New Airbnb tool allows hosts to estimate potential income
AIRBNB, Inc., operator of an online marketplace for lodging, announced on Wednesday a new tool that allows prospective hosts to estimate their potential monthly income.
“The interactive tool computes the estimated income through inputs for geography, type of listing and space and factors in prior Airbnb booking data in the area,” Airbnb said in an e-mailed statement.
Airbnb’s “What’s My Place Worth” tool is expected to help Filipino hosts calculate their potential monthly once travel resumes.
“As the ongoing COVID-19 (coronavirus disease 2019) pandemic continues to impact local communities and businesses in the Philippines, the Philippine Statistics Authority recently reported that some four million Filipinos remain unemployed in January 2021,” the company noted.
“For many, sharing their homes on Airbnb has provided a COVID social safety net, helping them to stay economically afloat in these unprecedented times,” it added.
It said in Baguio City alone, the estimated monthly income of P11,491 from hosting can be a significant “supplemental revenue” for residents there.
“The earning estimate for Baguio City hosts stated… is for an entire home listing with a guest capacity of six. It is based on booking data from the past 12 months for that area, and calculated by multiplying a nightly price by the total nights of occupancy,” the company said.
According to a recent survey commissioned by Airbnb, six out of 10 Filipinos have been looking forward to having family vacations this year.
“Travel with immediate and extended family emerged as the number one reason for domestic travel amongst Filipinos, with 88% of all respondents saying they felt more connected with their families during the pandemic,” the report noted.
“Health and safety protocols (64%) and affordability (61%) are top considerations when choosing travel accommodation. Over half of all respondents (53%) also expressed preference for traveling to less crowded, off-the-beaten-path destinations, away from mass tourist hotspots,” it said. — Arjay L. Balinbin
