There are some key differences between a Real Estate Investment Trust (REIT) and a Here vacation rental.
Investing in a REIT offers pre-selected exposure to a basket of various real estate assets. With Here, investors are able to select individual properties to invest in and build their own portfolio of vacation rental properties.
Additionally, Here vacation rentals are not taxed the same as a REIT. This is because the management of vacation rentals is considered "active income" rather than "passive income" which applies to long-term rentals. For this reason, vacation rentals are not able to be taxed as a REIT.
This should not be taken as tax advice. Please consult your tax advisor for questions and investment advice.