EP155: Airbnb vs. HomeAway and VRBO
Summary
This article discusses the differences between Airbnb, HomeAway/VRBO, and Booking.com, including pricing structures, user experience, and the advantages and disadvantages of listing on multiple platforms. Hosts should consider diversifying their listings to increase occupancy but must also manage calendars carefully to avoid double bookings. Additionally, the article highlights the benefits of creating a dedicated vacation rental website.
Key Insights
- •HomeAway/VRBO is more profitable than Airbnb if a property is located in a popular tourist destination.
- •Airbnb has more listings (3 million) compared to HomeAway (1.2 million).
- •Airbnb charges a 3% fee for each reservation, while HomeAway uses a flat-rate pricing model.
Action Items
- ✓Consider creating your own vacation rental website.Effort: mediumImpact: medium
- ✓Update and sync calendars on each platform to avoid double bookings if listing on multiple platforms.Effort: lowImpact: medium
Tools & Resources
- →VRBO: The episode mentions VRBO.
- →Booking.com: The episode mentions Booking.com.
- →HomeAway: The episode mentions HomeAway, VRBO, Booking.com, and Hostfully.
- →Hostfully.com: The episode mentions Hostfully.com.(hostfully.com)
Common Mistakes
- ⚠Failing to sync calendars across platforms can lead to double bookings and guest dissatisfaction.
More from Growth & Marketing
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This article discusses the emergence of a new platform designed as an 'Airbnb' for hourly creative spaces. It aims to solve the difficulties creators face when finding and renting spaces. While not directly about STRs, it highlights a potential niche market that could be applicable to hosts considering offering hourly space rentals, indicating a shift towards accommodating creative industries.
Airbnb is offering a $750 incentive to attract new hosts to list their properties for the World Cup. This move aims to ensure sufficient accommodation for visitors during the event. This initiative highlights the importance of short-term rentals in accommodating large-scale events and provides a financial benefit for new hosts.
Curated by Learn STR by GoStudioM