Airbnb is the leading residential real-estate-rental service platform. It is a perfect example of a peer-to-peer marketplace that offers accommodation and rental services to users all over the world. Any budding entrepreneur will set his eye to create a marketplace like Airbnb.
In this article, we will let you understand more about the Airbnb platform and the reasons behind its success. You will study its key features and will learn how to develop a website like Airbnb. First, let us get into some interesting facts about Airbnb.
Inspiring facts about Airbnb
- Airbnb holds more than 6 million active listings on its platform as of 2022. This was just 300 listings in 2013.
- The platform has more than 4 million hosts as of 2022.
- Airbnb has witnessed a 78% increase in revenue from 2020 to 2021 which was $1.5 billion.
- Airbnb is providing real-estate-rental services in around 220 countries and has 1 billion guest arrivals.
- Each host in Airbnb would earn $7900/year on average.
- 33% of users have admitted that they prefer Airbnb for the authentic experience they have gained.
These facts are quite inspiring to make a firm decision on creating a website like Airbnb. Having a website like Airbnb will get you better returns and you have a promising future with your platform. Now let us understand how the platform works.
How does Airbnb work?
- Property owners get registered with the Airbnb platform and will upload their properties with complete descriptions.
- Guests enter the platform and will search for property listings.
- The platform will filter the listings and will post the relevant properties that meet guests’ requirements.
- Guests will check properties, compare their pricing, and will call the concerned property owner to get more details about the property.Once the guest is clear about the property, will book accommodation.
- The host has the right to accept or reject the booking made by the guest.
- If the host accepts the booking, the guest will pay through the platform.
- The platform can take the commission amount from the payment and will transfer the rest to the concerned property owner.
Thus, the working pattern is quite simple and easy. It may sound common and most leading vacation rental platforms follow the same order but still Airbnb managed to reach the top place in the market. There are reasons behind its success in the market. Let us identify those key factors that will be helpful while building a website like Airbnb.
Why is Airbnb so popular in the online rental industry?
Although Airbnb had a very common method of running the rental business, it managed to take a new direction in approaching its audience. We need to know more about the steps that Airbnb took to be successful among fierce competition.
Importance to user experience – The official website of Airbnb was initially not so impressive. Soon after the team worked on user experience, the company started witnessing a positive growth.
Provide intimate environment – Users get to feel the intimate environment as each employee gives input on website upgradation that offers more creativity to the platform.
User-friendly interface – Users haven’t felt bored staying on the platform for a long time. They find it more interesting and user-friendly.
Large-scale adoption – A wide range of product listings is another key reason for the success of the platform. The company supports more than 6 million listings offering more options to guests.
If you are thinking about how to build a website like Airbnb, then you need to consider all the success-focusing factors that will make your platform successful too. Another essential and crucial aspect you need to study is the features Airbnb offers.
Key features of Airbnb that make it unique from other rental platforms
The platform focuses on hosts and guests separately and has developed exclusive features for both user groups. Let us check out the features for hosts, guests, and also for the admin panel.
