What is Airbnb?
Airbnb is an online marketplace that allows people to rent out their homes, apartments, or rooms to travelers looking for a place to stay. Hosts can list their property, set their own prices, and communicate with guests through the platform. Guests can browse listings, book their stay, and leave reviews. The platform has revolutionized the travel industry by offering unique and affordable accommodations all over the world.
Airbnb's Market Statistics
Airbnb is revolutionizing the way people travel and experience the world, with over 4 million listings globally. As the company expands to encompass the entire travel industry, its focus is on developing new products and enhancing its platform to offer personalized experiences to its customers.
Additionally, Airbnb prioritizes sustainability and community-driven tourism as part of its future growth strategy. Stay informed about the latest market statistics for Airbnb with our comprehensive section.
- By the end of this decade, it is expected that Airbnb will achieve an annual revenue of$20 billion.
- Active Airbnb listings can be found in a minimum of 100,000 cities .
- Over 150 million individuals have utilized Airbnb to reserve vacation accommodations or experiences.
- Airbnb has a presence in more than 220 countries and territories, with available listings.
- Millennials constitute approximately 60% of Airbnb's user demographic.
The following graph maps Airbnb's business growth over its market timeline:
Guest User Features Required in an app like Airbnb
Initially, Airbnb offered a simple platform for finding affordable guest rooms when high-end hotel suites were not available. However, as it evolved, it introduced key features for guests to prioritize comfort and convenience. To offer an optimal user experience, guest users require various essential features in an app like Airbnb. From easy booking to secure payment options, we've got you covered.
Registration and Log-in
Guest users can register themselves using their contact information for profile verification. The app should be able to maintain active user sessions once the user registers and logs-in.
Search function in Airbnb app allows users to easily filter and find properties based on their preferred location, dates, price range, and other amenities.
Guest users view the listings available for reservation in this panel. These listings are made available based on custom searches or personalized feeds that the guest user has set up.
Guest users should have the ability to view each listing, to get information on services, charges, promotional photos, and feedback from other users.
Payment and Account settings
The payment section encapsulates the guest users payment information and preferred payment method. The account settings allow them to control account status, passwords, etc.
Admin Features Required in an app like Airbnb
Even an MVP On-demand lodging marketplace app needs Admin features to moderate the user activity espoused by the two consumer categories- hosts and guests. The Admin user account should act as a functional hub that helps supervise a good service experience for the customers. Hence, Admin users should pack features, such as:
The dashboard encapsulates all guest and user-related activity and details that concern the admin' s role. It carries notifications for processes that require urgent attention.
Admins supervise your marketplace to ensure a professional and positive experience for all users. They should be able to remove or ban users for violating terms & conditions.
Admin can add, update, and delete amenities available under different properties listed on the platform.
The feature provides the liberty to check all the previous and new bookings. There' s also an update on the current status of each reservation. These can also be edited, updated, or deleted.
Payments, promotions & offers
It allows admin to supervise payment-related activities, share promotional content as a part of marketing with the help of newsletters and blogs, and discount offers.
Reports & Analytics
This feature provides insights into host and guest behavior, occupancy rates, and earnings, allowing hosts to make informed decisions about their listings and pricing strategy.
Host User Features Required in an app like Airbnb
Airbnb's innovative business model has revolutionized the hospitality industry by enabling property owners to host their spaces for various lodging purposes. Starting as a P2P marketplace for bed-and-breakfast owners, it has expanded into a multi-category, travel-stay booking service. Airbnb offers features that cater to various tiers of lodging establishments, including hosts. These features enable hosts to manage their listings, communicate with guests, and receive payments seamlessly.
Registration and Log-in
Host users register and log-in after verification just as the guest users. After log-in they can list their property, populate its description with details, and begin customer engagement.
Inventory/ Showcase management
After listing their property, hosts should be able to manage the showcase with more search-engine optimized service descriptions, photos, promotional offers, etc.
The host will receive an immediate message as soon as the traveler requests a stay. This is in pertaining to hosts of unchecked demands, reservation updates, and approves.
Hosts supervise their property rental availability from this panel. Reservation management allows you to create, edit, update, and delete reservations for your listed property.
This panel houses all the details pertaining to your financial billing. Detailed digital invoices are maintained here to log your customer engagement history and respective billing process.
Account settings allow host users to maintain their account and service availability status, privacy, and security, etc. Hosts can also avail service support from here just as other users.
Revenue Model: How to generate money with an app like Airbnb?
Airbnb has rapidly scaled in its decade and half of existence. It has served as a vital platform for various scales of lodging businesses; and, has also served guest users in search of travel lodging. It has further diversified its services by catering to micro industries for personal/group/family vacations, as well as for business tourism. As a self-proclaimed ‘homestay network’, Airbnb' s digital service model has generated revenue with:
Guest Booking fee
The service provider charges a percentage of the booking fee the guest is liable to pay the host, for facilitating the platform.
Revenue from Hosts
The host is charged a revenue percentage of their earnings from every successful reservation order transacted on the platform.
Who are the probable competitors?
Airbnb's success has inspired many brands to launch their own On-demand lodging reservation services. These brands have innovated their service model with unique selling points to differentiate themselves. However, competition from established brands in this sector is intense. If you're planning to launch your own service brand, you must be prepared to compete with the likes of:
HomeAway is touted as a direct rival to Airbnb themselves. The brand made a name for itself in the vacationstay rental businesses with its assorted showcase of lodging facilities. Guests can reserve anything from cabins to farmhouses and bedroom studios. HomeAway inspired its competitors to meander from the traditional bed and breakfast model and definition and diversify inventory. HomeAway was founded in 2008 and generated nearly half a billion in revenue in the next half decade.
Trivago has made a name for itself in the On-demand lodging services industry with its variegated showcase. It lists diverse lodging facilities with bespoke configurations aligned with the host reservation parameters. This allows for a more personalized, guest-centric lodging reservation service. Trivago was founded in 2005; doubled its profitability between 2008 to 2012, and reached nearly a billion in revenue, as of 2019.
Flipkey is a subsidiary of On-demand travel booking giant, TripAdvisor. It started by doubling up as a companion service to those in search of vacationstays after successful travel bookings on TripAdvisor. Now it commands a large customer-base, also as a standalone On-demand vacation lodging reservations service. Flipkey has amassed a large vacation listing database and dedicated customer base thanks to TripAdvisor' s marketing as a step-stone.
Advanced features required to build an app like Airbnb
To create a truly competitive On-demand vacation stay reservation application that can scale rapidly and stand up against established brands, you'll need to go beyond the bare necessities listed for a functional, Minimum Viable Prototype. You should leverage advanced application features that enhance user experience and increase efficiency. These features may include:
GPS-powered maps are a crucial component of any application that aims to provide a user-centric experience. By accurately pinpointing your services on digital maps, you can help both hosts and guests. Hosts can use GPS integration to provide a genuine physical address, while guests can refer to integrated maps to navigate to the site. Offering GPS-powered maps ensures that your users have a seamless experience and helps to establish trust and credibility for your brand.
Social Media integration
Social media integration is an essential component of digital marketing. With Web 2.0, users can easily share their service experiences, providing valuable digital word-of-mouth advertising for your brand. By integrating social media into your marketing strategy, you can increase your brand's organic reach, promote your products and services, and offer tailored customer service that focuses on user needs.
Cloud computing is essential for any entrepreneur looking to rapidly scale their brand's growth. By using cloud-based database storage and servers, your app service can be fast, omnipresent, and highly accessible. With cloud computing, you can reduce hardware and software overhead and decentralize your application DevOps. This means you can opt for a pay-as-you-go model for operational resources and accelerate CI/CD for daily service operations. Embracing cloud computing technology is the way forward for businesses looking to remain competitive in today's digital landscape.
Support for Multiple Languages and Currencies
Providing multi-language and currency support is becoming increasingly important for businesses operating on a global scale. By offering support for multiple languages, you can make it easier for users from different geographies to use your services in their native language, which can lead to improved user experiences and increased customer loyalty. Additionally, providing support for multiple currencies can ensure that your users are able to account for accurate transactional breakdowns, regardless of their location. By prioritizing these features, businesses can improve their competitiveness in today's global marketplace.
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How much does it cost to build an app like Airbnb?
Based on the basic technological features required for an MVP version of an app like Airbnb, the subsequent technological stack requirements, we can estimate the cost of development in the ballpark of 50,000 USD to 65,500 USD. Please note that the nature of engagement opted by the client plays a large role in the hours that will go into building a bespoke On-demand vacation lodging service.
This approximate estimation also excludes any additional features you may ask to incorporate in your application logic. The bigger the list of additional features- the higher the cost of development. Entrepreneurs must also register the fact that the platform(s) they wish to target also have a say in the cost. If you wish to target multiple platforms then you can cut overhead with frameworks that support cross-platform application development. Alternatively, choosing to use native development stacks for launching different versions of your app on individual platforms will drive up costs.
WebClues Infotech's developers have a strong background in developing On-demand services. We have undertaken successful requirements for businesses of various scales. We can offer requirement-specific advisory and software engineering implementation based on your budget and business objective. Our portfolio boasts of successful On-demand vacation reservation marketplace applications we have launched for our esteemed clients.
Timeline to build an app like Airbnb
We provide a detailed breakdown of the timeline required to develop an Airbnb-like application, as well as a rough estimate of the costs involved in creating an MVP version of an on-demand vacation rental marketplace service. By outlining these details, we can help businesses better understand the development process and make informed decisions about their project.
|Framework setup and configuration||Setup and Configure Framework with Version Control||32|
|API For Mobile||200|
|Accommodation & Facility Management & Filter Management||80|
|Email Templates Management||8|
|Dashboard||No of User, No of Landlord, in graphical representation||16|
|Settings Management||Site Information, App Configuration & Information, Google Map API||32|
|Manage Language||English, Portugues, Spanish||24|
|Frontend - Mobile App User/Traveller||Web||Android||iOS|
|Splash Screen/Home Page||Splash screen for mobile home page for web||20||2||2|
|Sign Up||Social media (Facebook, Google) or Email||16||14||14|
|Login||Normal Login & Social media(Facebook, Google)||40||32||32|
|Forgot Password||Forgot password||4||4||4|
|Verification||Verify email with otp||4||4||4|
|Reset Password||Change password||4||4||4|
|Search||- advanced search system |
- Users should have an opportunity to set dates of their trip and select the number of guests
- After setting the date, users should see a list of suitable apartments/workspace with all the details like photos, descriptions, comments, and more.
- Users need to select the appropriate accommodation, check it's availability, and send the booking request
|Favorites||Users to add places they like to the list. After that, they can find these accommodations faster||12||14||14|
|Chats||After requesting a stay, the guest and Landlord can start a conversation to discuss all the details. It' s common to provide opportunities to send a photo or video. Additionally, developers can add various statuses like typing, read, etc.||180||160||160|
|Profile||Edit their profile and add required personal data like full name, age, sex, and so on||32||24||24|
|Payments||It' s good to offer users various payment methods to make this process easy and secure. Also, there should be opportunities to add and remove credit cards |
- Credit Card
- Debit Card
|Facility||User can check the Facility that is been provided by the landlord.||16||12||12|
|Discount||User can see the discount that the landlord is providing per day , per week, per year etc.||10||12||12|
|Order||The users choose the flat or house to stay in and can book it if the accommodation is available on the selected dates.||64||60||60|
|Notifications||Notification to get the status of booking||8||8||8|
|Contact US||- Contact us form submission||8||8||8|
|Frontend - Landlords Mobile||Web||iOS||Android|
|Sign Up||Normal Signup and uploading document||12||12||12|
|Forgot Password||Forgot Password||4||4||4|
|Verification||- Verify email with otp |
- Admin will also verify
|Reset Password||Reset Password||4||4||4|
|Manage Advertisements||- create an ad about accommodation |
- set the apartment type/workspace, the number of guests, and more
- uploading photos and videos and setting the price per hour, Per Space Permissions for Co Hosting.
|Facility Settings||Landlord can add the facility that the space is having or the landlord is giving||16||12||12|
|Discount Settings||Landlords can provide the discount per day, week, month, year, etc.||10||12||12|
|Manage Requests||- List of all request done by user or traveller |
|Manage GPS Setting||Clients can look through the location where they want to stay in to find apartments, exciting sights, cafes, etc.||20||20|
|Notifications||Notification to get the new order and delivery status||24||16||16|
|Contact US/Support||- Contact us form submission||12||12||12|
|Layout Design||App & Web Design||120|
|Design Integration||PSD/SKETCH to APP Design Slicing & HTML||180|
|Total Estimated Hours||4102|
The following is the technological stack opted and recommended by our expert application developers for developing an app like Airbnb:
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Which Industries are Benefiting from Online apps?
WebClues leads a multidisciplinary team of software development experts. We undertake bespoken end-to-end development requirements from business enterprises belonging to diversified domains. Our esteemed clientele has acquired our Progressive Web Application development services for:
On-demand healthcare services to deliver medicinal aid to patients. These telemedicine services have helped patients avail critical medical consultations that have had life-saving ramifications. Businesses can rely on online applications for On-demand pharmaceutical product marketplaces that deliver medicines to patients.
Food and beverage services can deliver services beyond the customer' s doorstep with online service apps. On-demand food delivery digitizes a necessity in our lives, making it easier to consume quality food without having to leave our house. Thanks to Progressive Web Applications restaurants and dine-out services can help their products reach the customer' s dining table.
Online entertainment apps have revolutionized digital entertainment in more ways than one. These days personalized OTT web programming is a more viable channel for consumer reach in the entertainment industry. The business model has emerged to be so profitable that its rival theaters and convincing production houses have launched products on digital entertainment platforms with established viewership numbers.
Gone are the days when we had to take the onus for packaging and postal delivery for any item we wished to deliver to another location. Online application services that provide On-demand delivery services are refining quality-driven packaging and delivery services. Users can have their parcel picked up, parceled, and delivered with quality assurance regardless of whether it is fragile, valuable, or otherwise.
In these fast times, few have the luxury to visit specialists for personal care and wellness. But, what if the service made itself available to customers On-demand? On-demand fitness, wellness, and personal care app services are taking the application market by storm. These applications witness millions in downloads as more and more workaholic, fast-food-loving generation users are becoming health-conscious in the process.
If you are worried that your whistle is not loud enough to hail a cab, then do not bother; your phone can hail a cab ‘better’! On-demand transportation services are a huge revenue generator. They provide users multiple transport options suitable to the nature of their journey; offer secure cab service availability; facilitate digital payment along with promotional offers to boot.
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