I just got started last month and was on both platforms 10 days before Labor Day. I've had 3 bookings already on Airbnb, and have 3 more coming up. Vrbo has had zero. The property is an entire house. Just curious if this is the norm and I'll just need to wait awhile to get some Vrbo traction. I want to make sure I have a good mix long-term.
That’s going to be up to you! Typically Airbnb willl shoot new folks more bookings early you on their treat. Vrbo will take more work to gain traction but there are a ton of dollars over there.
That’s going to be up to you! Typically Airbnb willl shoot new folks more bookings early you on their treat. Vrbo will take more work to gain traction but there are a ton of dollars over there.
We have about 85 doors ranging from urban studios to beachfront mansions. We are also on about 15 channels including direct booking. Our stats portfolio wide are about:
40% ABNB
30% VRBO
30% Other
We are working to get more direct and less Airbnb with time.
However, that is portfolio wide. Some individual properties may be 85% Abnb and 15% all others. What we typically see is the more urban and smaller units are heavier on Airbnb (younger crowd) and the higher end and beach areas being heavy on VRBO/Marriott etc.
I just got started last month and was on both platforms 10 days before Labor Day. I've had 3 bookings already on Airbnb, and have 3 more coming up. Vrbo has had zero. The property is an entire house. Just curious if this is the norm and I'll just need to wait awhile to get some Vrbo traction. I want to make sure I have a good mix long-term.
My area tends to be 70%-75% airbnb, 20% VRBO and 5%-10% bookings, elsewhere.
Completely property and market dependent. Across all of our portfolio the split looks like 54% Airbnb, 21% VRBO, 18% Other OTA, and 6% direct bookings.
However, what is interesting is that in some of the markets that we invest the numbers skew much higher towards VRBO and in another one we are doing almost 80% of the total booking through Airbnb.
Airbnb boosts your listing at the top of the searches for few weeks since it is new, so you will see instant traction at the beginning.
Vrbo takes longer to build up. We have transitioned out of airbnb about 2 years ago and do not list there any longer.
Which channel will be more beneficial for you, will depend on the market you are in ( your clientele - if they are younger crowd, using airbnb or family folks likely to use vrbo booking for their extended family - kids and grandkids).
It will also depend on your minimum night stays and time of the year as well as the price point for your property. The longer, more expensive reservations tend to come through vrbo.
I would advise you to focus on 1channel and build up your placing there, while supplementing your rentals from other sources as well. It will be difficult to have great performance on all of them due to the placing.
Spend more time focusing on VRBO bookings than Airbnb, you will thank me later ;)
This might be good advice for you or might not. These kinds of statements usually come down to personal preference and you will only find out by trial and error.
One thing that I have had success with however is to price the OTA´s differently and drive bookings to the one that I want to do business with the most.
As an example, based on fee structure, customer service, cancelation policy and a few other factors this is the list of where I want customers to book.
1. Direct Booking
2. Trip Advisor
3. Airbnb
4. VRBO
5. Booking.com
6.Others
So what I do, especially in advance, is price Booking and VRBO higher for the same nights vs. Airbnb, TripAdvisor and our direct booking platform. The extra income offsets whatever issues I may have with that particular OTA.
If there is availability on a more last minute basis, I can always bring the price down across all the OTA´s to ensure occupancy. But whenever someone tells you one site is ¨better¨ than another take it with a grain of salt and price accordingly.
This is an awesome thread, thanks so much for all the insights. I'm near Yosemite and trying to go higher-end-ish but need to invest a bit more on the exterior amenities (work in progress) to get there. I haven't enjoyed the Airbnb guests messaging me asking me to lower my price.
@Andrew Naber, Welcome to BP bud. I would just leave it on both sites for now. When I started I got almost 90% ABB, but now ABB is maybe 60% and 25% VRBO. I recently opened up a nice 4 bedroom house on the river with higher prices. It is 80% VRBO. So longer stays and higher end properties seem to do better with VRBO, smaller short term stays seem to do best with Air BnB.
@Andrew Naber, Welcome to BP bud. I would just leave it on both sites for now. When I started I got almost 90% ABB, but now ABB is maybe 60% and 25% VRBO. I recently opened up a nice 4 bedroom house on the river with higher prices. It is 80% VRBO. So longer stays and higher end properties seem to do better with VRBO, smaller short term stays seem to do best with Air BnB.
Thanks for the warm welcome and feedback. How would you know if a property is higher end. I.e., taking away my personal bias, how do I know if it is or isn't compared to the market/area and if I could get it there? From a pure build perspective, the house is unique and has some details that a certain segment would appreciate. Kitchen counters are for sure not high end, and on my list to upgrade soon.
@Andrew Naber, high end is relative I guess to your area. You can always experiment to find out. I simply put my listings on both sites and see how they shake out. I called my most recent STR high end because it had 4 bedrooms, not my normal 2 bedroom, it had more square footage, higher end furniture, and it was on a river front. It has an outside fire pit, higher end bedding, bigger kitchen, etc. It is nicer than most in my area, but not as nice as some. You can decide for yourself. Good luck.