A new market intelligence tool has been launched that developers claim will allow Airbnb owners to “compete on the same level as hotels”.
AirDNA, which specialises in vacation rental data, has released Market Minder, which displays key hospitality metrics for every Airbnb rental worldwide.
An interactive dashboard with maps, charts and filters allows vacation rental owners and managers to better identify peaks travel demand periods and understand how their properties stack up against similarly sized and priced competitors.
And for hosts seeking to expand their portfolio of properties, Market Minder uses neighbourhood-level analytics to offer insights on which parts of town provide the most profitable short-term lodging opportunities.
The subscription-based service is available for more than 25,000 cities and neighbourhoods around the world and, according to the company, will “help professionalise the Airbnb host community”.
“Airbnb hosts have been operating in an informational vacuum,” said Scott Shatford, CEO of AirDNA. “We have created a tool that finally puts the business intelligence directly into the hands of these small business owners, allowing them to make more informed, data-driven decisions in an increasingly competitive marketplace.”
The demand for hotel alternatives like Airbnb shows no signs of slowing. AirDNA projects that global revenue for all properties listed on Airbnb will exceed US$40 billion in 2017 alone. There are a total of 1.7 million Airbnb hosts currently operating worldwide, but their business analysis tools still lag significantly behind those available to the hotel sector.