Get Paid For Your Pad | Airbnb Hosting | Vacation Rentals | STR Revenue Management Simon Lehmann Shares His Predictions for the STR Industry in 2020 and Beyond
Though home-sharing and hospitality is nothing new—we’ve been sharing our spaces since Prehistoric times—the industry has evolved a great deal in the last decade. And the short-term rental (STR) space will continue to grow and change in the years to come. So, what current trends are likely to continue in 2020? And how can we grow as hosts to stay competitive in the decade to come?
Simon Lehmann is the CEO and cofounder of AJL Consulting, a boutique firm with a focus in the private accommodation and STR industry. Prior to AJL, Simon served on the boards of HomeAway, Travelwindow and Inntopia, and spent eight years at the helm of Interhome, where he oversaw a total of 32K STR units in 29 countries. A globally recognized thought leader in the vacation rental and online travel space, Simon has delivered keynotes at VRMA International, the World Tourism Forum and the Vacation Rental World Summit.
On this episode of Get Paid for Your Pad, Simon joins me to discuss how Airbnb has (and hasn’t) changed the STR space, describing the platform’s major achievements in the last 10 years. He shares the trends around professionally managed inventory and predicts whether Airbnb will realize its ambition to become the world’s OTA superbrand. Listen in for Simon’s insight on growing your own property management business and learn how to meet changing guest expectations for STR in 2020 and beyond!
Topics Covered
How Airbnb changed the STR space
- Created new vertical in existing industry
- Accelerate supply growth exponentially
Airbnb’s major achievements in the last 10 years
- Established incredible marketplace
- Created many entrepreneurs + businesses
- Made tourism available to new generation
Simon’s top prediction for the STR space in 2020
- Supply will become more professionally managed
What aspiring PPMs should consider in growing a business
- Take on quality inventory in good location
- Maximize availability + bookability
Simon’s advice on scaling up a PPM business
- Bring on staff, limit self to tasks that add value
- Be selective in onboarding new properties
How guest expectations are changing in the STR space
- More ‘hotel guests’ with higher standards
- Improve quality to remain competitive
How small property managers can stand out
- Spend 2 to 3 days in each property yourself
- Little things make big difference (e.g.: personal note)
The potential for Airbnb to go public in 2020
- All signs point to YES
- Strategic acquisitions
What’s behind Airbnb’s ambition to expand beyond STR
- Pressure from current investors
- Leverage customer base to sell additional things
Connect with Simon
Resources
Airbnb’s Acquisition of HotelTonight
Email jasper@getpaidforyourpad.com
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