Airbnb and Vrbo hosts are in the middle of a summer slump, and for many, securing their share of bookings means finding new ways to stand out from the competition.
Increasingly, operators are capitalizing on a “niche” that piques renters’ interest — while some consider leaving the rental business altogether, Insider reported.
Why is the rental market so crowded right now? It’s the “perfect storm” of decreasing demand and increasing supply, courtesy of the remote-work, domestic-travel boom that peaked amid the pandemic and has waned since, according to Architectural Digest.
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Now, hosts are getting creative by finding the niche that sets them apart.
Think the “Barbie-ish” Airbnb, complete with pink decor and plenty of social media opps, that’s a hit with bachelorette parties in Tempe, Arizona, or this $8,000-per-night Brooklyn brownstone that’s filled with “museum-quality” artwork and fully outfitted for filming.
But even small touches can make a big impact.
Missouri Airbnb host Ryan Villines told Insider he designed a “romance package,” featuring items like chocolate-covered strawberries, heart-shaped rose-petal displays and wine starting at $100, to highlight his one-bedroom property on the Lake of the Ozarks — and three engagements have unfolded there to date.
Arizona host Jen Kelman provides guests with fresh eggs to capture her cabin’s “country feel,” per Insider. Still, there’s so much that can and does go wrong with hosting’s many variables, and she’s considering a sale.
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Both Villines and Kelman told the outlet their profits are down year over year — from $7,000 to $5,900 and $5,400 to $4,000, respectively.