Frontdesk picks up short-term rental units from shuttered WanderJaunt

Frontdesk, a PhocusWire Hot25 Startup of 2022, has acquired 33 units from WanderJaunt with “potentially hundreds more in the pipeline,” according to Jesse DePinto, Frontdesk co-founder and chief product officer.

WanderJaunt was a Phoenix-based property management company that ceased operations at the end of June, according to a statement on its website. 

“We are heartbroken to announce that due to the current economic circumstances in our country which have presented unique challenges to our business, WanderJaunt had to make the impossible decision to permanently close its doors on June 30, 2022,” the statement says.

DePinto describes this as another consolidation opportunity for the sector, similar to 2020 when Frontdesk acquired 77 units across three cities from Stay Alfred, Lyric and Domio as those companies shut down or restructured.

“These were weak competitors with maybe risky business models, but what Frontdesk always finds is that there is a lot of demand,” he says.

“Consumers are continuing to utilize short term rentals for their stays, more and more even post pandemic. Our RevPAR is growing in double digits this year for example. There is consumer interest and consumer demand in these urban, well-furnished, high amenity-rich apartment rental suites. And they have a good home in the Frontdesk porfolio because they match the brand promise that we offer our loyal guests.”

DePinto says Frontdesk’s portfolio has grown by 42% in the past year, now standing at about 1,000 units in more than 30 markets. The units picked up from WanderJaunt are in Austin, Texas and Tempe and Phoenix, Arizona.

Frontdesk’s units are available to rent for any period from one night up to 12 months. DePinto says most of its customers are either business travelers who want a home-like setting or families that want the space and amenities such as a kitchen.