LOS ANGELES, March 2, 2015 (GLOBE NEWSWIRE) -- Pillow Homes, a technology-driven hospitality company for short-term rentals, is growing in Los Angeles to increase their coverage of the city's most popular visitor areas for short-term home rentals.
Pillow, which launched earlier this year, is pioneering on-demand property management, making it effortless to "host" and maximize income on platforms like Airbnb, VRBO and Homeaway.
The hospitality company now operates in Beverly Hills, Santa Monica, Marina del Rey, Downtown LA, West Hollywood, Hollywood, Venice Beach, Culver City and Playa del Rey.
Pillow offers homeowners two ways to earn income from their homes. The standard Pay-Per-Booking option means homeowners pay a fee of 15% of their rental income for Pillow's management services, roughly half the price of most competitors which routinely charge anywhere from 25-40% fee. Pay-Per-Booking offers homeowners more calendar flexibility.
Pillow is introducing a Fixed-Income Guarantee model also, the first of its kind in the industry, which locks in a pre-determined monthly rental income for homeowners. Using 85 criteria including location, number of bedrooms, and amenities, Pillow is accurately able to predict both occupancy and daily pricing. This technology means Pillow's homeowners can rest assured knowing their rental income is secured each month, whether it rents or not.
Pillow's fixed income plan guarantees homeowners monthly payments that more than cover most mortgages, or can finance a vacation while away. In Santa Monica, for example, Pillow's income guarantees average $7,581 per month to homeowners for a 2-bedroom, 2-bath home.
In Venice Beach, the equivalent home earns a guaranteed $6,268 monthly. Similar homes in Beverly Hills, West Hollywood and Downtown LA draw monthly incomes averaging $5,433, $4,814 and $4,468, respectively.
"We're bringing the predictability and consistency of the hotel world to the unique and heart-felt individuality of home-rentals," said Pillow CEO Sean Conway. "We're here to make home rental hassle-free and profitable for every homeowner."
For guests, every Pillow home comes with standardized amenities, hospitality touches, and 24/7 guest support to ensure a reliable and enjoyable stay. Pillow's service is increasing the supply of high-quality, short-term rental properties -- for corporate or vacation needs -- that offer both excellent hospitality standards and the unique and local experience that comes from staying in a home.
Pillow's online services include a proprietary pricing algorithm and booking engine, listing optimization and marketing, and customer service before, during, and after guests' stay. Local services include house cleaning and preparation, guest support, key exchange, maintenance and repairs.
Pillow currently operates in San Francisco and the Bay Area, Sonoma, Napa Valley and Los Angeles. The company is planning major market US expansion and expects to open in 10 US cities within the next year.
Pillow's management team includes CEO and Co-Founder Sean Conway and President and Co-Founder Justin Miller, who together previously founded Notehall which was sold to Chegg in June 2011.
Based in San Francisco, Pillow is a next-generation hospitality company helping homeowners maximize their short-term rental income by creating great guest experiences, without the time and effort required to personally host guests. For more information, please visit www.pillowhomes.com.
CONTACT: Media Contact: Gareth Edmondson-Jones (917) 399-9355Source:Pillow Homes