EP137: How Two Brits Rode the Short Rent Revolution and Lived to Tell the Tale
Summary
This podcast episode discusses the rise of short-term rentals, market trends, and how to respond to negative reviews. Hosts can learn from the experiences of others, the importance of reviews, and how to use them to their advantage.
Key Insights
- •TripAdvisor survey indicates enormous growth in users interested in booking short-term vacation rentals: 52% in 2014 and 70% in 2016.
- •Beyond Pricing CEO Ian McHenry predicts that Airbnb-style vacation rentals will account for 20% of bookings worldwide by 2018.
- •TripAdvisor survey indicates that 72% will not consider booking a listing without a review.
Action Items
- ✓Be polite and thank the guest for their feedback when responding to negative reviews. Explain the improvements you have made.Effort: lowImpact: medium
Tools & Resources
- →Room for Profit: Make Airbnb and the Short Rent Revolution Work for You: Room for Profit: Make Airbnb and the Short Rent Revolution Work for You by Tristan Rutherford and Gayle Roberts.
- →The Upstarts: How Uber, Airbnb, and the Killer Companies of the New Silicon Valley are Changing the World: The Upstarts: How Uber, Airbnb, and the Killer Companies of the New Silicon Valley are Changing the World by Brad Stone
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