Exploration On How Should You Plan Your Business Strategy For Vacation Rental Booking App

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Strategies to Compete with Airbnb and its Counterparts

The growth in the vacation rental industry is perhaps the most contributed by Airbnb. Be the best business strategy for vacation rental booking app, it simply cannot be matched by any hotel chain.

But Airbnb is not the only contender in the vacation rental industry and that its success goes challenged by its competitors at every step.

So, it is important to know who you are dealing with when you, the vacation rental budding businesses are striving to get a host and guest-side application developed.

There

Here we have come up with 9 competitors of Airbnb who are in the race to provide an ace service to the travels and earn money like anything for the hosts.

Tripping

 

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Tripping.com is the world’s largest search engine for vacation and short-term rental.

With millions of properties listed within it along with the destinations mentioned, it offers a widest amount of unique accommodations around the world.

The travelers can filter by location, price, and number of bedrooms, number of guests, reviews and ratings and customization of searches.

Once a perfect property is found, the travelers are redirected to the partner’s platform for finalizing the booking. When the property is listed under ‘Instabook’.

It lets the travelers compare the properties by allowing them to view all the rental options at one place while saving them a hefty amount.

FlipKey

 

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Acquired by TripAdvisor, Flipkey features millions of vacation rentals around thousands of cities in the world.

Every host and guest registered on the rental platform is verified by the Flipkey members before allowing them to list and rent respectively.

It provides precise and detailed information about the featured destinations and the popular ones.

Flipkey is the front and foremost competitor of Airbnb and provides the travelers worldwide with the local and global space for adventures, rentals, activities, etc.

Every rental is listed with a detailed information and profile about the number of beds available, bathrooms, amenities available and detailed descriptions about the space and the management of photographers, availability is shown.

For every property, the cancellation policy as well as the payment policy differs and hence it gives the host the maximum value for their listing.

For the guests, the Flipkey vacation rental favorite offers the ability to easily browse the listing by narrowing down the parameters such as low cost, family-friendly, beach, getaway, city, area, etc.

 

HomeAway

 

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It is a parent company to many of the vacation rental platforms just like Airbnb.

The profile listed profiles provide travelers with all the basics which include number of rooms, bathrooms, amenities, services, minimum stay requirement, image, property description, reviews and ratings for the rental, and so on.

It just requires the travelers to sign a rental agreement and pay from the range of 10–50% upfront in order to completely reserve the accommodation.

The guests on HomeAway let them explore from around millions of listings across the world. It also prompts the guests to inquire about the listing before hitting the ‘book’ button.

VRBO

 

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Incepted in 1995, the Vacation Rental by Owner is the pioneer in the vacation rental industry.

VRBO touts about having their members at least 127 inquiries per rental per year.

What’s more impressive is the fact that though having only half the property listing than HomeAway, it accommodates nearly the same amount of travelers on a monthly basis!

It is indifferent to Airbnb when comparing its profile listing, amenities, bathrooms, reviews, minimum stay requirements, amenities offered, etc. and cancellation policy differs for every rental.

When talking about price-wise structures, it is pretty much same as that with HomeAway. It offers both paid and free listing options which usually provide significantly less visibility to the rentals.

 

HouseTrip

 

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HouseTrip cannot be counted as a matured vacation rental when it comes to counting the time it is in the industry, but definitely it is an up and comer to bring about disruption.

Since it does not have many listings of properties, the hosts are adopting the vacation rental platform so that their visibility is not compromised. This is how it is setting its reputation and is climbing up the hills to the vacation rental platforms.

A part to Tripping.com HouseTrip lets the host and guest experience the largest vacation rentals and is one of the Europe’s leading vacation rental platform.

VayStays

 

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VayStays encircles the complete service vacation rental that mainly is operational in the US. It aims at delivering a quality and standardization to the vacation rental market.

The best thing about VayStays is it provides a 24/7 customer service in order to have a seamless vacation renting process for the hosts and the guests.

At VayStays, the hosts only pay for the booking they gain and the listing of their rental is free of cost.

Here every rental listed by the host is further verified by their staff and is professionally managed.

One more feature that makes VayStay exceptional is its policy of letting its guest’s book for the rentals almost instantly by making the payment using credit cards.

 

VacayHero

 

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VacayHero has got about thousands of rental listings all across the United States. The team at VacayHero ensures that the guests receive a home-like service. It provides accurately verified listings, calendars and prices.

VacayHero does not involve any third party while the payment is concerned because it has got its payment and booking processes on the site itself without redirecting the guests to any other site.

Also, the cleaning and service fees are paid at the time of the booking.

As it is a consumer-facing service, it only allows and lists professionally managed vacation rentals that can fully satisfy the customers.

Roomorama

 

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Roomorama is a platform with thousands of short-term rentals and accommodations worldwide. It strives to bring to its customers a well-managed holiday home, homestays and vacation rentals to provide their guests a reliable and quality accommodation.

The booking of the next accommodation is easy, secure, and instant.

With half a million visitors to the site a day, it is one of the fastest growing vacation rental platforms.

Roomorama does not cost the host any type of listing fee or processing fees/commissions in any form.

The entire commission is taken from the travelers in the form of service/processing charge.

 

Wimdu

 

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When Airbnb believes in getting a hold of global domination, Wimdu focuses more on rental market space across a specific area.

It provides the guests with a wide variety of options for short-term rentals, offering travelers an unparalleled experience for booking their preferred rental services.

 

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BUSINESS STRATEGY FOR VACATION RENTAL BOOKING APP

Let’s See Comparison between Airbnb And Other Vacation Rental Booking Prospectives

 

While there are so many sources for travelers and homeowners, may we present you the comparisons of Airbnb with the leading-edge vacation rental prospective.

 

Airbnb vs. VRBO

 

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Both Airbnb and VRBO are the two useful sources for the travelers and homeowners looking for a vacation experience for the right payout and right price tag.

At VRBO, the average home for rent is around 1,850 sq.ft. along with a backyard. This provides a plenty of space for the foreign residents, their family and pets.

At Airbnb, the listings are categorized into shared rooms, private rooms, and entire home or apartments.

The revenue model offers annual subscription, pay-per-booking, and other services.

Airbnb charges 3% from the host, processing charge from the guest, and other management service.

 

Airbnb vs. Roomorama

 

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For the travelers, there is a ‘guest fee’ for Airbnb guests which are around 6 to 12% of the total booking price. As the number of stay increases, the fee stays closer to the minimum limit.

For Roomorama travelers, there is a ‘Roomorama fee’ which is slightly expensive than that price per night and sometimes the price is less than 50% of the cost of per night stay.

Moreover, under the host guarantee and host protection insurance, the hosts belongings are covered up to $1,000,000 in case of any harm during the guest stay.

Also, if a guest is injured during the stay at any Airbnb property, the hosts and the landlords have the protection of $1M.

Roomorama does not provide insurance for the hosts and the guests. In the lieu, the company encourages the hosts to enforce a security deposit in account of any property damaged during the stay.

 

Airbnb vs. Wimdu

 

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Both the Airbnb and Wimdu are popular choices, since they do not charge any host fees i.e. listing a rental on Airbnb and Wimdu is 100% free.

Airbnb guests pay 6 to 12% every time they book a rental. Here the percentage charge is decreased if more nights are increased.

The travelers booking rental on Wimdu pay a flat 12% booking fee based on the price of listing.

Airbnb has two insurance policy according to which the belonging and rental of the host is covered up to $1,000,000.

Also, if the guests suffer from any injury, they receive $1 M during their stay at Airbnb.

While Wimdu hosts and guests are covered by the 100% free insurance policy.

 

Airbnb vs. HomeAway

 

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HomeAway charges 13% from the hosts and no processing charge is taken from the guests.

Airbnb charges 3% from the hosts per booking and 6 to 12 % from the guests.

When leaving a review on Airbnb, a guest has up to 48 hours to edit their review before making it live. Once the review is live, both the hosts and the guests have up to 2 weeks to leave a public response to a review they have received.

The guests at HomeAway can post their reviews up to one year after their stay.

The guests will be prompted to login to the site to verify their stay.

HomeAway then sends an email immediately after the review has been posted.

 

The Crux Of The Story

 

The vacation rental industry and especially Airbnb has gone through a major overhaul in recent years since there is no need to go through the lengthy reservation process.

Setting up an online vacation rental business is not an easy task in today’s cut-throat era of competition. The success rate of Airbnb can be accredited to the fact that they went through a lot of strategic decisions and this impacted their business in the best possible way.

Such consistent revision on the strategies will keep you in the long run.

Rest if you are planning to launch one, you can learn about Airbnb analysis and market needs which can help you in kick starting your own rental business in no time.

Still can’t figure out the best way if Airbnb like business is the one for you?

LET’S DISCUSS

 

More About Author

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Vishal Nakum

Vishal Nakum is a tech enthusiast with a passion for exploring the latest developments in the world of technology. He has a keen interest in emerging technologies such as Artificial Intelligence, Machine Learning, and Blockchain, and enjoys keeping up-to-date with the latest trends and advancements in these fields. Vishal is an avid learner and is always on the lookout for new ways to expand his knowledge and skills. He is also a creative thinker and enjoys experimenting with new ideas and concepts. In his free time, Vishal enjoys playing video games and reading books on technology and science.