The leader of the lodging industry is undoubtedly Airbnb, making the difference, and offering someone else’s home for a short-term rental instead of a hotel. Airbnb is the mediator between the people who are searching for a place to rent and the ones who want to rent extra space. Airbnb has succeeded in reshaping the industry and becoming an important part of the “sharing economy”. It is in fact the channel for any short-term rental or vacation rental and usually the channel which brings in the most bookings. The company was founded in San Francisco, California in 2008 and transformed the market by focusing on urban listings, shared spaces, user reviews, and user experience.
Targeting: Airbnb is oriented towards people who are looking for an affordable and more home-like place to stay in lieu of a hotel. The majority of Airbnb guests are budget-minded travelers and proficient in computers. Airbnb’s most important targeting groups are the millennials and generation Z. Airbnb targets guests from all over the world with listings in more than 220 countries and regions.
- Founded: 2008 (USA)
- Properties: 6 million+
- Commission: 13-14,2% (guest) / 3% (host)
- Payments: Channel collects payments
- How to register: https://www.hosthub.com/guides/how-to-create-a-listing-on-airbnb/
Pros
- Most dynamic online travel agency for vacation rentals worldwide
- Easy and simple to use
- Both direct and requests for bookings
- Small commission for hosts
- Airbnb shares went public on December 9th, 2021 at $68 per share on IPO. The home-sharing network sold 51,551,723 Class A shares which imply a market cap of $47 billion.
- Continuous development with the release of 100+ innovations and upgrades in all their services in 2020 alone.
- It provides a property damage protection program
Cons
- In case of disputes, Airbnb usually sides with the guests.
- Very strict with hosts in terms of compliance with the rules
- Not good customer service -hard to reach and communicate-
- Hosts don’t know how much guests paid for their property
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