With Arlington County's new Airbnb regulations going into effect last Saturday, it should come as no surprise that the local real estate industry is looking for its own way to capitalize on home-sharing.
That's where WhyHotel comes in. Jason Fudin, director of strategic projects at Vornado Realty Trust, saw potential in having guests stay in empty apartments in Vornado's newly built apartments at The Bartlett in Pentagon City. So he set up a pilot program to convert 50 of the building's units into hotel rooms while they wait to be leased by new renters.
While the program is in pilot, bookings are running from Jan. 13 to March 31, for now. Vornado is allowed to use 168 of its units for the pop-up hotel, which makes it possible for empty apartments to still be available to new renters. This way, if one of the 50 apartments are rented out, Vornado can easily convert one of the other empty units into a hotel room.
The innovative home-sharing idea shouldn't come as a surprise for Vornado, the commercial real estate giant that owns swaths of property across the DMV, including the building that houses 1776's Crystal City office space and the nearby WeWork/WeLive. "We work with all of these innovative partners to look within ourselves and see how we can innovate," Fudin told DC Inno.
Available units range from 1-to-3 bedroom apartments, with prices from $179-$329 per night. All units are pet-friendly. Fudin said the units are almost at capacity for the Inauguration on Jan. 20 and the nights surrounding it. Airbnb predicted that about 10,000 guests would come to the District alone through the startup's service for that weekend for an average price of $125 per night.
"It plays well into our launch because we’ve seen a different kind of guest than the hotels do," Fudin said. "We are seeing people book for the 10 days leading up to the Inauguration, and that means if you’re a guest coming here for the Inauguration, and you're here for before and during the Inauguration, you’d rather stay in an apartment than in a hotel."
Fudin said he thinks he's found a good compromise for people who like the community feel that comes with home-sharing but also want the quality assurance that comes with hotel stays. Vornado has front desk guest services available at normal hours, and guests stay in the same building as long-term renters.
"When you’re part of WhyHotel, you’re a part of an existing community," he said. "Unlike a hotel, you get to join a community for your stay."
Take a look at how WhyHotel works here:
Image courtesy of WhyHotel
