BOOSTYLY SHORT-TERM RENTAL DOCUMENTARY COMING SOON (Ep 604
Summary
This article discusses market trends in the short-term rental space, specifically highlighting Google's increasing presence with Google Vacation Rentals and the rise of direct bookings. It also emphasizes the importance of a diverse marketing strategy and leveraging various channels to reach potential guests in an evolving market.
Key Insights
- •Google is aggressively entering the short-term rental market with Google Vacation Rentals, with potential for substantial growth in 2024.
- •The travel landscape is becoming increasingly diversified, with an emergence of smaller, niche-focused OTAs (Online Travel Agencies).
- •Airbnb and Expedia are still experiencing record revenue growth but are targeting specific geographical regions for future expansion.
Action Items
- ✓Ensure your PMS (Property Management System) is connected to as many channels as possible, or consider using a channel manager to increase visibility on different platforms.Effort: mediumImpact: high
- ✓Hosts should have a diverse marketing strategy, including direct bookings, to reach potential guests and combat oversaturation.Effort: mediumImpact: high
Tools & Resources
- →Rentals United: The article also mentions Rentals United as a channel manager.
- →Hostfully: The article mentions that Host Fully is integrated with Google Vacation Rentals.
More from Growth & Marketing
Airbnb is launching a new host bonus as travel demand surges for the upcoming World Cup. This strategic move aims to encourage more listings and capitalize on the expected influx of guests. The initiative highlights Airbnb's efforts to prepare for peak season travel and its ongoing support for hosts.
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