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Short-Term Rentals: Airbnb Announces Big Upgrade and New Research on Travel

Short-Term Rentals: Airbnb Announces Big Upgrade and New Research on Travel

FromReal Estate News: Real Estate Investing Podcast


Short-Term Rentals: Airbnb Announces Big Upgrade and New Research on Travel

FromReal Estate News: Real Estate Investing Podcast

ratings:
Length:
6 minutes
Released:
Jun 4, 2021
Format:
Podcast episode

Description

Airbnb just unveiled a big upgrade to its platform as the company gears up for a post-pandemic travel surge. (1) The upgrade includes more than a hundred changes with a focus on flexibility. Airbnb says that people need more flexible options because they are traveling more often, searching for new destinations, and are staying for longer periods of time.Airbnb says the changes it made to its platform were inspired by a comprehensive analysis of its booking data and travel has changed because of the pandemic. According to the Airbnb Report on “Travel & Living”: “We are shifting from traveling at all the same times to all the same old places, to many of us living anywhere, at any time, for however long.” Airbnb describes this as “a world in which living and traveling are one and the same.” (2) Airbnb’s Report on Travel & LivingThe report says the number of people who see traveling as more of a lifestyle today is almost the same as the number of people who see traveling as a series of individual trips. People in five countries and three U.S. states answered the question.The five countries included the United States, the United Kingdom, Mexico, France, and Australia. The overall percentage was 39% for travel as a lifestyle and 43% for one-off trips. Florida had similar results but the survey participants in California and New York leaned even more heavily toward “travel as a lifestyle.”Airbnb calls this kind of travel shift a “blurring of traveling and living” with three key trends. The first one is that “people are less tethered and more flexible on when they can travel.” Researchers say the number one response from people surveyed in those five countries is that they would travel more often because they can -- thanks to the ability to work and study remotely.Second, people are traveling to a wider range of destinations. They are shifting toward the road less traveled and trying out new locations. For example, Airbnb says there was a big jump in the number of people searching for natural settings such as mountain, coastal, and rural destinations. But they are also looking for places within 300 miles of home, just not the usual places.And third, people are staying for longer periods of time at their destinations. Airbnb says the average length of stay has grown from 3.5 nights in 2019 to more than 4 nights in April of this year. It also found that long-term stays of at least 28 nights have almost doubled. Those accounted for 14% of the bookings in 2019 compared to 24% of the bookings in the first quarter of 2021. More than half of those long-term guests said they were also working or studying during their stay.The New “Live Anywhere” TrendThis “live anywhere” trend appears to be growing, as well. 74% of the people surveyed said they would like to live someplace other than where their employer is based. 11% of those surveyed described their lifestyle as “nomadic.” And 5% said they plan on giving up their homes to live full-time in Airbnbs.In support of this new trend, Airbnb is offering three new ways to search on Airbnb. The new tools are called: Flexible Dates, Flexible Matching, and Flexible Destinations.Flexible Dates allow a person to search for a weekend getaway, a week-long vacation, or a month-long stay, for example. That opens up the possibility for getting a place that might not show up if you specify dates because of a reservation overlap with someone else. Flexible Matching will show results that might be slightly outside your search area, or slightly higher than the price you specified.And Flexible Destinations offers a way to find unique places that you wouldn’t know to search for. These are one-of-a-kind properties that have apparently grown in number just recently. Airbnb says: “From adobe houses to wagons, Airbnb has over 170,000 one-of-a-kind properties to choose from and the number of searches for these unique listings has grown 94% so far in 2021 compared to the same period in 2019.Airbnb has also added new filt
Released:
Jun 4, 2021
Format:
Podcast episode

Titles in the series (100)

Don’t get caught off guard by market crashes that can take all your money down with them. And don’t miss out on markets where you can build wealth practically overnight. Real Estate News for Investors with Kathy Fettke is the premiere source for savvy real estate investors who want the edge. Stay up-to-date on new laws, regulations, and economic events that affect real estate. Topics include: market trends, economic analysis that affects housing prices, updates on the best rental markets for investing in single-family rentals or multi-unit rentals, turn-key housing standards, the fate of the highly revered 1031 exchange and other tax law affecting investors, self-directed IRA investing and 401k changes, where rents and property values are rising or falling, flipping risks, new Dodd-Frank rules regarding private lending and financing standards, areas with job losses vs job growth, areas that are overbuilt or over-supplied versus areas with low supply and high demand, and how to avoid real estate scams. We'll bring you the latest reports from organizations like the National Association of Realtors, Realty Trac, Fannie Mae, Freddie Mac, Zillow, Trulia, Redfin, Rent Range, Property Radar, the Norris Group, Peter Schiff, Robert Kiyosaki’s Rich Dad, Suse Orman, Bigger Pockets, Dave Ramsey and more. And we'll help you interpret the data in terms that make sense for your real estate goals, and portfolio. Grow and protect your wealth by staying on the forefront of economic data analysis, expert opinions, innovative investing strategies and profitable investment opportunities. We'll share all the top real estate news stories and the best trade secrets investors should know, so you can stay ahead of the curve and make fully informed real estate decisions. Host Kathy Fettke is Co-CEO of the Real Wealth Network, author of Retire Rich with Rentals and host of the Real Wealth Show on iTunes. She brings decades of media and real estate investing experience, offers her own viewpoints on particular topics, and taps into her network of real estate experts for real world news updates created just for investors like you. Get the real news on real estate on The Real Estate News For Investors Show!