The vacation rental market is taking over the industry, worldwide, and therefore back home Airbnb Management Cape Town has exploded in recent years!
Since Airbnb became a major player around November 2010, the entire short term holiday rental market as it was known until then has changed – so has Airbnb Management Cape Town. Today we are a very long way away from the initial concept of “home sharing” and giving travellers a chance to “live like a local”
From the start the winning concept and competitive pricing started to pay off. As Airbnb became more well known, popular and gained more exposure and market share, every property owner saw potential for additional income – be it a “granny flat” in the backyard, just a single room (with shared bathroom) in a house somewhere in the suburbs or countryside, a slick New York style city loft, or even your entire holiday home by the sea – this all was, and still is possible on Airbnb. A truly wonderful and unique, never seen before concept and the rest is as they say… history.
More and more listings were added, and more and more people joined the community. Property owners started to switch from long term rentals and leases to short term holiday rentals. Investors started buying additional properties for the sole purpose of short term holiday rentals due to the success and higher income. Airbnb just got bigger and bigger.
Read more about our offering for Airbnb Management Cape Town
As the saying goes, “highest trees catches the most wind” was surely something the team at Airbnb had to anticipate and be prepared for. Many incidents of damages to property, complaints by neighbours etc. led to some negative publicity and was to a certain extend to be expected as part of it all. Airbnb adapted, made some changes and by this time became a major player in the accommodation sector world wide. By now the conventional accommodation suppliers such as hotels, resorts, guest houses and traditional b&b’s realised something is changing. Pressure started to mount followed by cities across the globe starting to implement strict new rules and regulations regarding “home stays” and even imposed Airbnb bans in some cities and certain residential developments. The end of Airbnb? Not even close…
Travellers were not affected as much as property owners, and still preferred this new way of booking accommodation. Airbnb became a brand like few other. More and more suppliers in the industry started using Airbnb to their advantage in marketing their own products and services – very much like this very article.
As the pressure on the conventional accommodation sector increased, they started to realise this is a world wide phenomenon which changed consumer travel habits and started getting onboard. Hotel groups started offering suites and apartments in their product offering versus just a room with en-suite bathroom. Even the major accommodation portals and platforms such B.com and Expedia now also have dedicated “vacation rental” or “homes” sections and listings as well. A former key player, HomeAway was even taken over by Expedia.
In the past someone would say “I booked an apartment somewhere”
Today you hear more often than not “I booked an Airbnb”
Big enough?
And the most fascinating aspect of all this, it transpired in under a decade today (September 2019). Such a brand domination in any industry, let alone one of the biggest industries worldwide is phenomenal to say the least!
What is next for Airbnb? Only time will tell…
his is your first post. Edit or delete it, then start writing!
