SWOT Analysis Airbnb – Airbnb SWOT Analysis: Airbnb is a hotel company. The company can be described as an American online market location and a hospitality service brokerage business that was established in 2008 and is located in San Francisco, California, United States. Airbnb is present in 192 countries. Airbnb members can take advantage of the service to provide or arrange travel lodging, accommodation, or homestays. Airbnb is not the owner of any properties, and neither does it organize events. It functions as an intermediary that pays a commission on each booking. The company was established when its founders put an air mattress inside their living room, which turned their home into a bed and breakfast. This was done in order to reduce the cost of renting which San Francisco had. The growth of Airbnb included AirBedandBreakfast.
Airbnb acts as an online community marketplace that connects travelers who have local hosts. The business allows users who rent their space to discover about accommodation and reserve it for a short-term rental. It also lets people make use of their extra space to generate extra income. It has transformed the tourism and travel industry. It allows hosts to accommodate guests with short-term accommodations and other tourism-related activities. The guests can find lodging by using a variety of filters such as the kind of accommodation and dates, cost, and even the location.
You can also search for specific kinds of vacation homes, home breakfasts, beds, or even beds. The hosts will provide information such as the cost, the location the number of guests staying, rules, home types, and many other features.
Hosts decide on the price with the help of Airbnb. Guest and hosts are able to leave reviews on their stay as well as on Airbnb. Hosts, as well as guests, could be verified using their internet presence by connecting to their Google and/or Facebook accounts.
In this article, we will look at what we call the SWOT analysis of Airbnb.
Airbnb fun facts: Airbnb offers around 6 million places to stay in throughout the world.
About Airbnb – SWOT analysis of Airbnb
Company: Airbnb, Inc.
CEO: Brian Chesky
Founder: Brian Chesky | Joe Gebbia | Nathan Blecharczyk
Year founded: August 2008, San Francisco, California, United States
Headquarters: San Francisco, California, United States
Annual Revenue: US$1.34 Billion
Profit | Net income: US$834 Million
Number of employees: 5,465
Products & Services: Listing and renting local homes | Vacation homes | Unique | B&B and Boutiques | Besides launching luxury products Airbnb Plus and Beyond by Airbnb
Competitors: Vrbo | Booking.com | Tripadvisor | Agoda | Expedia | TUI Villas | TravelStaytion | HomeToGo | Plum Guide | Google | Booking.com | The Plum Guide | Sonder | Homes and Villas by Marriott International | Casamundo | Tripping.com | FlipKey | OneFineStay | Luxury Retreats
SWOT analysis of Airbnb – Airbnb SWOT analysis
SWOT Analysis Of Airbnb is brand-based. SWOT Analysis of Airbnb evaluates the brand’s strengths, weaknesses, opportunities, and threats. Advantages and disadvantages can be attributed to internal factors while opportunities and threats can be attributed to external factors. We will be discussing Airbnb’s SWOT Analysis. Below is the detailed SWOT Analysis of Airbnb.
Let’s talk about Airbnb’s SWOT assessment.
Strengths of Airbnb – Airbnb SWOT analysis
- The well-established brand: Airbnb is a well-established Brand Airbnb is a well-known brand that has a great image on the streets where it operates. Airbnb’s business model allows the company to compete at affordable prices when compared with hotels and customers.
- Product Extension: The company Airbnb has extended its offerings beyond its main accommodation options, and is aiming to create an end-to-end travel platform. It has also expanded its operations to allow guests to book guided tours including cooking classes, guided tours, and meet-ups.
- A cheaper alternative to Hotels: Airbnb is seen as a less expensive alternative to hotels and other resorts. Prices for services are affordable and are dependent on their location. Customers are able to shop around and pick the location that best fits their budget.
- World Recognition: Airbnb is recognized globally and they have a lot of guests and hosts as guests.
- Airbnb Plus: Airbnb Plus Airbnb Plus is a distinct feature offered by Airbnb which was introduced in the year 2018. The numerous options available that are available under Airbnb Plus are additional amenities similar to those offered in hotels, from standard to luxurious listings.
- Airbnb Collections: Airbnb Collections which was launched by Airbnb in the year of 2018, offers homes that are perfect for a particular occasion. The different options in Airbnb Collections include Airbnb for Work Airbnb for families, Airbnb for work, and even homes for gatherings, dinner parties, and weddings. Airbnb for work has a range of tools for companies who manage numerous travel-related trips of their employees.
- Facebook and Twitter Presence: Social Media Presence Airbnb is present on numerous social media platforms in order to achieve maximum exposure among its customers.
- Great Customer Support: Good Customer Service Airbnb offers good customer service 24 hours a day, which is among the major advantages of the company. If they can make their customers satisfied, they have lots of customers for them.
Weaknesses of Airbnb – SWOT Analysis Of Airbnb
- Laws as well as Regulations Infractions: The company Airbnb has to contend with the consequences of breaking various laws and rules.
- Hosts who are poor: A poor host can harm the reputation of the company. If in any way hosts fail to comply with the Airbnb guidelines and rules, they could face consequences. If the host has poor reviews and backlash via social networks, this smacks the profits of the business in the present business environment.
- It is easy to copy its Business Model: Its Airbnb company model can be simple to replicate, but it is the biggest reason for its success.
- The objectivity of Guest Review System: The Objectivity of Guest Review System Airbnb has designed reviews, in which guests and hosts are able to review each other’s reviews after the end of their stay. Guest and hosts aren’t allowed to view reviews if they both leave reviews.
- Afflicted with higher costs: Airbnb is criticized for higher prices Airbnb has been accused of creating a price for the rental. The rent prices in some regions have increased because of being kept off the rental market for long-term stays and as a result, they receive more expensive rental rates for short-term lodging via Airbnb.
Opportunities of Airbnb – Airbnb SWOT analysis
- Expand into the emerging markets: The company Airbnb is able to grow into new markets with less competition. This is a huge opportunity for business potential.
- Expand the product: It is possible that Airbnb could extend its assortment of products and services. This will allow them to serve their customers better. For instance, they could enhance its service by offering information on travel as well as car rental services.
- Mobile App Use: As the use of mobile apps increases, Airbnb has initiated a mobile app to allow guests and hosts to connect easily.
- Low Cost as well as Personal Touch: Airbnb’s low cost and personal touch allowed Airbnb to increase its visibility to the public and generate more revenue.
Threats of Airbnb – SWOT analysis of Airbnb
- Laws and regulations for every country: Airbnb services are offered in more than 192 countries. Every state and nation has had their own rules and laws to follow. The business should be careful about relying on guests and hosts to ensure they can comply with local regulations.
- Lawsuits: Airbnb is currently being sued and fined around the globe in locations such as New York, Florida, and others. In Spain, the Barcelona Authorities have fined the Airbnb company around 30000 euros for violating tourist laws. The New York Authorities have fined Airbnb for operating illegal hotels.
- Competitors: There are many competitors for Airbnb, such as VRBO Tripping, tripping.com, and many more. This could mean a difficult time for Airbnb. Airbnb company.
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Overview Template of Airbnb SWOT analysis
In summary, Airbnb’s strategy for market success is based on a combination of customer understanding, operational excellence, and customer satisfaction. In order to provide more convenience, and at less cost than its competitors, Airbnb relies on its excellent operating system.
Airbnb focuses on its rentals, adverts, and IT systems to enable its lodging system to be automated extensively.
- Continued growth through solving legal problems and legal precautions
- pursue growth through celebrity alliances and partnerships
- Growing revenue with a better reputation through the new establishment enlisting
With this Airbnb SWOT analysis, the company highlighted each of the strengths, weaknesses, opportunities, and threats of Airbnb on the market. To increase its market share and financial stability, Airbnb must take vigorous action. However, in spite of the negative factors, it is without a doubt a symbol of progress and innovation.
This is the SWOT analysis of Airbnb. Please let us know if you have additional suggestions to add.
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