Short-term rent O2O case study-AIRBNB profit model and development prospect

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I. BASIC information

Airbnb was founded in August 2008 and headquartered in California State San Francisco. Now has become a short-term rental market important enterprises. It is also the most sought-after business model in the short term rental market. Airbnb is a travel and housing leasing community that allows users to publish, search for vacation rental information and complete online booking programs via a Web or mobile app. Airbnb users in more than 33,000 cities in 192 countries, millions of users. The basic information of product consultation summary is as follows:

II. Development process

Airbnb is a service-oriented web site that links travelers and homeowners with a vacant home, which provides a wide range of accommodation information for users. And from the transaction amount of 10% of the service charge as the company's main source of profit. This simple business model has been exploding in growth over the past 5 years.

2008 Airbnb's two founder Brian Chesky and Joe Gebbia in San Francisco for the IDSA (American Industrial Designers Association) during the meeting for participants to provide short-term accommodation and the initiation of entrepreneurial ideas, the same year August Airbnb officially online. 2009 in order to give the newly established Airbnb to bring rental housing source, Airbnb team began to focus on real estate agents such users. Because of different requirements, the research team spent six months developing tools for them. But Chesky experience let them realize that the house of real estate intermediary is like a hotel, violating the Airbnb from the beginning of the creation of social elements, to enable customers to feel, not at home, better than home, to be able to effectively play a "from the flesh and blood of the people there rental" concept. Due to early blindness and impatience, the Airbnb grew relatively slowly in 2009.

In 2010 years Airbnb has achieved 7 times times faster growth. Boardofinnovation was rated as one of the top ten Web site business models in the United States 2010. 2010 Airbnb completed a 1.6 million-night lease. In New York, for example, the number of rooms rented through Airbnb has surpassed the number of Manhattan's largest hotels.

The Airbnb service grew incredibly by 800% in 2011. In the same year, however, accidental events have also brought a crisis to this alarming rate of growth. The landlord's house was ransacked by a bad tenant in July 2011, and the landlord protested to Airbnb, but Airbnb did not respond positively at the first time, but gave some bureaucratic answers. So the landlord began to the media, bloggers for help, the result on the spot became a PR event. August 1 night, Airbnb finally jumped out to "unconditional apology" and provide all homeowners "50000 dollars damage Insurance", this incident can be said a paragraph. Since the case, Airbnb has led Lloyd's in London to introduce a "Homeowner's guarantee" scheme to ensure that homeowners receive the main property risks of up to 1 million dollars in their homes. Further improved the Airbnb service.

At the beginning of 2012, there were only 120,000 rooms on the Airbnb, which rose to 300,000 in a year's time. And this year they opened 11 new offices in Paris, London and Singapore. Before Airbnb share data often with the number of nights to do indicators, last July, the global total orders just over 10 million nights. This time it shares the number of users, showing that 4 million of customers have booked Fang on Airbnb, adding 3 million in the year 2012 alone.

In 2013, Airbnb's strategy for the year was to slow expansion, restructure resources, make an adjustment to the rapid expansion of previous years, and also recruit globally to stabilize the market. And also in May in New York was also exposed Airbnb short rental services in violation of New York private Property rental laws of the illegal things.

Iii. Stunning Services

Product Consulting found that Airbnb can have today in short rental market important position, mainly from the enterprise itself amazing service. Airbnb is perfect for both the landlord and tenant services and security.

1, the landlord's housing security plan

Airbnb's housing security plan for landlords is particularly detailed and provides as much as $1 million in insurance against property listings to protect you from any loss or damage caused by theft or sabotage by Airbnb tenants. For the local individual rental policy is not very perfect country, Airbnb to go to and government departments to discuss.

2, the tenant's rights and interests protection clause

In order to protect the tenant's rights, Airbnb listed the landlord should meet the obligations. For example, the listings on the Airbnb platform should meet the minimum quality standards for safety, availability and cleanliness, and should be consistent with the description provided by the landlord. This is a perfect service for the landlord and tenant in safety.

3. Featured Products on Airbnb

In the rental of housing products, Airbnb can be regarded as unique, he can meet the majority of tourists in the field of rental requirements, but also to create special, visitors can not enjoy the experience. such as renting the whole village, or even a country. You can rent a village in Austria for 65000 dollars a night, you can rent a German wine-producing village for 50000 dollars a night, and you can rent a whole country. Of course, you rent the whole village or country can not drive all the residents of this country out, but through Airbnb with the local company's cooperation, you can enjoy the unique, as if you are a person prepared for a country. Airbnb is not only a platform for travelers to find the best experience, but also a platform for visitors to experience special services.

Iv. Profit model

Product Consulting found that the domestic and foreign short-term rental market business model is different, there may be some differences in profit points, but generally still similar. In foreign countries, Germany's wimdu mainly to rent a total rent of 12% of the service charge, the recent acquisition of China Love Day rent. The main profit model of Airbnb in the United States is to draw commission from landlord and tenant transactions, which is 10% of the turnover. and HomeAway the landlord and tenant charges, advertising fees, third-party cooperation and the search results ranked as income. In China, ant short Rent The Future profit model is to take HomeAway as an example. The pedestrian network is the custodian service and the trading Commission as well as the market cooperation profit. Therefore, most enterprises are mainly to collect commissions for profit points.

V. Development prospects

Short-term rental market in the global relying on Airbnb perfect service, based on the accumulation of a few years of huge customer groups, enterprises have been adhering to the system of hands-on experience. Are for the future in the gradual expansion of the short rental market platform laid the foundation. However, Airbnb should pay attention to the interpretation of policy and law, because Airbnb is a global service platform, the products involved in the world around the edge of the law, different countries on this initiative may have different systems. For now, the United States, May 2013 was also exposed Airbnb provided by the short rental services violated the New York private property rental laws of the illegal things. Therefore, Airbnb in the future development process not only to do a good job of experience, security, service, focus on a series of aspects, but also to strengthen the policy of legal research. Only in the case of not breaking the law, with some additional value to enhance the value of products to meet the needs of people, can be long-term development. Quality Road Consulting that Airbnb if you can handle the problems of law and policy, can continue to lead the global short-term rental market.

Airbnb is a rapid growth of 5 years of enterprise, although the initial scale, but not very mature, and the development of space is very wide, if anxious to go public, it will be like the United States purchase site Groupon is subject to all kinds of restrictions and constraints. So Airbnb now the steady development is the key, when the market matures, the listing is just within reach. Based on the operating results of Airbnb, the domestic short-term rental market has also started to boom in the last two years, but Airbnb is indeed a model for short-term rental enterprises, but may be based on national conditions and market awareness and other issues, appropriate to change its business model and profit model, Now in the domestic and Airbnb most similar enterprise is the pig short rent. With the development of the market, the short-term rental platform will be more and more attention, the final profit model will come from the various service charges, including platform service fees, Third-party service charges. When short rental products become people's cognitive products, the survival of short-term rental business profits will become more and more rich.

Product Network researcher Zhang Jianquan