What Experts Think About The Bright Future of Vacation Rental Booking App Model?

Expansion Lessons to Learn for vacation rental booking app model

It is really a daunting task to predict the future of any industry, especially when the company is quite new, just like Airbnb – A neoteric yet prolific business model.

Airbnb, since its inception, has started growing tremendously and has already started disrupting the hotel industry.

With twice the evaluation as Hyatt and nearly equal evaluation as that of Mariott, Airbnb has got more listings and accommodations than any chain combined across the world.

Wait!!!

Listen to here’s what the Airbnb’s US based product chief Joe Zadeh said about Airbnb’s future when asked about the same by the Australian Financial Review.

Joe Zadeh, Airbnb Product Chief, US

“We see ourselves as moving into offering the entire trip, from where you stay, to what you do, and even how you get there.We want to design an end-to-end experience for a traveler.”

There’s still more to it – Airbnb has started giving subtle hints and cues by exhibiting its camouflaged intention to move beyond accommodation to owning and providing the complete travel experience, in a move that will be shaken up the existing travel companies with its spectra of expansion.

This new vacation rental booking app model might let the people offer services beyond just stay and might get involved into where the guest stays, what they do, and who they meet and see.

This is how Airbnb is striving to become a kind of travel agent, connecting travelers with not just hosts but also local activity guides.

Hotels Would Be Affected By New Vacation Rental Booking App Model

Airbnb today provides high-quality listing at reasonable prices which will disrupt the hotel industry.

In this case, the hoteliers will have to fight harder in order to attract more guests and may become highly reliant on other events such as board room meetings, banquet halls, wedding functions, etc.

The hoteliers will have to emphasis more on their offerings and services. The reviews and ratings would be more strict for the hotel services by the centralized hotel booking platforms.

In order to compete fiercely with Airbnb, hoteliers will have to either lower down their prices or will have to increase the quality of their service.

Effect on Airbnb Listing

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With the increase in the popularity of Airbnb, it will accommodate more people on board and following to the trends, more people will decide to list their spaces on Airbnb, the guests will experience the effects of the lack of quality control.

Not all the Airbnb listings are unique and amazing. Some of the listings are completely filthy and disappointing. That is why, the review system is more important than ever, and cannot be understated.

A rating will have a great impact on the listing.

Traveling Companies Have To Worry Of Latest Vacation Rental Booking App Model

Airbnb is today restricted to just listings, but in future it is going to expand by offering the bookings for the flights, cruises, trips, and other modes of transportation.

Other than that, Airbnb can choose to aim for the sky and list out choppers, parachutes, etc. for a personalized experience to the customers.

vacation rental booking app model might expand the platform in such a way that the travelers can plan their entire trip from the platform itself.

They can choose to book the flights from their current location to their destination, where the accommodation is waiting for them. Apart from this, they can even make bookings from the platform for the experiences, local feasts, cuisines, etc.

Effect of Traveling Portal on Airbnb Platform

With the expansion of Airbnb into a niche other than accommodation, there will be listings in the form of flights, trains, buses, cars, cabs, and thus, many stakeholders.

This managing of multiple types of stakeholders together on a platform would be a demanding task.

Thus, a separate stakeholder application will be required to manage the platform efficiently. Same applies for the registration – the registration, login, and signups will have to be different when all these offerings will be incorporated.

Unexplored Locales Needs To Be Target

If you have closely had a look at Airbnb’s existing location, you will see that all the listings that Airbnb offers are predominantly urban and so Airbnb can be seen exploring other unexplored vacation destinations.

The places where popular vacation rental booking app model hasn’t set up the business yet, it can connect the hosts with the guests and can expand the listings in that particular area as well.

Airbnb can be seen offering cruises and accommodations within.

Effect of Different locations on Airbnb

Currently, Airbnb is operational in 190+ countries and 65,000+ cities. If Airbnb chooses to explore more places for business, it will eventually get on-board more hosts and listings.

There will be more listings to handle and so the database of the platform has to be powerful enough to process the listings within a short period of time along with high quality of listing pictures, amenities, and information.

There Will Be New Horizons For Business Relationships

When sending the employees offshore, the business will need to have accommodations and will generally exceed the time duration of a week. In such cases, the businesses would want to tie up with Airbnb and can avail discounts for the stay.

This way a new partnership can be incepted between them in order to open new horizons of business relationships.

Effect of Business Trip on Airbnb

Today, Airbnb is becoming a popular choice for the business trips.

Since, the span of a business trip usually exceeds a week, or a month, Airbnb might come up with a designated plan for the business trips and can have separate accommodations to facilitate the long business trip durations.

How Do Users React With Vacation Rental Booking App Model

The users on Airbnb are mostly spread across the wide age group of people.

The travelers are mostly the people with the age group of 20–40 years but the hosts are the people with varied age group.

Thus, it is difficult to target a specific type of users. Apart from this, when Airbnb will decide to add more offerings, experiences, and attractions, it will become really difficult for to gauge the specific type of audience for the service and so studying the user behavior will become very important.

Effects on the Demographics

When the statistics about the involvement of the host were speculated there came a shocking revelation.

Seniors are proving to be large and efficient demographics on Airbnb.

The fastest growing host demographic for Airbnb are people with the age of 60 and above.

The seniors can make up good hosts because they are the retired and can spare time hosting qualitatively.

The Winning Game for Airbnb

The basic essence of Airbnb is trust, which it has always strives to maintain with its end users.

After all, the only businesses that survive through the storms of competition are the ones with the spines of trust.

Airbnb worked in the direction by democratizing the virtue of trust — any person can act like a brand.

The main reason why Airbnb is different to the traditional businesses is because it doesn’t require any resource other than the host’s listing and guest’s interest.

The Disruption Debate

The major disruption that Airbnb has caused today is to the Hotel Industries. While offering the same or in cases, better home-like services than hotels at affordable prices is a concept worth appreciating.

But when it will come to traveling, the rental model will change for some of the services. Such as flights, buses, trains cannot be listed and API’s will be required from the dedicated platforms.

Today, Airbnb became the most accepted as a form of accommodation and the listings are exponentially increasing along with the ratio of the bookings per user.

There are cleaning, data analytics, and management services being integrated making it simpler for the host.

These services will make hosting simpler, thus creating more hosts.

Thus, Airbnb’s hospitality industry transformation is following three golden rules of innovation –

1) businesses should consider innovation which doesn’t happen without overshadowing the need,

2) innovators address a human need that is left without being met, and

3) establishing a dedicated platform to meet the demand.

So, while Airbnb is way too ahead to reach the pinnacles of the ongoing rental services and platforms, my question is when are you going to get ahead in the race while these Airbnb for X have already made the pace?

Still cannot figure out the road map to developing the best mobile and web application?