Business

[Richard2048]

I would like to know how others are doing in business. My Business has dropped dramatically, and I would like to know how others are doing and if there's has drop also.

[Mike-And-Jane0 · Accepted solution]

@Richard2048 we are slightly up on last year but bookings are coming in more last minute and for shorter stay lengths meaning more work for us.

[Richard2048]

Mike @ Jane0, thanks for your response, thats what I am seeing with my business, i was a co-host for a Brand new 5br 3.5 bath house that was very slow, i even advertised the place and this didn’t help. any Idea what others are doing to grow there business

[Helen3]

Hi @Richard2048 

As a host or cohost a key part of setting up an STR business is that you do your market research before setting up a listing to see whether it's likely to be profitable . 

Did you look into supply and demand ? 

Did you have a clear idea about target guests and how to market to them.

Not all locations or all properties are suitable for STRs 

like Mike my bookings are up this year but it doesn't matter what it's like for others what matters is how the market is for your area and your type of listings .

as a cohost I only take on a property once I've done my market research and know it's likely to be profitable for the host and myself. 

[Michele2002]

Mine has been down since September of last year and I don't know if it is the case for other Airbnb in my area.  

Any advices?

Thanks!

[Russ531]

Although our property is ranked no.1 in London UK on airbnb our Views are down a whopping 80%YOY. Something isn't right with airbnb as many other hosts in London will confirm

[Renee7]

I am also having a drop in business. Revenue was down 50% in 2023, and 75% in 2024 (to date). I have been a superhost for 10 years and I have dropped my nightly price twice. There is still no improvement. I'm told this down-swing is an issue for other hosts as well, both in the U.S. and abroad. My current guests have been using alternative search engines to find lodging, as Airbnb charges guests a fee of 20% over the reservation costs, which is more than they can afford. This down-swing appears to be a trend, and I will need to search for alternative methods to list my property.

[Jena45]

@Renee7 do You know what other sites your guests use besides Airbnb?

[Renee7]

Google Maps (but homestays are not permitted to list). Guests also circumvent the popular search engines to avoid the fees altogether. They look for ways to contact hosts directly.

[David12811]

If your business has dropped dramatically, it can help to see how others are doing. In HR terms, issues like low employee morale, high turnover, or disengagement can contribute to a drop in performance. It’s also worth checking industry trends to see if other businesses are facing similar challenges, such as economic downturns or market shifts. Networking with other business owners can provide valuable insights into how they’re managing through tough times.