Competitive Set Analysis: Hotel Class Section ✓ Solved

Competitive Set Analysis Group #: Class Section: Your Hotel

Competitive Set #1

Competitive Set #2

Company Information

Hotel 1

Hotel 2

Hotel 3

Hotel 4

Hotel 5

Hotel 6

Hotel 1

Hotel 2

Hotel 3

Hotel 4

Hotel 5

Hotel 6

Name

AirBnb

Tripping

Flipkey

Homeaway

VRBO

Homestay

Turnkey

Mailing Address

888 Brannan St.

Website

tripping.com

flipkey.com

homeaway.com

homestay.com

Age of Website

9 Years

8 Years

10 Years

12 Years

Brief description of company

Airbnb is a trusted community marketplace for people to list, discover, and book unique accommodations around the world. Tripping.com partners with and displays listings from booking websites. Users can search by price, ratings, location, and a long list of features and amenities.

FlipKey is a vacation rental marketplace with more than 300,000 rentals around the world. FlipKey is part of TripAdvisor Rentals, a leading vacation rentals marketplace. HomeAway, Inc. offers a comprehensive selection of rentals for families and groups to find accommodations such as cabins, condos, castles, villas, barns, and farmhouses. Vrbo is essentially part of the same company as HomeAway, but still requires using a different website to search.

Total Listing Rental Types during 12/17-12/31.

Shared Rooms

Private Rooms

Entire House/Apartment

Price (On Average)

Shared Rooms Rate $129

N/A

$213

$223.70

Standard Private Rate

$145

$256

$253.20

$263.40

Standard Entire House/Apartment Rate

$334

$218.36

$276.80

$283.10

Total San Francisco Average price

$252 Per Night

$227.8 Per Night

$247.7 per night

$256.7 Per Night

Rental Size (1.5 Bedrooms/4 Guests on Average)

(1.5 Bedrooms/4 Guests on Average)

Studio 609 rooms

One Room 1766 rooms

Two Rooms 1156 rooms

Three Rooms 462 rooms

Four Rooms 119 rooms

Five or more Rooms 42 rooms

% 38% Active Hosts

Super Hosts 1491

N/A

N/A

Multi-Listing Hosts 832

N/A

N/A

Single-Listing Hosts 3332

N/A

N/A

Customer Feedback

Total Reviews (Data based on sitejabber.com)

Directions Customers can take Uber and Bus. We can't see the exact location when we look for the house; it only shows up the area on the map. After customers have booked the house, it gives out the address and more check-in details to your email. It's private for customers and hosts. It provides a map on the website. It will show the direction on the website, and customers can easily find it.

Customer Comments

I did not book from the website, but during my research, I find this website is not convenient for me to search for the house because it's complex and not clear.

Safety: cash and securities, pets, personal liability, shared or common areas not protected.

Ease of Booking: Yes, mobile app and website.

Not convenient when you search for the parking permit/space; the host will list on the website to notify customers.

Age Requirement: None

Cancellation Policy

Airbnb allows hosts to choose among three standardized cancellation policies (Flexible, Moderate, and Strict) that we enforce to protect both hosts and guests. The long-term cancellation policy automatically applies to all reservations of 28 nights or more. There are a few more different types of cancellation than Airbnb. Hosts can choose Flexible, Moderate, Firm, Strict, No Refund. All cancellations must be made by 12 PM Central Standard Time (CST) on the specified day outlined in each given cancellation policy.

Host Requirement: Background Check: Public state and county criminal records.

Registration Requirements: Go to website to create house listing.

House Inspection: Check emergency equipment.

Local Laws Service: Airbnb requires a brief description of the host; it shows the customers' feedback to everyone who explores the website. The host will write a self-evaluation at the bottom of the page. It shows the host's response rate and the response time for every host.

Company Features/Attributes: Other features offered (be explicit - e.g., wifi, kitchen, heater, fans).

Paper For Above Instructions

The competitive set analysis is a vital process used in the hospitality industry, particularly for companies like Airbnb, Tripping, FlipKey, HomeAway, and others that operate in the vacation rental market. This analysis aims to understand various companies' strengths and weaknesses, market positioning, and unique selling points compared to competitors.

First, let's consider Airbnb. Established over nine years ago, Airbnb has established itself as a remarkably trusted community marketplace. It allows people to list, discover, and book unique accommodations globally. Its robust platform provides customers with numerous features, including user reviews, detailed host profiles, and a user-friendly interface. As per the data from Sitejabber.com, Airbnb has attracted a significant number of active hosts, with a reported 1491 Super Hosts offering rentals ranging from private rooms to entire homes, catering to diverse customer needs.

On the other hand, Tripping.com, with a webpage that has existed for eight years, operates slightly differently. It partners with various booking sites, streamlining the rental search process while providing expansive listing coverage. Users can benefit from comparing multiple rental options across the platform while gaining insights into average pricing and rental types available, particularly in metropolitan areas such as San Francisco. Despite its less dynamic platform compared to Airbnb, Tripping fills a critical niche by offering comprehensive listings drawn from other sites.

FlipKey, owned by TripAdvisor, boasts an extensive listing of more than 300,000 rentals, emphasizing customer reviews for quality assurance. With solid recognition, FlipKey remains competitive by being part of a trusted travel brand, thereby attracting consumers looking for vetted accommodations. The user experience is straightforward, with success stories commonly shared in customer reviews which enhance trust amongst potential users.

HomeAway and VRBO, now part of the same parent company, work closely in the marketplace to offer a cohesive user experience. Despite using different sites, both companies provide similar listings and options for travelers seeking vacation homes. With aggregated data showing an increasing trend in rentals, both platforms maintain a comprehensive selection for those looking for diverse accommodations, contributing to their sustained popularity.

Lastly, Homestay and Turnkey serve critical yet distinct segments within the vacation rental market. Homestay focuses on providing travelers with authentic experiences by matching them with local hosts, emphasizing cultural immersion. Meanwhile, Turnkey prides itself on offering a hands-off approach for homeowners looking to rent their properties while still ensuring guests enjoy high-quality service and accommodations. This clear delineation of services differentiates them in an overcrowded marketplace.

In terms of rental pricing, average price listings during peak travel dates (12/17-12/31) present a strong comparative snapshot. Airbnb's average nightly rate stands at $252, providing competitive pricing in relation to FlipKey's $227.80 and HomeAway's $256.70. This level of data analysis is crucial, as it provides companies with insights on pricing strategies and customer behavior.

The entire analysis culminates in understanding the array of services and feedback mechanisms in place across platforms. With Airbnb's flexible cancellation policies and community-driven safety measures, customers can book with confidence, knowing their needs are met while equipped with all necessary information prior to their stay. Comparison of cancellation policies across platforms reveals that Airbnb allows hosts to determine cancellation terms, while FlipKey and HomeAway offer a wider variability, enhancing consumer protection and appeal.

Customer feedback plays a significant role in the decision-making process for travelers. They often rely on peer reviews and ratings before selecting accommodations. The data from Sitejabber points out that consumers seek honest evaluations when booking vacation rentals, underscoring the importance of transparent customer relations across these platforms.

In conclusion, competitive set analysis for hotel and vacation rental markets is not merely about pricing; rather, it encapsulates the overall travel experience, customer safety, host credibility, and user experience across multiple platforms. Understanding how companies like Airbnb, Tripping, FlipKey, HomeAway, VRBO, Homestay, and Turnkey fare against each other allows stakeholders to make informed decisions while navigating the evolving landscape of vacation rentals.

References

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