Booking.com has continued to expand as a reservation source in the short-term rentals space – and it's often at the expense of Airbnb.
According to Key Data, 47% of reservations in Europe come from Booking.com, while 40% come from Airbnb. Eleven percent of bookings are direct, while a small percentage come from Vrbo.
Since 2021, in Europe, Booking.com’s market share has grown from 32% to 47%, while Airbnb’s has dropped from 43% to 40%. Direct bookings have fallen from 23% to 11% – but this is likely linked to the COVID-19 pandemic. Vrbo’s market share, meanwhile, has remained flat at 2%.
In the United States, Airbnb accounts for 41% of bookings, while 29% are direct, and 22% come from Vrbo. About 8% of reservations come from Booking.com presently – but this is a marked increase since 2021. Over the last three years, Booking.com has almost doubled its market share of reservations in the US. Airbnb, meanwhile, has grown its market share from 34% to 41% in the US since 2021 – and this is mainly at the expense of Vrbo and direct bookings. Vrbo’s market share is down from 26% to 22%, while the number of direct bookings is down from 35% to 29%.
On the European scene, property managers in the UK are achieving many more direct bookings than their counterparts on the continent. Direct bookings account for 22% of reservations in the UK, but only 10% in Italy, 5% in both Spain and Portugal, and 4% in France.
Other key findings from the report:
Stay lengths have been shortening due to market conditions.
Small properties with only one bedroom are increasing in popularity in Europe.
Europe and Asia are showing positive growth in rates in 2024.
How is 2024 for you so far? Has Booking.com grown as a reservation source?
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