Even though Airbnb is only reaching its 10th year in operation, it has had a major impact on the hospitality property industry.

Welcome to another edition of Hospitality Property School.

Today, I am going to look at “Airbnb & How You Can Compete”.

 

 

Even though Airbnb is only reaching its 10th year in operation, it has had a major impact on the hospitality property industry.

 

There are many in the travel industry who feel that Airbnb is leading to the ruin of for average properties who target leisure guests. There is still a number in the industry who see it as a positive force for change. They feel that the effects of Airbnb, and similar businesses, are having on hospitality properties will ultimately benefit their regions or have no negative force on other travel sectors.

 

I am sure that the extra competition will cause problems for many properties and that their only course will be to up their game.

 

There is, however, lots of proof showing that Airbnb and other well-known members of the alternative-lodging provider economy are considerably affecting the greater hotel and real estate markets.

 

So, rather than sitting back and feeling sorry for yourselves and complaining about the new competition, look at the advantages Airbnb has that is helping them to succeed and determine how you can counter these ideas or make small step-by-step upgrades to your own property to help close the gap.

 

 

1. Airbnb’s can have more character than a regular hotel

It is true that each Airbnb property has an opportunity to bring its own distinctive charm amassed through years or more of hosts living in their properties and filling them with electric appliances and artwork.

 

But if your property is meeting its standards, it can be very refreshing for your guests to be able to walk into one of your hospitality property rooms already guaranteed that everything will be in its right place. Including, bathroom amenities, towel services, clean linens, etc.

 

That said, hospitality properties can and should improve the individuality of their rooms so that we can better mimic the success that Airbnb has derived from this primary feature.

 

While every initiative you take to make your rooms distinctive will require some form of capital expenditure, it is extremely important unless you want to be labelled as ‘just another boring hotel’.

 

 

2. Airbnb’s tend to locate themselves in trendy neighbourhoods

Most hospitality properties are not built on an impulse.

 

Unlike an Airbnb rental, every new construction should be validated through some form of market assessment, which certainly directs properties towards high-traffic areas and not necessarily the ‘trendy or cool’ parts of town.

 

Well, there is a really good chance that these areas were already trendy or cool in some way and this can be leveraged in your marketing. You must become an expert in everything happening within a three-block radius of your property, and then market accordingly along with any local partnerships you can stir up.

 

 

3. Access to kitchens and laundry.

In most cases, you’re not going to be able to offer in-room cooking opportunities to your guest like they could in an apartment because the average guest room is not built like an apartment.

 

Instead of spending a fortune to transform your property into a long-term residence with short-term rentals, hospitality properties can compete by promoting their in-house laundry services or dining excellence.

 

Having laundry done for you is a treat for many travellers! And what’s better than making your own meals? Having a professional chef prepare a meal for you while you enjoy the atmosphere of a great restaurant with amazing service.

 

Now, there is the difference in terms of costs, so it’s up to you to find a pricing strategy that influences guests to prefer your comforts overdoing it all themselves.

 

 

4. Offering experiences for the modern traveller

Today’s travellers want distinctive experiences, and Airbnb is doing that for them.

 

It’s up to you to know your region and come up with interesting activities, events, partnerships and any other experiences to get our guests excited about staying with you.

 

Brainstorm with your management, employees, family, and friends to come up with great concepts.

 

 

5. Airbnb is everyday homeowners only trying to earn a few extra bucks.

Back in the early days of Airbnb most of the listings were spare rooms or basement suites, but today, if you take a look at their website will see that most rentals are whole apartments or houses entirely separate from the host’s primary residence.

 

These are full-fledged landlords and you have to take the competition seriously.

 

6. You have an advantage

The main advantage you have is that you are a professional hotelier or innkeeper and you have access to the knowledge of how to make your property successful.

 

Use your expertise to offer your guests an experience that they will want to enjoy over and over again.

 

 

If you have any stories at “Airbnb & How You Compete” and would like to share or have any questions or feedback you can leave them in the comments section of the show notes. 

 

 

You can find them at:

 

keystonehospitalitydevelopment.com/KHDC096

 

That’s it for this session of hospitality property school.

We appreciate your comments and if you have topic ideas, feel free to reach out to use on

 

Facebook at facebook.com/keystonehdc

Twitter at twitter.com/keystonehdc

 

Or email at

info@keystonehospitalitydevelopment.com

 

 

So, as always, let’s work together to put heads in your beds.

Until next time, have a fun day.

 

 

 

 

For listeners of the Hospitality Property School Podcast

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As a Member:

  • You have the opportunity to ask questions, share best practices, promote your property etc.
  • Every week a video will be posted with updates & answers to questions
  • Every week training tutorials will be added to the group. They will be listed in the following categories
    • Organizational Structure
    • Employee Development
    • Marketing for Your Hospitality Properties (Including How to Use Social Media)
    • How to Look at Your Hospitality Property
  • We will share monthly interviews with hospitality property specialists on such topics as: Customer Service

Property Management System

Hotel Guest Service

Hotel Website Design

Hotel Marketing

Employees

 

 

You can have access to all the information currently posted on

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Music Credit:

Sun Spark

http://www.danosongs.com/

 

 

Hospitality Property School is a division of Keystone HDC