advisory firm helping professional hosts, property managers, and investors succeed in the short-term rental industry. Connect with Simon Lehmann on LinkedIn [https://www.linkedin.com/in/simon-lehmann-8375753b/] Stay connected: Apple Podcasts: https://podcasts.apple.com/us/podcast/str-global-unlocked-with-simon-lehmann-unfiltered/id1842946960 Spotify: https://open.spotify.com/show/3kke4wOx0tNv0duq9MMWtO Youtube: https://www.youtube.com/playlist?list=PLWVkmUOkmhSHcFjzi28AhaQNR98vaG65O Website: https://www.ajlatelier.com/podcasts Newsletter: https://str-global-unlocked.beehiiv.com/

    1h 1m
  3. 011: What VCs Really Look For in STR Tech: Insights from TCV’s Woody Marshall

    DEC 16

    011: What VCs Really Look For in STR Tech: Insights from TCV’s Woody Marshall

    Woody Marshall is a General Partner at TCV, one of the most influential investment firms in global technology and a long-standing backer of travel companies including Expedia, Airbnb, HomeAway and TripAdvisor. With more than two decades of experience investing in category-defining platforms, Woody brings a unique view of how technology evolves and what it takes for a company to break through in fragmented markets. In this episode, Simon Lehmann speaks with Woody about the state of short-term rental technology, why investor appetite has shifted and how AI, consolidation and new competitive pressures are reshaping the landscape. Woody explains how TCV evaluates opportunity, why STR technology has different valuation dynamics than traditional SaaS and what founders should understand as they build in an increasingly crowded space. This conversation offers an unfiltered look at how top-tier investors see the market and what it will take for the next generation of STR technology companies to stand out. In this conversation, we discuss: How TCV approaches travel technology and why STR platforms require a distinct investment lens.Why fragmentation across PMS, operations, revenue tools and distribution makes scale difficult to achieve.How AI is reshaping search, personalization and product experience and what this means for STR platforms.Why consolidation is likely and where the market may converge as the tech stack evolves.How competitive dynamics with incumbents and AI-first entrants affect valuation, defensibility and long-term strategy.What founders must demonstrate today to compete, differentiate and attract institutional investment. Explore more: Connect with Woody Marshall on LinkedIn [https://www.linkedin.com/in/woodymarshall/]  to learn more about TCV [https://www.tcv.com/]  Resources AJL Atelier – Global STR Consulting [https://www.ajlatelier.com]. Led by our host Simon Lehmann, AJL Atelier is a boutique advisory firm helping professional hosts, property managers, and investors succeed in the short-term rental industry. Connect with Simon Lehmann on LinkedIn [https://www.linkedin.com/in/simon-lehmann-8375753b/] Stay connected: Apple Podcasts: https://podcasts.apple.com/us/podcast/str-global-unlocked-with-simon-lehmann-unfiltered/id1842946960 Spotify: https://open.spotify.com/show/3kke4wOx0tNv0duq9MMWtO Youtube: https://www.youtube.com/playlist?list=PLWVkmUOkmhSHcFjzi28AhaQNR98vaG65O Website: https://www.ajlatelier.com/podcasts Newsletter: https://str-global-unlocked.beehiiv.com/

    45 min
  4. 010: The Midterm Rental Shift with Furnished Finder’s Jeff Hurst and Cami Narino

    DEC 9

    010: The Midterm Rental Shift with Furnished Finder’s Jeff Hurst and Cami Narino

    Cami Narino, Chief Operating Officer, and Jeff Hurst, Chief Executive Officer at Furnished Finder, join Simon Lehmann to analyze one of the most important shifts happening in housing and hospitality today: the rise of midterm rentals. Over the past decade, Furnished Finder has grown from zero to more than 300,000 listings, powered by independent landlords, changing mobility patterns and a growing need for flexible housing across the United States. In this episode, Cami and Jeff explain why midterm rentals are gaining momentum, what supply looks like in practice and how the needs of monthly renters differ from short-term guests. They break down the economics of the category, the operational cadence behind longer stays and the technology required to screen guests, reduce fraud and deliver safer outcomes for both sides of the marketplace. This conversation shows how midterm rentals are evolving, what is driving demand and why operators and landlords should pay attention as the category matures. In this conversation, we discuss: Why midterm rentals are becoming a meaningful category in housing and hospitality and how demand has shifted beyond short stays.How independent landlords drive the majority of midterm rental supply and why their inventory behaves differently from STR.What sets midterm rentals apart from short-term stays, including operational cadence, guest expectations and pricing stability.How Furnished Finder scaled from 20,000 to more than 300,000 listings and why the marketplace model, not instant booking, works for monthly stays.How screening, verification and trust and safety have become essential to creating safer outcomes for guests and property owners.How regulation, supply trends and capital cycles are shaping the future of midterm rentals as the category matures. Explore more: Connect with CEO Jeff Hurst [https://www.linkedin.com/in/jeff-hurst-atx/] and COO Cami Narino on LinkedIn [https://www.linkedin.com/in/cami-narino/] to learn more about Furnished Finder [www.furnishedfinder.com].   Exclusive offer for STR Global Unlocked listeners: Use code UNLOCKED10 for 10 percent off a new Furnished Finder listing through 12/31/2025.Resources AJL Atelier – Global STR Consulting [https://www.ajlatelier.com]. Led by our host Simon Lehmann, AJL Atelier is a boutique advisory firm helping professional hosts, property managers, and investors succeed in the short-term rental industry. Connect with Simon Lehmann on LinkedIn [https://www.linkedin.com/in/simon-lehmann-8375753b/] Stay connected: Apple Podcasts: https://podcasts.apple.com/us/podcast/str-global-unlocked-with-simon-lehmann-unfiltered/id1842946960 Spotify: https://open.spotify.com/show/3kke4wOx0tNv0duq9MMWtO Youtube: https://www.youtube.com/playlist?list=PLWVkmUOkmhSHcFjzi28AhaQNR98vaG65O Website: https://www.ajlatelier.com/podcasts Newsletter: https://str-global-unlocked.beehiiv.com/

    51 min
  5. 009: Booking Holdings President and CEO Glenn Fogel on AI and Why STR Is the Next Big Travel Shift

    DEC 2

    009: Booking Holdings President and CEO Glenn Fogel on AI and Why STR Is the Next Big Travel Shift

    Glenn Fogel is the President and CEO of Booking Holdings, the parent company of Booking.com, Priceline, Kayak and other global brands that shape how the world travels. With more than two decades at the forefront of online travel, he has guided Booking through major industry shifts, emerging technologies and changing traveler behavior. In this episode, Simon Lehmann speaks with Glenn about how AI, search and short-term rentals are redefining the future of travel. Glenn explains why STR is now central to Booking’s long-term strategy, how traveler expectations are evolving, and why the Connected Trip vision depends on both technology and human judgment. This conversation offers a clear view of how one of the most influential leaders in travel sees the road ahead and what operators need to understand as the industry moves into a new phase. In this conversation, we discuss: How AI is reshaping travel search through natural-language queries, proactive trip planning and Booking’s early work with OpenAI, Google Gemini and other models.Why short-term rentals are now a core growth engine for Booking.com, representing 36% of room nights and outpacing hotel inventory growth globally.What the Connected Trip means for travelers and how Booking plans to reduce friction with predictive tools, better timing, automated fixes and personalized recommendations.The strategic challenges in the US and Asia and how Booking is rebuilding its STR product to win listings, improve quality and meet rising market expectations.The rising role of FinTech in travel including payments, fraud prevention, cancellations, insurance and cross-border settlement designed to reduce friction for partners and guests.How regulation, consumer behavior and post-pandemic trends are reshaping STR supply, demand patterns and the long-term future of global travel. Explore more: Connect with Glenn Fogel on LinkedIn [https://www.linkedin.com/in/glennfogel/] to learn more about Booking Holdings [https://www.bookingholdings.com/].  Resources AJL Atelier – Global STR Consulting [https://www.ajlatelier.com]. Led by our host Simon Lehmann, AJL Atelier is a boutique advisory firm helping professional hosts, property managers, and investors succeed in the short-term rental industry. Connect with Simon Lehmann on LinkedIn [https://www.linkedin.com/in/simon-lehmann-8375753b/] Stay connected: Apple Podcasts: https://podcasts.apple.com/us/podcast/str-global-unlocked-with-simon-lehmann-unfiltered/id1842946960 Spotify: https://open.spotify.com/show/3kke4wOx0tNv0duq9MMWtO Youtube: https://www.youtube.com/playlist?list=PLWVkmUOkmhSHcFjzi28AhaQNR98vaG65O Website: https://www.ajlatelier.com/podcasts Newsletter: https://str-global-unlocked.beehiiv.com/

    51 min
  6. 008: Hospitality or Tech? A Closer Look at AvantStay’s Approach to STR with its Founder and CEO, Sean Breuner

    NOV 25

    008: Hospitality or Tech? A Closer Look at AvantStay’s Approach to STR with its Founder and CEO, Sean Breuner

    Sean Breuner is the Founder and CEO of AvantStay, one of the most ambitious hospitality brands in the short-term rental industry. Since launching in 2017, AvantStay has raised significant capital, expanded across the United States, and set out to define what a national hospitality brand could look like in STR. In this episode, Simon Lehmann sits down with Sean for an open conversation on scale, brand building, operational reality, and the tough decisions required to grow during one of the most volatile periods in the industry’s history.  Sean shares the thinking behind AvantStay’s proprietary tech platform, its “Hotel in a Home” thesis, and what it takes to deliver consistency at scale in a horizontal operating model. In this conversation, we discuss: Why AvantStay was built around group travel and a “Hotel in a Home” experience.How brand, technology, and operational tooling came together to create a vertical hospitality platform.Why AvantStay invested in proprietary tech and what it takes to maintain quality across dispersed markets.How the company navigated rapid expansion, macroeconomic shifts, and multiple rounds of layoffs.Why alignment with homeowners matters more than ever and why asset-light models continue to win.How regulation, consolidation, and shifting distribution dynamics will shape the future of STR. Explore more: Connect with Sean Breuner on LinkedIn [https://www.linkedin.com/in/seanbreuner/] to learn more about AvantStay [https://www.avantstay.com].  Resources AJL Atelier – Global STR Consulting [https://www.ajlatelier.com]. Led by our host Simon Lehmann, AJL Atelier is a boutique advisory firm helping professional hosts, property managers, and investors succeed in the short-term rental industry. Connect with Simon Lehmann on LinkedIn [https://www.linkedin.com/in/simon-lehmann-8375753b/] Stay connected: Apple Podcasts: https://podcasts.apple.com/us/podcast/str-global-unlocked-with-simon-lehmann-unfiltered/id1842946960 Spotify: https://open.spotify.com/show/3kke4wOx0tNv0duq9MMWtO Youtube: https://www.youtube.com/playlist?list=PLWVkmUOkmhSHcFjzi28AhaQNR98vaG65O Website: https://www.ajlatelier.com/podcasts Newsletter: https://str-global-unlocked.beehiiv.com/

    46 min
  7. 007: What Really Happened at Vacasa? Cliff Johnson, Co-Founder and Former COO, Shares Lessons for STR Founders

    NOV 18

    007: What Really Happened at Vacasa? Cliff Johnson, Co-Founder and Former COO, Shares Lessons for STR Founders

    Cliff Johnson is the former Co-Founder of Vacasa, one of the largest short-term rental management companies in the United States, and now serves as President of PadSplit, a fast-growing affordable housing marketplace. His journey from startup founder to industry veteran gives him a rare perspective on how far the STR sector has come (and what still holds it back). In this episode, Simon Lehmann sits down with Cliff to trace Vacasa’s early days, the decisions that shaped its rise, and the lessons learned from scaling too fast. Cliff also shares how his mission-driven approach now guides his work at PadSplit, tackling housing accessibility through a completely different model. This is an inside look at the human side of growth, leadership, and what the industry can learn from both its successes and its missteps. In this conversation, we discuss: How Cliff Johnson and Eric Breon founded Vacasa during the 2008 recession and built it into a national brand.Why Vacasa’s focus shifted from mission and quality to growth at all costs—and what that change revealed about the industry.The challenges of raising capital and why positioning as a “tech company” mattered to investors.Lessons from Vacasa’s global expansion and what went wrong in scaling internationally.Why operational quality and human capital still define long-term success in short-term rentals.How today’s property managers can balance owner expectations, guest experience, and sustainable profitability.Learn more about our guest: Connect with Cliff Johnson on LinkedIn [https://www.linkedin.com/in/johnsoncliff] to learn more about PadSplit [https://www.padsplit.com/], the USA’s largest coliving marketplace.  Resources AJL Atelier – Global STR Consulting [https://www.ajlatelier.com]. Led by our host Simon Lehmann, AJL Atelier is a boutique advisory firm helping professional hosts, property managers, and investors succeed in the short-term rental industry. Connect with Simon Lehmann on LinkedIn [https://www.linkedin.com/in/simon-lehmann-8375753b/] Stay connected: Apple Podcasts: https://podcasts.apple.com/us/podcast/str-global-unlocked-with-simon-lehmann-unfiltered/id1842946960 Spotify: https://open.spotify.com/show/3kke4wOx0tNv0duq9MMWtO Youtube: https://www.youtube.com/playlist?list=PLWVkmUOkmhSHcFjzi28AhaQNR98vaG65O Website: https://www.ajlatelier.com/podcasts Newsletter: https://str-global-unlocked.beehiiv.com/

    49 min
  8. 006: Can Revenue and Operations Work as One? Breezeway & PriceLabs CEOs Redefine STR Technology

    NOV 11

    006: Can Revenue and Operations Work as One? Breezeway & PriceLabs CEOs Redefine STR Technology

    Two systems drive every property management company: revenue and operations. For years, they’ve worked in silos. But what happens when they finally connect? In this episode, Simon Lehmann brings together Jeremy Gall, Founder and CEO at Breezeway, and Richie Khandelwal, Co-founder at PriceLabs, to explore how smarter data, clearer demand signals, and integrated tools can redefine how professional operators run their businesses.  The discussion uncovers why market fragmentation continues to challenge scalability, which technologies may be overhyped, and how real profitability depends on linking pricing with operational execution. In this conversation, we discuss: Why revenue and operations are the two pillars every short-term rental business must align.How market fragmentation and slow tech adoption continue to define the STR landscape.Which parts of the STR tech stack are consolidating and why some tools will stay specialized.How understanding demand signals helps operators plan resources and boost profitability.Why AI’s influence in short-term rentals is real but still developing.What a smarter, more connected tech stack means for professional property managers today. Learn more about our guests: Connect with Jeremy Gall on LinkedIn [linkedin.com/in/jeremiahgall] to learn more about Breezeway [breezeway.io].  Connect with Richie Khandelwal on LinkedIn [linkedin.com/in/richiekhandelwal] to learn more about PriceLabs [hello.pricelabs.co].  Resources AJL Atelier – Global STR Consulting [https://www.ajlatelier.com]. Led by our host Simon Lehmann, AJL Atelier is a boutique advisory firm helping professional hosts, property managers, and investors succeed in the short-term rental industry. Connect with Simon Lehmann on LinkedIn [https://www.linkedin.com/in/simon-lehmann-8375753b/] Stay connected: Apple Podcasts: https://podcasts.apple.com/us/podcast/str-global-unlocked-with-simon-lehmann-unfiltered/id1842946960 Spotify: https://open.spotify.com/show/3kke4wOx0tNv0duq9MMWtO Youtube: https://www.youtube.com/playlist?list=PLWVkmUOkmhSHcFjzi28AhaQNR98vaG65O Website: https://www.ajlatelier.com/podcasts Newsletter: https://str-global-unlocked.beehiiv.com/

    54 min

Trailer

5
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About

The short-term rental industry is evolving fast, and Simon Lehmann isn’t afraid to say what others won’t.STR Global Unlocked is where property managers, STR tech founders, vacation rental investors, and hospitality leaders get real about the business. Each episode breaks down what’s working, what’s broken, and what’s coming next: property management operations, direct bookings, vacation rental software, pricing strategies, mergers and acquisitions in real estate, professional host challenges, and the future of automation, AI, and tech stacks. Hosted by Simon Lehmann, CEO of AJL Atelier and one of the most trusted voices in the global STR space, the show delivers unfiltered conversations with the people shaping the industry. Simon has decades of experience in vacation rentals, travel tech, and hospitality, including leadership roles at Vacasa Europe, PhocusWright and HomeAway. If you’re scaling a property management company, building short-term rental technology, investing in vacation rentals, or entering this fast-moving market, this podcast is your seat at the table. 

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