Two factors control how much money you can make out of your Short Stay Rental (STR): occupancy level and nightly rates. If you rely on just one or two Online Travel Agencies (OTAs) like Airbnb or Booking.com to get your bookings you’re missing out on revenue and very vulnerable to changes with any one of the OTAs. And did you know that Airbnb only ranks as the 8th largest booking platform in Australia? So if your only on Airbnb you are not even on a top 5 platform.
To maximise your revenue you need your property to be distributed as widely as possible and all platforms need to have up to date information and pricing. Learn more about pricing at Yield Maximisation.
Whist it is possible to synchronise your calendars across many of the OTAs without sophisticated software this has serious limitations, the main is your pricing, including any long stay discounts and terms are not synchronised.
Host Extension uses sophisticated software that synchronises all key property parameters, we also have experience with all major OTAs so will list you on all relevant platforms (we have access to more than 60 OTAs).
The world’s number one STR and hotel online commerce platform Siteminder publishes a booking revenue maker’s list. The top 10 booking platforms for 2021 are, in order:
2. Direct Bookings
3. Expedia Group (Stayz, VRBO, Homeandaway)
4. Global Distribution Systems (These power the more traditional Travel Agent Network)
5. Qantas Hotels
7. AOT Group
10. HRS (Formally Lido)
In Australia for your Short Stay Rental the key platforms to list on are:
The largest OTA in the world, with over 28 million properties listed. You can find everything from luxury hotels to apartments, entire homes and glamping. The reach of Booking.com is so huge if you get it right this can easily be your number one source of guests. However Booking.com can also be expensive with a commission rate of between 12-21% plus a Genius program that requests you discount your properties by 15-20%.
Host Extension have proven strategies to drive bookings through booking.com and manage costs.
Expedia network (Stayz, VRBO, Homeandaway)
The Expedia network is the second largest in the world and the group have been aggressively pursuing market share. Stayz is particularly active on social media in Australia and has been contributing very strong booking volumes. VRBO’s customer support is good and they provide a lot of control over your listing and terms.
Airbnb is so synonymous with Short Term Rentals the name Airbnb has almost become the eponym of the larger Short Term Rental industry “I make great return’s Airbnbing my place”.
Airbnb consistently drives guest bookings. Uniquely they have a guest and host review system that can be useful and offer host property insurance.
However it is not advisable for hosts to solely rely on guest reviews or Airbnb’s insurance. Hosts should vet all of their bookings and have adequate insurance cover.
The second largest platform in Asia Agoda is an important part of your distribution strategy if you are targeting visitors from Asia as international tourism recommences.
Tripadvisor claims to be “the world’s largest travel community”, however they are less established when it comes to travel bookings. Don’t expect to be inundated with bookings from Tripadvisor however at just 3% commission any booking from Tripadvisor puts more money in your pocket. And with 460 million visitors to the website each month it is a great place to showcase your property and get your brand out there.