I’m not sure how many people in multifamily housing pay close attention to the hospitality industry. Partly because I grew up in travel and hospitality and partly because it’s maybe the closest cousin to housing rentals, I’ve always kept an eye on developments in that world.

Last week, I saw an announcement that could be a doozy. Marriott, the world’s largest hotelier has partnered with Hostmaker, a London-based homestay property management company, for a six-month trial of Tribute Portfolio Homes.

In what can only be described as a “If you can’t beat them, join them” response to AirBnB, Arne M. Sorenson, president & CEO of Marriott International Inc., explains, “We have now figured out that we can run this business in a way that does fully comply with law. It will include payment of lodging taxes so that it’s a level playing field with the hotel business. It will very much include complying with local regulatory requirements on the number of nights that homes can be [rented] in this way.”

I’ve been on the record for more than two years saying short-term rentals (STRs) represent a new demand stream that can increase revenue for multifamily housing. Yes, there are regulatory, liability and operational issues to work out; however, there are regulatory, liability and operating issues for our core business as well as other ancillary revenues. To me, it’s always been more of a question of “when” not “if” our industry will embrace the opportunity.

While Marriott’s move is “only” a test, it’s portends a tectonic shift in the presence and acceptance of STRs as a normal part of the real estate business operating model. I think senior executives, even ones who have been very reticent (some even completely hostile) to the idea, need to ask themselves, “If the CEO of Marriott is serious about this, what should I be doing to think about how to leverage the opportunities it presents?”

It’s clear STRs aren’t going away, so all of us should ask ourselves whether we want to join them or keep failing to beat them.

[Disclosure note: I am an advisor to Pillow Homes. I am not being compensated for this post, and my advocacy of embracing STRs long pre-dates that relationship]