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ThirdHome
Company typePrivate
Industry
Founded2010 in Brentwood, Tennessee, USA
Headquarters
Brentwood, Tennessee
Area served
Worldwide
Key people
Number of employees
29 (2017)
Websitethirdhome.com

ThirdHome is a luxury second house sharing service of vacation homes. The company is based in Brentwood, Tennessee and operates worldwide.

History

ThirdHome is the result of the merger of the US-based company 3rd Home (founded by real estate executive Wade Shealy) and the UK- based company Utopia Exchange (founded by marketing specialist Giles Adams) in 2010[1][2][3], with an initial portfolio of 120 properties[4].

In 2014, the company had around 2400 properties to exchange in 70 countries.[5] By 2017, the site had about 8,000 properties[6].

In 2017, ThirdHome ran a worldwide contest called The Best Job on the Planet, to hire a person to travel through different luxury residences in the world and share his living through different platforms[7][8][9]. It was inspired by The Best Job in the World campaign, and ThirdHome collaborated with the winner of the campaign for the development of the competition.[10][11]

Business model

ThirdHome is considered a home exchange. Owners of luxury second homes apply online; if they meet certain requirements - location, characteristics of the house, home value - they become eligible for membership. Each owner lists which weeks his/her house will be available for the use of other members.[12]

When someone is staying at their house, the owner receives credits, called keys, used to reserve weeks at any property that is available on the system[13], or for stays in clubs and resorts affiliated with the company[14]. The site charges a one-time enrollment fee and a variable fee per exchange[15].

References

  1. ^ Hopkins, Kathryn. "If you've got a luxury house standing empty, join the club". Retrieved 2017-06-23.
  2. ^ Kerr, Elizabeth. "Three Times Lucky" (PDF). Squarefoot Magazine. {{cite news}}: Cite has empty unknown parameter: |dead-url= (help)
  3. ^ Bonislawski, Adam (2017-02-22). "How the one percent vacations". New York Post. Retrieved 2017-06-23.
  4. ^ Lewis, Carol. "How to join the global hideaway swap club". Retrieved 2017-06-23. 3rd Home has grown rapidly from 120 properties in 2010 (...) {{cite news}}: Cite has empty unknown parameter: |dead-url= (help)
  5. ^ Lacey, Hester. "House Swapping and Rentals: Luxury Begins At Home". www.billionaire.com. Retrieved 2017-06-23. by 2014 the company had around 3,000 properties in 70 countries on its books; worth an average of US$2.3 million dollars, making up a total portfolio worth US$5.7 billion. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  6. ^ Bonislawski, Adam (2017-02-22). "How the one percent vacations". New York Post. Retrieved 2017-06-23. The company's inventory includes around 8,000 properties in 80-plus countries, with an average home value of around $2.2 million. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  7. ^ "Get Paid to Travel the World and Stay in Luxury Homes". Travel + Leisure. Retrieved 2017-06-23.
  8. ^ "World's best job? Company will pay you $10,000 a month to travel the globe in luxury". Fox News. 2017-03-29. Retrieved 2017-06-23.
  9. ^ "Best Job on the Planet". THIRDHOME. Retrieved 2017-06-23. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  10. ^ "Wanted: Someone to travel in luxury around world - for £8,000 a month". The Telegraph. Retrieved 2017-06-26.
  11. ^ "The truth about the 'best job in the world', according to the man who first won it". The Independent. 2017-03-31. Retrieved 2017-06-26.
  12. ^ Krueger, Alyson. "Inside 3RD HOME: The Airbnb For Millionaires and Billionaires". Forbes. Retrieved 2017-06-23.
  13. ^ "How to Make Money From Your Second Home Without Lifting a Finger". Bloomberg.com. 2016-10-03. Retrieved 2017-06-23. . {{cite news}}: Cite has empty unknown parameter: |dead-url= (help)
  14. ^ "Sponsor Affiliates | THIRDHOME Luxury Home Exchange Club". www.thirdhome.com. Retrieved 2017-06-23.
  15. ^ Patnaude, Art (2014-09-04). "Mansion Swap: Luxury Vacationers Are Trading Places". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-06-23.
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