•“Experiences” that gives individuals options for unique local tours and activities.•Over 1 million listings worldwide.5•Reviews of renters and rentals to help increase accountability and safety. •Online community of travelers and renters. •Easy to navigate website, and overall easy booking platform. •Elegant design, facilitates browsing rentals. •A greater variety of listing types, from treehouses to castles168•A wide range of rental prices, from cheap to luxury. •Offers greater flexibility for renting part of a property (such a single room)169•Local fine dining reviews and ability to make reservations170KEY FEATURES OF HOMEAWAY’S OFFERING171*Unless otherwise note the information gathered here was obtained via HomeAway’s website.•Over 1 million listings worldwide172•A limited number of referrals and reviews posted. •Easy to navigate website. •A wide range of prices on accommodations. •Can sign in with a Google Account. •More options for luxury rentals173•Only allows whole properties to be rented 167 168169170171 172173
68 3-Circle Map
69 Opportunities for Growth A key opportunity for Airbnb is making the Airbnb website and app a “one-stop-shop” for everything you need during travel. The first steps would be branching out into flight booking and local travel arrangements. It has been reported that Airbnb already is developing a way to add flights to it’s app, which would pull it closer in competition to sites like Expedia and Priceline.174Once at the destination this segment is looking for an affordable way to get around. A partnership with a company like Uber could satisfy this need without having to switch between apps. Not only will the addition of transportation add value for this segment, it will also add another revenue stream for Airbnb. Features that can be Eliminated Currently, Airbnb offers a catalog of popular local restaurants with average estimated per person costs of $40 or above.175The segment of Low-Budget/Culture Seekers tend to not value luxury experiences or rentals.176This segment is looking for local and affordable eateries, not the expensive tourist traps. In order to appeal to this segment Airbnb needs to refocus this feature, or strive to include the unique small places that this segment seeks out. Airbnb also recently announced “Beyond by Airbnb,” an extension of Airbnb that offers luxury full-service rentals.177Beyond includes only the most expensive and luxurious rental homes that are paired with experiences for a “elevated” travel experience. This is diametrically opposed to what this segment is looking for in travel accommodations.
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