Accommodations account for 40% of the global travel industry, bringing in a jaw-dropping $675B in 2018. And according to a recent report by Cleveland Research Company, accommodations also happen to represent the largest, fastest growing, and most profitable segment of the online travel market. So, how much of that $675B is credited to Airbnb and other short-term rental opportunities?
Margot Schmorak is the cofounder and CEO of Hostfully, the SaaS company that helps short-term rental hosts save time, make more money and deliver a five-star experience by way of beautiful, personalized guidebooks for guests. Today, she joins me to discuss the Cleveland Research Company’s latest report on the global accommodations market, comparing the numbers for traditional vacation rentals and the sharing economy as well as the growth rates for each type of booking.
Margot and I go on to cover the EU controversy around short-term rental transparency, explaining how Airbnb listings there are required to show the real price, fees included, from the start. Listen in for insight around Airbnb’s increase in Instant Book listings, the site’s new search tools for business travelers, and the recent launch of Airbnb Adventures.
- Global accommodations market = $675B
- Vacation rentals 17%, sharing economy 6%
- Sharing economy growing at 30-40%
- Airbnb double revenue of Booking.com (same # of listings)
- All listings on Booking.com book instantly
- VRBO/HomeAway 63%, Airbnb 70%
- Airbnb hosts screen after booking made
- 12-week Around the World in 80 Days sold out
- Complexity makes difficult to scale, manage
- Required to show real price from start (with fees)
- Like to see worldwide implementation
- Work trip filter under stay type
- Listings highly rated by business travelers
Connect with Margot
Article #1 Article #2 Article #3 Airbnb Adventures Article #4 Delta|Airbnb ANA|Airbnb Qantas|Airbnb Inspirato Article #5 Article #6 Airbnb for Work GPFYP Facebook Group Zapier Rezfest 2019 VRMA International Conference