Airbnb launched in 2008 in a San Francisco apartment. Fast-forward 16 years and the Airbnb platform has taken the world by storm (or rather allowed travelers to take the world by storm).
In fact, the company recently celebrated its most profitable quarter ever. In Q3 2023, Airbnb generated $3.4 billion revenue, an increase of 18% compared to the same period the previous year.
As the following Airbnb statistics show, a major part of Airbnb’s success is that it has found favor among a diverse crowd. From solo female travelers in their 30s to families with young kids to pet owners, Airbnb users come from all walks of life.
There are Airbnb listings in more than 220 countries and regions. It’s also not limited to just the major cities. Airbnb reported that as of the end of 2022, 100,000 cities and towns boasted active Airbnb listings.
While Airbnb started in a San Francisco apartment and grew to become a household name in North America, it has also found approval in many other regions. North America might have accounted for the highest revenue in 2022, but Europe, the Middle East, and Africa (EMEA) had the most nights and experiences booked for that year.
Towards the end of 2023, Latin America and Asia Pacific were the two regions that enjoyed the most impressive growth when using nights and experiences booked as criteria. In fact, Korea has become one of Airbnb’s fastest growing host demographics. The number of gross nights booked in the country is up by 54% since 2019.
Looking at these numbers, there isn’t a region in the world where Airbnb isn’t popular.
Airbnb reported that as of the end of June 2023 there were more than 7 million active Airbnb listings. The online travel platform is also showing no signs of slowing down. According to company data, in Q3 2023, active listings grew by nearly 20% compared to the same period the previous year.
Interestingly enough, there are “only” four million hosts, according to the platform.
What this company data shows is that the competition is fierce. What’s more, having multiple properties listed on the platform is not uncommon.
Whether your goal is to become one of the best hosts or you simply want to maintain a decent occupancy rate to support your side hustle, you have your work cut out for you. You’ll need to look beyond just Airbnb to grow your business.
In fact, Airbnb believes that most of the new listings added in 2023 are exclusive to the platform. This means that if you adopt a multichannel approach and list on other online travel platforms like Booking.com and Vrbo, you can set yourself apart from the regular Airbnb host.
This is another reason why hosts should strongly consider investing in a solid vacation rental software solution. In addition to collecting security deposits, iGMS also helps Airbnb hosts to manage multiple accounts and listings on the major vacation rental platforms via a single interface.
Some of its other useful features include the ability to:
Towards the end of 2023, more than half (53%) of the gross nights booked were done via the Airbnb app. The previous year the majority of bookings were made via desktop and mobile web.
What hosts can learn from this is that guests are becoming increasingly more comfortable to use apps to book services. Why not suggest relevant apps that they can download to make their stay more comfortable? Perhaps there’s a grocery store that offers free delivery in the area? Maybe a local coffee shop’s branded app has a loyalty program?
These types of suggestions can make the guest’s stay more enjoyable. Finding innovative ways like this will help you to improve the overall guest experience and set yourself apart from the regular Airbnb host to become one of the best hosts.
Airbnb clearly realizes that to build on its impressive growth it needs to invest in innovative technological solutions. Over the years, they’ve gathered millions of suggestions on how it can improve its platform.
Airbnb’s own response was equally overwhelming. Two years ago, the company started to launch product releases twice a year which have added up to over 350 new features and upgrades being added to its core service.
These efforts have helped them to lower the average cleaning fee and improve search functions, among many other things. They’ve also developed new tools to help hosts price their properties more competitively.
Airbnb hosts are often concerned about renting to young guests. The general feeling is that younger guests are more inclined to throw unauthorized parties and cause property damage.
However, hosts will find reassurance in the fact that the majority of Airbnb guests are between 25 and 34 (36%) or in their late 30s/early 40s (23%). Only about 15% of guests are between 18 and 24.
If you’re still worried about possible property damage, you can charge a security deposit. If you manage your listing with API-connected software like iGMS, you can charge a security deposit using the platform’s offline fees feature. Details about the security deposit will be communicated to guests during the booking process.
According to online resources, most guests on Airbnb are women (54%). Plus, looking at other company data, this number is expected to grow.
Airbnb reported that it saw a 55% increase in 2022 in the number of UK women looking to travel internationally on their own. It’s mostly women in their 30s who are taking up solo travel, with about 33% of solo travelers falling into this gender category.
Interestingly enough, solo travel among UK women is more common among those in their late 20s than 40s. Only 19% of those in their 40s used Airbnb for a solo trip.
What’s more, solo female travelers are exploring all four corners of the world. From Sydney to Toronto, Australia, Africa, the Middle East, Europe, and Canada are among their favorite international destinations.
In the US, Australia, Ireland, South Africa, and New Zealand, there are even more female hosts. According to company data, seven out of 10 hosts self-reported as female in New Zealand.
While Airbnb is popular among younger travelers, don’t discount families. Family travel on Airbnb increased by 60% compared to pre-pandemic levels. In 2022 alone, hosts generated more than $14 billion from family bookings.
Compared to hotel rooms, Airbnb accommodation offers more space and value for money. A family can get a property with two bedrooms and two bathrooms for about half the price of one hotel room.
Airbnb rentals are also geared towards families. Almost 90% of Airbnb listings have kitchens, while over one million listings have cribs for the little ones.
The following destinations in particular are popular among families:
Pet-friendly travel is one of the major travel trends. In 2022, over 5 million pets stayed in Airbnb listings. A survey from Hilton found that over half of pet owners who participated in their study planned to take their pets along for a trip.
Not only can you boost your occupancy rate by allowing furry companions, but you can also attract longer stays and earn more rental income. Vacasa, one of the best-known vacation rental management companies, found that homes that allow dogs generate as much as 15% more rental revenue and stays that include a pet are about 14% longer.
According to Vacasa’s data, though, only about a quarter of vacation rentals are pet-friendly. So, there’s a gap in the market.
Airbnb reports that almost 25% of Airbnb hosts in the United States were also Airbnb guests at some point. This shouldn’t really come as a big surprise. Aside from the opportunity to earn an extra income, many property owners are drawn to the platform because they love to travel themselves.
So, don’t be alarmed when you host a “colleague”.
The Airbnb Categories that were booked the most at the beginning of 2023 across the globe are:
While families don’t care much for visiting iconic cities, all the other categories were the top-booked categories for this travel segment too. They might often search for a tropical climate, but they’re also open towards the idea of going skiing. So, if your destination offers “hiking up” a snowy slope, ensure to target families.
The platform suggests that hosts don’t necessarily need to fit into this category to attract guests, though. Instead you can use the overarching trend that guests want to spend time outdoors and highlight features of your listings that will bring them closer to the great outdoors, whether that’s the urban jungle or natural wonders.
For example, do you have a balcony overlooking the city’s skyline? Perhaps there are nearby local hiking trails? Highlight these types of features when you create your property listing.
According to the company’s internal data that measured the most frequently searched amenities across the globe, guests like to stay cool and connected. A pool, Wi-Fi, and air conditioning featured in the top six amenities guests searched for most often.
The reverse is also true and heating, a fireplace, or a hot tub also made it to the top 10.
The other top amenities include:
In fact, investing in a hot tub can make a significant impact on your gross revenue. According to Vacasa, it can increase your overall Airbnb revenue between 15% and 20% on average.
Hot tubs are even more “essential” for rental properties located in ski destinations or cooler coastal towns. About one out of every 10 guests search for this hot amenity in:
Increasingly more guests are booking private rooms in Melbourne and Sydney, two major cities in Australia. Other cities where guests like to book a private room instead of a house are Seoul in Korea, Warsaw in Poland and Florence in Italy.
So, if you don’t have a three-bedroom to accommodate families, you can still join the Airbnb phenomena. A private room is ideal for solo travelers. To help you feel safer, the company’s nondiscrimination policy allows you to rent to guests of the same gender if you’ll be sharing living spaces.
Much has been written about the increase in longer stays. Since 2021, travelers have started to book longer trips, one of the positive changes linked to the coronavirus pandemic.
According to numbers shared by Search Logistics, an average Airbnb guest stays 4.3 nights per booking. In 2019, the average nights per booking were only three, according to Airbnb’s Report on Travel & Living.
Hosts are often concerned when they receive a one-night booking. These booking requests are typically labeled as red flags and there’s a higher probability that guests will be using the property as their party venue. However, based on this stat, guests can rest assured that one-night bookings are in fact not the norm.
What this means, though, is that hosts have one more reason to ensure their property has a few creature comforts. If your typical guest will be staying for four nights, there are certain amenities like air con, Wi-Fi, and a decent coffee machine that will be important.
So, why do guests book an Airbnb listing over a hotel room? According to a guest survey, the vast majority use the platform for convenience and security of payment.
Other reasons for Airbnb’s popularity among guests include:
In fact, a survey completed by Sleep Foundation found that travelers sleep better at vacation rentals too. Nearly 70% of travelers get at least seven hours of sleep when staying at a vacation rental compared to just over half staying in a hotel.
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