Houston, we have a problem.
Booking.com on Its 'Subpar' U.S. Short-Term Rentals Biz: 'We're Not There Yet'
02.08.2024 - 20:09 / skift.com / Dennis Schaal / Glenn Fogel
Booking Holdings CEO Glenn Fogel said he’s disappointed that the company’s U.S. short-term rental portfolio doesn’t “have near the number or the type of home accommodations in the U.S. to be fully competitive.”
An analyst during Booking’s second-quarter earnings call Thursday asked Fogel whether Booking.com has achieved enough parity — presumably with Airbnb — in the U.S. to lean into marketing to wrangle market share gains.
Fogel replied that Booking.com isn’t “at that level at all right now” in terms of U.S. supply despite 7.8 million short-term rental listings around the world.
“We won’t be spending huge amounts of money on a subpar product,” Fogel added.
Fogel said if you search Booking.com for a rental in The Hamptons, a luxurious Long Island, New York collection of villages and hamlets, there’s probably not many short-term rentals there “compared to some other people,” meaning Airbnb and perhaps Vrbo.
“I don’t want that to be,” Fogel said. “I want us to have as many, if not more, and I want it to be easier for them to come. I want to trust that coming to Booking is a better way to get that summer rental. And we’re going to work on that, and that’s good for us, an opportunity for us. But your answer is correct. We’re not there yet.”
In the second quarter and at a global level, Booking.com reported progress in its “alternative accommodations” business, which grew faster than the rest of the company. Booking.com’s room nights in the sector jumped 12% year over year, and short-term rentals were 36% of its accommodations bookings, up 2 percentage points.
Booking.com officials argue that they offer a unique value proposition to travelers because their accommodations’ results are a mix of hotels and short-term rentals, unlike Airbnb and Vrbo, which mostly offer apartments and vacation rentals. Airbnb has a smattering of hotels, as well.
Airbnb declined to comment on Booking.com’s short-term rental business, or Fogel’s statements made Thursday.
Analytics Firm AirDNA did a report on Booking.com versus Airbnb on a global basis. Here’s a graphic from the report.
The website maxtravelz.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
Top Autors
Popular Topics
nytimes.com
13.08.2024 / 12:42
Not Hollywood Royalty? Here’s How to Enjoy Lake Como on the Cheap.
Lake Como, in northern Italy, conjures images of glistening blue water, opulent villas and villages where celebrities like Taylor Swift, Travis Kelce, and Amal and George Clooney try to dodge the paparazzi.
insider.com
11.08.2024 / 23:04
Disney World is entering its villain era
Disney Experiences Chairman Josh D'Amaro unveiled ambitious plans for Walt Disney World, including new attractions and in-park destinations.
skift.com
09.08.2024 / 22:42
Vacasa Lost 9% of Its Vacation Rentals in the Last Year
Vacasa was managing 40,000 homes at the end of the second quarter, 4,000 fewer than a year earlier, as owners express displeasure with rates and revenue, as well as with owner-company communications.
skift.com
09.08.2024 / 15:08
Pattaya Wants to Trade Its Nightlife Hub Reputation For a Family-Friendly One
The coastal Thai city of Pattaya is embarking on an ambitious rebranding effort, aiming to distance itself from its associations with sex tourism and illegal gambling into a destination that appeals to families, while also positioning itself as Thailand’s first casino city.
travelandleisure.com
08.08.2024 / 18:18
Delta Is Shaking Up Its NYC Schedule This Fall
Delta Air Lines is shuffling its schedule out of New York City this fall by cutting three different routes and adding one more.
lonelyplanet.com
07.08.2024 / 20:14
Ultimate weekend in Manhattan: 3-day itinerary of its greatest hits
Aug 7, 2024 • 7 min read
skift.com
06.08.2024 / 19:09
Booking.com's Insights on Catering to The New Indian Traveler
In this episode of the Skift India Travel Podcast, Booking.com’s Country Manager for India, Sri Lanka, Maldives, and Indonesia, Santosh Kumar, and Skift Asia Editor, Peden Doma Bhutia, dive into the latest trends, insights, and initiatives in the travel industry. They focus on inclusivity and the evolving behaviors of Indian travelers.
thepointsguy.com
06.08.2024 / 18:07
How boutique hotels and bagel-making classes can help you earn rewards with Booking.com
Social media icon Brooklyn Peltz Beckham, a photographer and chef who also happens to be the son of a Spice Girl and one of the world's most famous soccer players (you know, Victoria and David Beckham), wants you to take a trip to New York City.
insider.com
02.08.2024 / 10:26
Turkish Airlines wants to go toe-to-toe with its Middle Eastern rivals. See inside its luxurious new business class suites.
Turkish Airlines unveiled a new business-class product called Crystal at the Farnborough Airshow in July.
breakingtravelnews.com
01.08.2024 / 06:31
Rotterdam Welcomes Its First Doubletree by Hilton
DoubleTree by Hilton Rotterdam Centre opens its doors to guests following an extensive re-brand of one of the city’s iconic, landmark properties. The 265-room hotel, located at the base of Rotterdam’s Erasmus Bridge, is the latest addition to the growing DoubleTree by Hilton portfolio in Europe, and marks a first for the popular hotel brand in the Dutch city.
breakingtravelnews.com
01.08.2024 / 06:25
Pittsburgh to Welcome Music Legend Bruce Springsteen to the Stage
For the first time in eight years, Bruce Springsteen and The E-Street Band are set to rock Pittsburgh’s PPG Paints Arena on Thursday 15 and Sunday 18 August 2024, 7:30PM. Performing to a crowd of over 70,000 fans at the British Summer Time Festival in Hyde Park last month, avid fans can follow Springsteen on his U.S leg of the tour and fly direct to Pittsburgh with British Airways from £543 return.