If there was one single biggest trend in travel and tourism, then it must probably be the introduction of Airbnb. We say this because of how it managed to disrupt lodging, became a worldwide phenomenon, and how it has remained undisputed. There are very few business enterprises that have managed to pull something off like Airbnb. The Airbnb business model is being integrated into several other business sectors such as car rental, parking, coworking, etc.
Airbnb is now one of the most preferred platforms for individuals to rent out their residences as lodging facilities for travelers and tourists. So how did Airbnb manage to disrupt the lodging industry or what is so unique? Generally, tourists and travelers seek accommodations that have a homely feel, which cannot be provided by typical hotels. This is where Airbnb began to capitalize by providing home-based accommodation services.
Now, an increasing number of people, especially landlords, are renting their properties through Airbnb. In addition, several Airbnb clone apps are also increasingly developed and introduced in order to accommodate the increasing number of travelers. But, just how profitable is the Airbnb model that the demand is ever-increasing? RentCubo, one of the best Airbnb clone script development companies, gives you a deeper insight into how Airbnb and the clone of Airbnb make money.
· Sharing Economy:
The sharing economy, also known as the peer-to-peer economy is a commercial economic model. In this model, the buyers and sellers are enabled to carry out the business more easily by sharing human and other physical resources. Therefore, an Airbnb or Airbnb clone app allows for the collaborative consumption of goods and services by shared ownership and value.
The stakeholders in the sharing economy do not usually provide individuals directly with goods and services, rather they make high amounts of money by just connecting the buyers and sellers. In this case, Airbnb or the clone of Airbnb simply connects the property owners and travelers.
· Double Service Fee:
The Airbnb business model works based on commission or service charges. While the Airbnb or the Airbnb clone script by itself does not own any property, it probably has the most number of property listings under its banner. This is mainly because it is highly economical and profitable for both travelers and property owners.
The innovative business model of Airbnb earns by charging a double service fee. It charges the travelers a service fee of up to 14.2% based on the type, location, and demand of the listing. Whereas it charges the property owners a service fee of not more than 3% for each successful booking. It is a double whammy of sorts for each and every successful booking made through the Airbnb or the Airbnb clone app.
· Value-Added Services:
Apart from just providing property listings, an Airbnb or Airbnb clone script earns by offering a host of value-added services to travelers or tourists. These services can be availed by the travelers either at the time of booking the property or after the check-in.
Airbnb’s or the clone of Airbnb’s value-added services differ from property to property depending upon what the property owner is capable and/or willing to offer. These value-added services include activities like cooking classes, guided tours, adventures, bonfire camps, local community-based activities, etc.
· Airbnb Plus:
Airbnb Plus is the premium property offering of Airbnb or Airbnb clone apps. The Airbnb Plus section features properties that are highly rated and come with premium amenities along with the standard ones. Based on the ratings and amenities the prices of the properties under the Airbnb plus banner vary and are also more than the regular Airbnb properties.
In addition, the renters are also subject to value-added tax (VAT) based on the property’s home country and several jurisdiction parameters. Therefore, Airbnb or Airbnb clone script is more profitable than one can imagine for all the stakeholders. Whether you are a property owner or a business entrepreneur who would like to launch an Airbnb like business, RentCubo is the best option for you. RentCubo can help you build a proficient and state-of-the-art clone of Airbnb or you can even launch your business with RentCubo’s readily available Airbnb clone script — RentRoom.