After an extended backpacking trip opened my eyes to the untapped revenue potential of Airbnb, I realized that Airbnb hosts needed better data to identify market opportunities and optimize the performance of their short-term rental listings.
We launched AirDNA in 2015 to give hosts the insights they need to better run their listings and build a profitable short-term rental business. In the last few years, AirDNA has grown into a team of 35, and we’ve successfully analyzed more than 10 million short-term rentals across 80,000 regions to build MarketMinder, the industry’s leading platform for short-term rental data.
Today, the AirDNA team is bringing the biggest update to MarketMinder ever to provide hosts and vacation rental managers with a full view of the short-term rental market: HomeAway data has been fully integrated into our platform.
Now, users can see the true supply and demand of short-term rentals—both today and six months into the future—in every market globally.
How the Market Has Changed—and Where It’s Going
A lot has changed since 2015. While some short-term rental hosts run a single listing part-time to help pay their bills, an increasing number of people are turning to short term-rental hosting and management full time as a career. They run multiple listings in multiple cities, providing travelers with more options than ever before for accommodations.
As the market has grown and Airbnbs have started to compete with hotels, traditional vacation and property rental managers have taken notice. They’ve jumped into the short-term rental economy, listing their properties on Airbnb, HomeAway, and other booking sites.
[googleapps domain=”docs” dir=”spreadsheets/d/e/2PACX-1vQS2AaiJOX_nBCLvUX6sn7RHU_GJ3nt64kNARhObasG1PIxQCqRNvH07Iyg1vPVKAp_OfViP81b3I2_/pubchart” query=”oid=1409891772&format=interactive” width=”600″ height=”371″ /]The increase of multi-listing hosts since 2014
With the market becoming increasingly professionalized, there’s been an explosion of tools and software for hosts and vacation rental managers. You can find services that help with everything from cleaning, tax compliance, security, and overall guest experience that cater to both single listing and full-time professional hosts.
Unfortunately, most hosts and vacation rental managers are still playing the guessing game, relying on hunches and using incomplete data when it comes to pricing their listings and optimizing revenue. Airbnb has a hosting dashboard, and HomeAway has MarketMaker—both which try to help hosts understand market demand and supply so that users can price their properties more effectively.
But these tools only tell part of the story. They don’t provide users a full view of supply and demand since they can only pull data from listings in a single platform—not the entire market.
With our recent product updates and today’s announcement of HomeAway data integration, I believe that AirDNA is truly the most comprehensive source of short-term rental data available today.
Understand Properties, Not Just Vacation Rental Listings
Today’s professional short-term rental hosts know that they need to list on more than one site in order to maximize bookings. There’s a significant amount of HomeAway and Airbnb overlap in highly-competitive markets, and the data you see in MarketMinder now reflects that with a more complete view of the market.
Since properties are often listed on both HomeAway and Airbnb, our data science team created a matching algorithm to automatically determine which properties are listed on both platforms. With MarketMinder, hosts and vacation rental managers can now see the true supply and demand in any market—and whether a property is booked, blocked, or available—regardless of where it is listed.
MarketMinder now indicates if a property is on Airbnb, HomeAway, or both platforms.
Our goal at AirDNA has always been to give you the most complete view of the short-term rental market. The addition of HomeAway data is a major step toward us showing you how properties—and not just listings—are behaving in any given market so you can price your vacation rental listings as effectively as possible and maximize your returns.
More Free Data for Hosts and Rental Experts
Finally, I’m excited to share that this data is available for free to any registered user in the MarketMinder Overview tab.
I believe that MarketMinder is an invaluable investment for any host or vacation rental manager who wants to grow their business. I encourage you to try out our new features and let us know what you think.
This update is a major step in our continual evolution toward creating the world’s most accurate and complete source of short-term rental data in the world. Keep an eye out for future updates to MarketMinder—we have a lot more planned in the coming months.
See HomeAway and Airbnb Data for Your Market:
The post The Short-Term Rental Market Is Evolving. So is AirDNA. appeared first on AirDNA – Short-Term Vacation Rental Data and Analytics.