9/22/2023 0 Comments Airbnb business![]() ![]() Hosts too can choose who to rent out their space to. Personal profiles and rating/reviewing systems help travelers make an informed decision about the hosts and what is on offer. As a platform, it also enables travelers to connect with local hosts and book home-stays instead of expensive hotels, saving them money and letting them “live like a local”. People can list their available space on the platform and earn extra money from what they get as rent for their properties. This enables it to grow incredibly fast at zero marginal cost. Airbnb’s key resources are people and therefore does not have to do any of that. ![]() The traditional hotel businesses have to invest millions in building and maintaining their properties. It does not have a linear business model like the traditional hotel chains such as Marriott, Hilton etc. It is headquartered in San Francisco, California, USA.Īirbnb utilises a Aggregator Business Model, like Uber or the Indian company Oyo Rooms. The company was valued at $31 billion in March 2017 and the personal fortunes of its three founders, Nathan Blecharczyk, Joe Gebbia and Brian Chesky were an astounding $1 billion each. In 2012, it overtook Hilton Hotels in number of nights booked. Airbnb sees 140000+ people staying at its home-stays every day. The company has 1.5 million listings and has served more than 35 million guests till date. Today, Airbnb is present in 34,000+ cities across 190+ countries. The click rates improved too as the images of the rented space kept getting better. As more and more people started pouring in, they refined the website with money they earned from selling cereal boxes during the 2008 presidential campaign. ![]() They had built a simple website with a map offering mattresses and home-made breakfast. What started as a problem for their founders when they could not pay rent, snowballed into this massive venture. Airbnb is a community based two-sided online marketplace that helps connect travelers with local hosts. ![]()
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