Hotels May Try to Counter Airbnb’s Rise With Bets on Tech
Airbnb isn’t hurting hotels today in most markets. Unless it is.
STR, the market research firm, confronts that conundrum — as does the entire hotel industry.
STR says Airbnb’s precise impact won’t be clear until the home-rental booking startup shares more of its transaction data with third-party researchers. The firm’s researchers spoke on the issue Thursday and Friday in Nashville at the Hotel Data Conference, which is STR’s annual event for trade executives.
Industry Insight: New ways to find and book the perfect holiday rental
NEW YORK — Many travellers have grown accustomed to finding holiday rentals by going directly to sites like Airbnb, HomeAway and VRBO. But these days you can find and book a rental halfway around the world in ways you may not have considered, or even know about: On traditional hotel and airfare booking websites like Expedia and Hotels.com, through the hotel review (and now booking) site TripAdvisor or even in Google search.
Let’s begin with Google search. If you’ve used it lately to find a hotel, you may have been given the option to filter those results for vacation rentals.
BEYOND PRICING ACQUIRES SMART HOST, OFFERING REVENUE MANAGEMENT TOOLS FOR VACATION RENTALS
Vacation rental revenue management firm, Beyond Pricing has acquired Smart Host – another travel technology startup, focused on introducing flexible pricing strategies to vacation rentals – for an undisclosed amount.
Beyond Pricing grants its users with free and open access to data of nearby properties through its new Nearby Listings feature and Health Score, allowing owners to see how their prices measure up to surrounding competitors in the vacation rental space.
The acquisition will see Beyond Pricing incorporate Smart Host’s technology and features into their own platform, to enable vacation rentals with better dynamic pricing capabilities.
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