Vacation rentals platform Roomorama has halted all bookings and will likely close down.
Established in 2009, Singapore based Roomorama once had ambitions to rival Airbnb but says it has been under pressure from ‘increasing competition and regulatory headwinds,’ according to a message posted on its website.
All current bookings would be honoured but will not accept any new bookings, ‘while we decide our future from here.’
In 2012 it received more than $2 million in funding and merged operations with rentals platform Lofty, which brought on board a large portfolio of rentals in Europe and the US to complement Rommorama’s mostly Asia inventory.
Before ceasing operations Roomerama said it had about 80,000 listings.
