Inside the Airbnb-Backed Travel Startup Lyric

Lyric designs and manages accommodations for business travelers, offering flexible stays with digital access and seamless experiences. They have received investments from Airbnb and other real estate partners, aiming to expand their inventory and technology stack. Lyric is compared to WeWork in redefining space, focusing on individual suites rather than shared workspaces. The company plans to grow with the support of its partners, focusing on technology and design innovations.

What is the primary focus of Lyric's business model?

• Developing shared workspaces

• Competing directly with Airbnb

• Offering flexible and experience-rich spaces for business travelers

• Providing luxury hotel services

How does Lyric differentiate itself from traditional hotels?

• By providing digital access and seamless entry

• By offering free meals

• By offering 24/7 concierge services

• By having larger rooms

How does Lyric view its relationship with Airbnb?

• As a subsidiary of Airbnb

• As an independent hotel chain

• As a partner and operator selling inventory on Airbnb

• As a direct competitor

Who are some of the key investors in Lyric?

• Only real estate investors

• Only Airbnb

• Airbnb and several real estate investors

• Lyric is self-funded

What are Lyric's plans for future growth?

• To merge with a larger hotel chain

• To reduce the number of suites

• To expand inventory and invest in technology

• To focus solely on shared workspaces