Are you evaluating promising alternate accommodation hosting business for your apartment/homestay?

alternate_accommodation
Why host

With a boom in travelling concept moving online to online ticketing Agents(OTA) fresh opportunities of earning have sprouted by setting alternate accommodation hosting business.

The internet helps backpackers, groups, families book cheap and best properties to stay.

Hosting groups fosters a sense of satisfaction. You meet new people now and then. Interact with them. Sharing of experience happens. Many people love cooking and doing activities with their groups. They even plan their entire itinerary.

What alternate accommodations can all be hosted?

Your hosting property can vary depending on the platform that has been chosen.

Right from your apartment 1BHK, 2BHK,3BHK OR 4BHK, studio apartment, Villa, A room in your home itself (homestay), exports container converted for stay, all can be included as a part of the property for hosting. People have unique properties on the Ganga Ghat of Varanasi to the Highest Mountain range in the valley. There are such restrictions on Short Term Rentals.

Where can all be hosted?

Many established websites offer a listing of your property, namely

Airbnb

airbnblogo

https://www.airbnb.co.in/host/homes

Booking.com

bookinglogo

An Amsterdam based startup began in 1996 has grown in a major giant of the current travel industry. By making bookings easier for guests and providing technology-based solutions for its customer base, they provide booking for hotels to homes in various categories. Having a flexible system to handle multi-language platform it offers 43 languages support. A great extranet and a convenient app system help both the guest and the host alike. In India, they lack a proper payment gateway to handle payment which is one of the biggest concern for its hosts.

http://www.booking.com/

Makemytrip

mmtlogo

Makemytrip an Indian based startup has become a brand in itself. With a collaboration with “www.goibibo.com”, they provide one of the largest customer-based with hotels and homes booking. Having a robust customer-oriented service, they can help you reach traveller of your required type. A mature payment and recovery system is what makes it a genuinely acknowledge platform. Promoting homes and apartment bookings is on their hit list. All in all, a must include a platform for your hosting.

http://www.makemytrip.com

Agoda
agodalogo

Agoda, a Singapore based e-commerce startup, has ventured into hospitality recently, especially into getting hosts for displaying their property into home and apartment category. They have a decent reach of customers and have some unique methodology of offering last deals and discounts. Their payout system still lags maturity and might have a delay of even a month.

http://www.agoda.com

Tripadvisor

talogo

Tripadvisor started as a review based site and diversified into taking bookings for your property. Their customer visit might be considered the highest amongst all Online Ticketing Agents(OTA). They have a systematic approach towards onboarding any property on their platform. They follow a highly strict policy for your activity on their site. Multi-language support and a responsive website have helped its customers for being loyal to them.

http://www.tripadvisor.com

These are a few giants already involved in providing platforms for your apartment/homestay STR.

How to check if hosting can be successful/challenges

Evaluation of the location is critical before going ahead with any listing. Many websites have an engine to estimate an income that can generate from the details that you provide them. Please check it out yourself.

One needs to do competition analysis by visiting each and every site with the different categories of STR available. The rates might be season dependent, number of PAX dependent or types of STR dependent.

Managing multiple sites inventory at once – The primary issue is since you do not have various inventory for your STR, but you have it’s inventory uploaded on numerous channels. You cannot afford to have double bookings of your STR from different channels for this you need to maintain inventory.  To elaborate on this, we shall be coming up with an exclusive article as soon as possible.

One needs to maintain high standards – Housekeeping and maintenance of the property form an essential part. Trustworthy cleaning staff can do wonders for your reviews. A team comprising of a plumber, electrician, an instrument guy, a PR manager at hand will be required.

Local laws and regulations must be followed and updated time to time to avoid any disturbance.

Conclusions

COVID19 has hampered the travel industry deep and hard. All are sceptical about the future of hotels and alternate staying booking options. Almost all the OTA’s are on the verge of laying off employees. Once the lockdown is over, we all expect wanderlust should tickle the travellers, and things shall improve for all.