With a record number of travelers looking to explore the world this year, all of them will need a place to rest their heads at night. While the majority of them will opt for traditional accommodation like hotels and resorts, a growing number of them are opting for alternatives—vacation home rentals.
There are many different channels and platforms to list vacation rentals, but there’s one platform that is the undisputed leader—Airbnb. In a recent report put out by Beyond, 94 percent of managers and owners who listed houses for rent online do so on Airbnb.
And for those hosts in Europe who are also leveraging Beyond’s dynamic pricing tool as their airbnb pricing tool of choice, they’re seeing a dramatic increase in revenue.
Click here to try out Beyond’s pricing tool.
Airbnb Dynamic Pricing
Source: Beyond Data
Recently we took a look at how Airbnb hosts are performing in Europe and compared those who are using Beyond’s dynamic pricing tool with those who aren’t.
Beyond has always had success with individual hosts in Europe. Looking at the first part of last year, we increased revenue per listing by 13%, which includes the first few months of the global pandemic when lockdowns and quarantine measures were implemented across the region.
Source: Beyond Data
We then took a look at how things were going this year, and the numbers were staggering. From January to May 2021, European Airbnb hosts were making as much as 60 percent more in revenue while seeing a 42 percent increase in number of nights per listing!
We are still living with the effects of the pandemic and its subsequent lockdowns and safety measures. While the travel industry in general and the vacation home rentals market in specific are starting to rebound really well, the market is still relatively volatile. Dynamic pricing is more valuable in dynamic times—and now is definitely one of those times.
To see what the power of Beyond’s dynamic pricing tool can do for your Airbnb portfolio, request a free demo today!