Marriott launches home-rental program

Marriott International on Monday debuted a home-rental trial program with U.K.-based Hostmaker.

Marriott launched the six-month program under an initiative called Tribute Portfolio Homes, in reference to its Tribute Portfolio soft brand. Marriott introduced the program with 212 London-area homes, which are accessible through both the TributePortfolioHomes.com website and through a link on Marriott's home page.

Rental prices range from $144 for a one-bedroom in a "charming, open plan duplex" in West Hampstead/Kilburn to $923 for a five-bedroom "modern oasis of style with garden" in Maida Vale. Marriott loyalty members can earn points on such bookings and in May will be able to redeem stays with accumulated points.

"The short-term rental industry faces two fundamental issues: products with little quality or brand assurance and a lack of truly professional property management that ensures rentals have been vetted to meet specific standards and comply with local laws," Marriott spokeswoman Connie Kim said in a statement. "Marriott International will work with Hostmaker to carefully select each property based on exacting design standards. In addition, Hostmaker ensures that the property complies with relevant short-term rental laws in London, including nightly limits and collection of applicable taxes."

Kim added that all of the homes will have at least one bedroom, and will include both a full kitchen and in-unit laundry facilities.

Marriott will offer full refunds for bookings that are cancelled within 48 hours of booking and 30 days before the check-in date, and a 50% refund for bookings that are cancelled between 7 and 29 days prior to check-in. There will be no refunds for cancellations less than a week before scheduled arrival.

Other large hotel companies have invested in the home rental business. In the past two years, AccorHotels has acquired Onefinestay, Squarebreak and Travel Keys. Last month, Hyatt reached an agreement with serviced-home provider Oasis in which World of Hyatt loyalty members could both earn and redeem points on Oasis stays.