In 2023, Airbnb had 7.7 million active listings and 5 million hosts all over the world. Also, the number of active listings increased by 18 % more than the previous year! All this shows a rising demand for vacation rentals. So inherently, Airbnb-like vacation rentals turned out to be a tough competitor to traditional hotels now.
Let us see how Airbnb-like vacation rentals succeed over the hotel industry in this blog.
Diverse accommodations for travelers:
In hotels, travelers have to stay in between the concrete walls. Though the hotels give more amenities, the travelers get bored by this traditional way of hotel accommodation. These wearisome travelers expect something new in the vacation rentals. Airbnb-like vacation rentals discover and utilize this niche market marvelously. Vacation rentals captured the rental market by simply offering diverse places to stay. Like villas, farm stays, tree houses, and historical buildings. Surprisingly, a Private Jet Villa is also there on the airbnb! This variety of places to stay attracts more guests towards airbnb-like vacation rentals.
Cost- effectiveness:
Comparatively, the expense of food on airbnb-like vacation rentals is more cost-effective than hotels for the reasons below.
Places like California, Mississippi and Florida have a higher food price index than other states. This makes the cost of food more expensive in hotels. But, the kitchen facilities in vacation rentals allow the guests to prepare their own meals. This reduces their food expenditure to the maximum.
Unique experiences in airbnb-like vacation rentals:
An experience is an event planned by the hosts for the guests at the time of their stay. From the camel rides on atlas mountains to sledding with huskies in Norway are few of them. Daring experiences like visiting a beehive in a nearby also available. This type of unique experience instigates guests to book vacation rentals.
Local community immersion:
Unlike hotels in business areas, most of Airbnb’s are located in a community area. The host himself is a member of that local community. Thus, the hosts educate the guests about the lifestyle and culture of the people. The guest feels like a local person. Also, the guest tries to live a life similar to them during the rental period. This opens the door to a new world for guests which they haven’t experienced in hotels.
Conclusion:
In the digital age, the traveller’s expectations are growing steadily. Expectations like unique experience, variety of options and cost-effectiveness were not fulfilled by the hotels. But Airbnb-like vacation rentals satisfy all these expectations of the travelers. Inherently, travelers preferred airbnb-like vacation rentals over hotels. This is the reason for the monstrous growth of vacation rentals.