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Is Airbnb Doing Well in 2021?

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SUMMARY:

Today, we’re going to look at a common question I get asked, which is “Is Airbnb doing well in 2021?” Find out in this video.

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When looking at that question, most people are actually asking “are the individual hosts on Airbnb doing well in 2021?” That definitely depends on which hosts you are asking. The hosts that are doing well are doing exceptionally well, and they are very happy with their performance. The hosts that are not doing well are really underperforming and they’re seeing very poor results. We are seeing some big differentiators of what is setting apart the hosts that are doing well versus the hosts that aren’t, similar to what we see during the low season of the year. 

What it comes down to is to have your listing dialed in and properly optimized. That means you have to focus on the types of guests that are booking your place right now. And in 2021 we are likely going to see a slow ramp-up in pricing, because more and more travel is starting to happen now and that trend is likely going to continue throughout the rest of 2021 as borders start to open back up, and some international travel starts to get going again. The smart people are going to be the ones that are increasing their pricing gradually over time and keeping their pricing dialed in, so that when there is more traffic you can get your prices back up to where you want them to be.

So, is Airbnb doing well in 2021? It isn’t much different from what we were seeing earlier in 2020, but things are starting to round the corner and we are seeing more bookings coming in. Objectively, we can say that things are doing a bit better right now, but it still depends on how well positioned you are as a host to really take advantage of that. If you’re able to implement what you’re seeing in this video and my other videos, you’re going to come out with success. And if you want to make sure that you are one of the top earners, and your prices are consistently optimized to make sure you’re hitting your KPIs, you want to make sure to keep in tune with the types of guests that are booking your property and shift and evolve with the industry changes in this coming year. Right now, that is most often domestic travelers, but moving forward you will likely want to start updating your listing for international travelers. 

If you want more in-depth and step by step training on how to do this, how to position your Airbnb listing for continued success in 2021, check out the free training in the links below. There’s one for hosts looking to improve their own performance listing, and then there’s another one geared more towards people who want to start earning a full-time income managing other people’s properties on Airbnb.

VIDEO TRANSCRIPT:

What's up guys? It's James here and in today's video, I want to talk about a question that I'm seeing pop up more and more recently, which is, is Airbnb doing well in 2021? Now to answer this question, we have to look at a number of different things.

Now before I jump into that, I want to highly encourage you guys to check out the free trainings, I've linked in the description down below if you haven't done so already, we've got trainings for hosts, as well as people who want to start managing properties for other people on Airbnb. So definitely give those a look. Check those out to get some more extensive training what I'm going to be able to cover in this quick short video, but I've been seeing the question pop up quite a bit more is Airbnb doing well in 2021. And I want to give it some bit more of a thoughtful answer for people here.

Now is Airbnb doing well, in 2021 is a little bit of a difficult question, because usually we're looking at our is the our individual hosts doing well, and that very much depends on which hosts you are asking the probably the best answer is that it's similar to a low season, the hosts that are doing well are doing exceptionally well, and we're doing very well we're very happy with it. The hosts that are not doing well are doing very poorly, and they're really underperforming.

And there are some key differentiators of what sets apart someone who wants to who's doing very well right now versus someone who is not doing well right now on Airbnb or other short term rental platforms. And as with a low season, it really just comes down to how optimized you are, I put together a whole bunch of other videos on this channel that you can check out as well. I've also got this video in a playlist, you can check out the rest of that playlist to get more training and more kind of my specific thoughts around everything going on in the world right now.

But really, what it comes down to in 2021 right now is that you really just have to have your listing dialed in and optimized. What I mean by this is that you have to have your listing optimized for the specific specific types of guests that are booking your place right now. And that you need to have your pricing dialed in, that's probably the number one thing of 2021 that we're going to see here is that you're going to see a slow ramp up in pricing. Because there's more and more travel, it's starting to happen right now. And that trend is likely going to continue throughout the rest of 2021 borders are going to soon start to open back up, we're going to see potentially some in some international travel starting to get going again.

And so we're going to see prices start climbing. Now what's going to happen is a lot of people are going to be starved for bookings, the people that have been sitting around waiting and haven't been optimizing their properties properly. And they have been underperforming lately, they're just going to be snatching up bookings at whatever rate they can get, the smart people are going to be the ones that are increasing their pricing gradually over time and keeping their pricing dialed in. If you know what occupancy rate to aim for, then you know how to dial in your pricing consistently.

So that as we get more and more traffic, you can get your prices back up to where you want them to be. And obviously for a lot of us, we're actually getting really good bookings right now. So we're not super starved for More Bookings, because you know what to do, then even right now, while demand is still relatively low, and it's mostly domestic travelers that we're booking for, you can still get a great number of bookings, and get some really great rates. If you do that, effectively, they're gonna be really well positioned to take advantage of the upcoming increases in domestic travel and international travel as things start to open back up again. So the big question is Airbnb doing well in 2021?

The answer is unfortunately, not super clear cut, it's that it depends. It's not too much different from what we were seeing earlier on in 2020. But we are starting to round the corner and see some more bookings coming in. So objectively, it is doing a little bit better right now. But it still does depend on how well positioned you are as a host to really take advantage of that. If you're still sleeping on the sidelines, then chances are you're still underperforming.

But that makes a really great opportunity for really anyone watching this video, if you're watching this video, I know that you're at least putting some energy and some effort into increasing and improving your hosting. And so if you actually just implement what you see in this video, what you see in other videos, then you're gonna come out with some great success. And in terms of tactical tips to be able to be one of those top performers going forward, you want to make sure that you upgrade your you update your prices consistently to make sure that you're hitting your KPIs, you want to make sure that you also just keep in tune with the types of people that are booking your property, that's likely going to start to shift and evolve over the coming months here. And so you want to make sure that your listing is optimizing for the right type of guests.

As we've talked about in depth on other videos in this trend on this channel. Right now, you want to be optimized for domestic travelers, but throughout the next several months, you might want to start updating that over to international travelers. If the borders do start to open back up again, if you stay on the ball with that and your pricing updates, then you're going to be really really well positioned to have a successful 2021.

Now if you want more of the in depth step by step tactics for exactly how to do this, then again, there are some free trainings the link down below in A description that you can check out to learn more so that you can really get some step by step guidance. This video is just more of a general video to answer the question in a more general sense, but again, if you want the step by step strategies, then I highly recommend checking out the trainings down below. There's one for hosts who are looking to improve their own performance hosting.

And then there's also another free training specifically geared towards people who want to start earning a full time income managing other people's properties on Airbnb, how you can do that how you can perform well right now pick up clients right now grow your business right now. We've got tons of students who are growing their business tremendously, even in spite of everything going on all the craziness in the world right now. So I highly recommend checking those out. And I'll see you next video.

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