New Analytics Product Helps Airbnb Hosts Compete with Hotels
Leading provider of vacation rental data AirDNA has released a cutting-edge market intelligence product to help professionalize the Airbnb host community. Market Minder displays key hospitality metrics for every Airbnb rental worldwide, enabling hosts to compete on the same level as hotel executives.
In a simple, interactive dashboard complete with maps, charts, and adjustable filters, the tool allows vacation rental managers to make informed pricing decisions, spot peaks in travel demand, and better understand how their properties stack up against similarly sized and priced competitors.
After hosts have optimized their own rentals, the Market Minder also provides insight on the best locations in town in which to expand their businesses. With neighborhood-level analytics available in more than 1,000 major tourist destinations, the application allows users to explore different parts of town to discover where the most profitable short-term lodging can be added.
Market Minder empowers small operators with big data. “Airbnb hosts have been operating in an informational vacuum,” says 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 USD $40 billion in 2017 alone. Yet, despite the 1.7 million Airbnb hosts currently using the platform, no analytical tools have emerged to empower this new generation of entrepreneurs. With the release of Market Minder, these mission critical KPIs are available to any host who wants to optimize their listing for success and intelligently compete for tourist dollars in their own city.
Market Minder is a subscription-based service for users to access local information on more than 25,000 cities and neighborhoods around the globe. Pricing starts at USD $14.99/month. For more information, please visit https://airdna.co/market-data