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Marriott Competing with Airbnb… UP 800%!!

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SUMMARY:

Is there more competition with Airbnb now? How is Marriott trying to compete and join the short-term rental industry, and should we be worried? 

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There is a really interesting phenomenon going on in the short term rental space right now. Some of you might be aware of this, but others might not know that back in 2019, Marriott started slowly trying to compete with Airbnb. They are one of the largest biggest hotel companies in the world with millions of rooms around the world. After a long time fighting Airbnb and fighting the short term rental industry, they started to take the approach of, “if you can’t beat them, join them.” So in the fall of 2019, they launched their own platform to list entire properties, similar to Airbnb. So people that are loyal to the Marriott brand can book a property directly with them instead of a platform like Airbnb. If for whatever reason they don’t want to stay in a traditional hotel room, they can still stay with the Marriott brand and rent a different type of property or vacation rental.

So, is this a threat to Airbnb, for a large company to come into the industry? So right now, Marriott is a very small fish in a very large ocean. Airbnb has millions and millions of listings, and so far there’s only around 10,000 listings on Marriott’s platform. However, while the hotel industry is going through a crisis that’s bigger than they’ve ever experienced and are really hurting right now, the short term rental accommodation division of Marriott has actually grown between 700 to 800% in number of bookings and revenue. While that doesn’t mean a whole lot to a company as big as Marriott just yet, and doesn’t compensate for their losses so far with the tourism crisis, it does give us a really big insight into the industry and what is working and growing right now.

We are seeing that short term rentals, like Airbnb or other platforms, are actually doing exceptionally well, making a huge opportunity for those who are looking at getting into the short term rental industry or property management business. As we’re seeing an increase in the number of Airbnb bookings in the year-over-year compared to 2019, we’re seeing that they are doing very well in an industry that is really struggling. And we are seeing that there’s a huge amount of stability in this business model.

If you want to learn about how to leverage this opportunity right now, by managing other people’s properties on Airbnb, without any upfront expenses, technical know-how or previous experience, then I recommend checking out the training that linked down below. In that training, I will walk you through step by step by step exactly how you can get started managing other people’s properties and earn anywhere from 700 to 1200 dollars per property per month, in recurring monthly management fees. And while the opportunities are growing, it is a very dynamic industry that is changing – what customers and guests want are changing and the needs of hosts and property owners is changing.

So there’s a need to be flexible and adjust things to meet the needs of potential guests and property owners. For example, people are interested in flexible bookings with free cancellation policies, or places with a good internet connection for work. So it’s important to keep up to date with market and industry trends so you can continually meet the needs of your customers. You can check out the free training to learn more about how to benefit from this huge opportunity without experience or an upfront investment. 

VIDEO TRANSCRIPT:

What's up guys, it's James here and in today's video, I want to talk about a really interesting phenomenon going on in the short term rental space right now. Now a lot of you may already be aware of this and some of you may not. But back in 2019, marryat, started trying to slowly in their own way compete with Airbnb, a now leading industry giant in the accommodation space. Now pretty interesting is when you look at it, Marriott is one of the largest biggest hotel companies in the world, they have, you know, millions of rooms around the world, they're doing exceptionally well. And they kind of change their stance after a long time fighting Airbnb is fighting the short term rental industry, they kind of took the approach of, well, if you can't beat them, you might as well join them.

And so what they did back in the fall of 2019, is they launched their own platform that was set to list properties, entire properties, whether it's villas or larger, high end vacation homes, on a renting platform, similar to Airbnb. So now people that love the Marriott brand, they, you know, are loyal to them. They want to stay in a place that they don't want to stay in a traditional hotel room for whatever reason, they can go and book their own property through Marriott. So not using Airbnb. Now, you might think of that and think, Wow, it's actually a big threat to Airbnb, a company with that much power behind it being able to come into the industry and take a chunk out of it.

Well, it's not quite that easy. Right now, they're only about 10,000 listings on the platform. This is after this is right now in 2020. Compared to airbnbs millions and millions of homes, it's really just a small fish in a really very big ocean right now. What's interesting, though, is that, in the same time period, that Marriott and other hotel companies around the world have been struggling tremendously, and their whole industry has been going through, you know, really the biggest challenge that's ever ever faced since the beginning of their of their existence. The Division of Marriott that is focused on short term rental accommodation similar to the style of Airbnb has actually grown as much as 700 to 800%.

You heard that right, 700 to 800%, the number of bookings that they got in 2020, relative to 2019, were 700%. Higher, their revenue was 800%, higher. Now, this isn't a tremendous amount of salvation for Marriott, because like I mentioned, it's only a small division of their company. At this point, there's only 10,000 listings on the platform. And that has grown tremendously over the last year to get to that 10,000 point. But they've still got a very long way to go to be competing with the likes of Airbnb or other similar platforms like booking.com. And it certainly has a long way to go as well in order to actually compensate for the amount of losses they've had and the other divisions of their business.

But for us as Airbnb property managers, or Airbnb hosts, anyone watching this channel, I assume that you fall into one of those two buckets or that you would like to fall into one of those two buckets. It's a very interesting trend to be aware of, and to be cognizant of, because if you look at that, and see, okay, well, when traditional hotels are failing, and you know, most other businesses around the world, quite frankly, are failing. Short term rentals and Airbnb style platforms are actually doing exceptionally well, in most major markets. The reason for this and the reason we're seeing this just juxtaposition even in a company that has everything under the same roof, it's the same brand, it's just two different divisions of the Marriott company.

So it's not about, you know, one company out competing the other and just being better, it really is a difference in this style of accommodation. And the reason for that largely is that people don't want right now, to stay in crowded hotel rooms with shared ventilation, and lots of other people in them. they'd much rather stay in a property that is their own, where they're not going to be with strangers, they're not gonna be around other people, and they can check in remotely and not have to interact with anyone. It's a really great opportunity, really great chance for people who want to travel right now. And it presents a huge opportunity for anyone who wants to get into hosting or property management right now.

The trend is going upwards. Like I've shared in other videos, we've seen an increase overall in recent months and the number of bookings of Airbnb ease in the US compared to 2019. Just think about that for a second and overall net increase in the number of bookings on Airbnb in 2020. Compared to 2019 in recent months, that is kind of mind blowing, when you actually put it into perspective, when you look at the fact that flights are not offering that hotels are plummeting to the ground. You know, in an industry that's collapsing, Airbnb is still managing to grow year over year in recent months really, really crazy.

It lends itself to say that there's just an insane amount of stability in this business model, which again is likely why Airbnb is still considering and looks like they're actually planning and tending to public. offer their company later this year, they're going to be coming out with an IPO. And quite honestly, I'm going to be jumping on that as quickly as I can. Because the trajectory of this business looks really, really good. Now, what's even better than getting on the IPO is getting your stake in the opportunity. Before that IPO is it before things start to get even better getting in on the ground floor, like I've talked about in other videos.

Now, if you want to learn about how to leverage this opportunity right now, by managing other people's properties on Airbnb, without any upfront expenses, any hard costs, any technical know how or any previous experience, then I recommend checking out the training that I've linked down below. In that training, I'm going to walk you through step by step by step exactly how you can get started managing other people's properties, meaning that you don't need to own the property, or rent the property, or put in any money have any technical skills or any previous experience, you can start co hosting and managing that property for someone else, and earn anywhere from 700 to 1200 dollars per property per month, in recurring monthly management fees. That's a really, really great opportunity.

Because right now, like I shared, the industry is growing. But hosts obviously are struggling. You know, most people that have their properties on Airbnb, whether it's vacation homeowners or real estate investors, they simply don't have the time and energy to put into hosting the property and doing things properly. Right now, the reality is the industry is more dynamic than ever. So as much as there's opportunity right now, you need to be adaptable, you need to be watching the market, you need to be making adjustments and changes as you go along. For instance, one really important factor on these platforms right now is flexibility of cancellation. I myself and I planning a trip over the next couple months and looking and really exclusively only looking at properties that allow for flexible cancellation.

You know, there's so much uncertainty in the world right now the guests want the flexibility to cancel. There's also a change in what guests are looking for in terms of amenities. And so you need to make sure that you're adapting your listings to reflect what guests actually want, you know, the proximity to downtown doesn't really matter if everything downtown is closed, they're probably more concerned with the internet speed that comforter, amenities in the property, things of that nature. So again, these different factors that make adaptability so important mean that there's a tremendous opportunity for you to really improve the results that most hosts are getting on the platform.

That's why typically when we manage a property for someone else, we can help them to actually increase their overall returns, even after they've taken out our management fees. It presents a really big win win opportunity for property owners can make more money on their property while still saving time. And again, in a time when there are problems everywhere for Airbnb hosts, and they don't exactly know what to do, and the market is still growing. That's really the perfect combination, the perfect storm for us to get into that market. Well, things are really, really hot, there's no better market to get into than one with a really big pain point that you can provide a solution to, but that the industry overall is also growing so that you can really get on and ride that wave.

So again, if that's something you're interested in, I've left the link in the description down below, where you can check out that free training and see for yourself the exact steps that you'll need to take to go from nothing, no experience no money down to actually starting to manage 510 properties on Airbnb and earn a full time income doing it. Hopefully this video has been really helpful to you. And if you want more details on the on this on this topic of marriage and everything going on with them. I'm gonna leave a link down below in the resources section description. So you can check that out and learn more for yourself. As always, if you have any questions, any comments, any thoughts that you want to share, please let me know in the comment section down below.

And if you liked this video and you've gotten value for from it, please take a quick second to give me one little thumbs up just tap that thumbs up button the little like button there give me a like on this video. It helps me out tremendously tremendously with YouTube's algorithm. So you can take a quick second to do that. I would really appreciate that as well. I'll talk to you next time. See you the next video.

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