AirDNA, the go-to research firm which specialises in picking up intricate data points on Airbnb listings is all set to create a new wave in the private accommodation industry through the launch of its exquisite market intelligence product to aid the sophistication of the Airbnb host community. AirDNA’s services are widely used for the analysis of short-term rental rates, regulatory impacts, and other data services. The product aptly named "Market Minder" enables the display of active hospitality parameters for Airbnb rentals which also marks the entry of Airbnb as a key competitor to hotel executives.
The simple dashboard incorporates maps, charts and filters permitting informed decisions regarding pricing, demands and a clear picture of their competitors. Market Minder provides further insights in enabling businesses to scout for the best locations for expansion and also allows exploration of the town to discover profitable short-term lodgings.
Scott Shatford, CEO of AirDNA said in a statement that Airbnb hosts have been working in an informational vacuum and this tool offers business intelligence which empowers them to make informed, data-driven decisions in the increasingly competitive marketplace.
Owing to the burgeoning hotel alternatives like Airbnb, the properties listed on Airbnb is reported to exceed USD $40 billion in 2017. With the inception of Market Minder, optimisation and intelligent data-driven decisions offer hope in transforming the accommodation industry.