Most guests pay a service fee under 14% of the booking subtotal, and at the same time, hosts are charged a 3% commission. The marketplace charges users only when there’s a confirmed reservation.Īirbnb is a two-sided marketplace, and it receives commissions from two sources upon every booking, namely from the hosts and guests. One of the main secrets of Airbnb’s success is that it’s completely free to sign up on the platform, and it’s free for anybody to list their property. Looking for an Airbnb-like WordPress theme? Check out RentalHive Airbnb’s Business Model
But let’s take a closer look at how it works and makes money. It’s a community-based online platform that has changed the way we travel and has become a world-famous company without even having its own property. The idea behind Airbnb was as simple as ABC – connect people who want to rent out their accommodations with those who are looking for a place to stay. When Airbnb first arrived on the scene, it was a game-changer. Probably, the most prominent example is Airbnb.
Okay, let’s get started! What Is a Rental Marketplace?Ī rental marketplace is a platform where people can rent real estate from each other.
We’ll walk you step-by-step through the whole process of setting up your website and briefly explain the most popular monetization models for your multi-vendor booking platform. Steps to Build a Website like Airbnb with WordPress.Prerequisites to Create a Multi-vendor Booking Platform.
Such marketplaces connect people who want to rent out their properties with those who are looking for places to rent in some specific area.īuilding your own property rental marketplace similar to Airbnb is not a tough deal anymore, and it can become a great source of revenue since any booking platform can be easily monetized in several ways.
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