Whenever people travel to other parts of the country or world the one thing most of them regret is less experience with local people.
This is where Airbnb bridges the gap between a traveler and the local experience.Airbnb provides a platform to tourists across the world to live at places made by locals and in most cases with locals.
It also provides an opportunity for the local population for earning an extra or full-time income by renting their house to tourists and interact with them.Now lets us discuss in detail How to build an app like Airbnb, its features, development timeline, and the cost of development.How does Airbnb work?If you have ever booked a stay with Airbnb as a user or if you have ever been the host you might be aware that there are basically 2 panels required to complete a successful transaction.User App / WebsiteHost or Landlords App / WebsiteHow does a user book a stay with Airbnb?Downloads the app and registersFill in the location to check out places to stayFilter by price, nearby location, stay area, ratings, etc.Checkout multiple places and select onePress book and select the desired date and approx time of arrivalChoose to pay online or cash on arrivalArrive at the stay and enjoy the vacationHow does a host accept the stay with AirbnbRegisters account and propertyGets approval for the propertyOnce a user confirms the stay the host is notifiedThe host has the option to accept the stay or reject the stay based on the availabilityOn accepting the host gets the booking amount in a bank accountThe user arrives on the date and the host needs to update within the appOn successful check out the host receives the full payment either online or cash.The host expects future bookingsAs with every business Airbnb offers its service for generating revenue so let us discuss in brief the revenue-generating model for AirbnbApps Like Airbnb Developed by WebClues InfotechProhoffSimilar to Airbnb Prohoff is a space or accommodation booking app for travelers from local populations.
The app offers luxurious stays for travelers and a great guest experience.Check out the Detailed Portfolio WebClues Infotech PortfolioHow does Airbnb generate revenue?There is no one or the right way to generate revenue from services that Airbnb provides but the model followed by Airbnb can be read further.· Revenue from Guest Booking feeA user needs to pay a certain percentage or fixed pay to avail of the services that Airbnb offers.
Generally, a user is charged the booking fee whenever they try to book a stay with Airbnb hosts and not independently.· Revenue from HostsGenerally, the revenue generated from the host in commission is on the higher side than the booking fee mentioned above.
Generally, the approximate earning from each stay is in the range of 10%-20% of the total earning generated from the stay.Probable revenue generation model· Advertisements for newly listed propertiesOne of the big revenue-generating models that apps like Airbnb can target is to showcase advertisements on listing pages whose property owners want their property to showcase on top of the search at an extra cost.The property owners can opt-in if they want to showcase their ads and Airbnb can charge extra commission on successful bookings or charge independently for these advertisements.Market Statistics of Airbnb App till 2020Around 3 million hosts worldwide14000 new hosts joining the platform in 20217 million property listingsPresent in 1000+ citiesPresence in 200+ countriesHow to build an app like Airbnb1.