Introduction to Airbnb
Airbnb is no longer a new concept and everyone knows that when you are traveling to any part of the world, there are two basic things you are more concerned with. One of them is the mode of transport and its associated concerns about flights, bookings or something else. The next area of concern is where to stay and how to get a confirmed booking. It is time-consuming and troublesome. Here, Airbnb management comes into the picture. It makes your life easy to book a space in any part of the world at a competitive price. You will get the space, but it may not match hotel standards.
Early formation about GuestReady
A few words about GuestReady will dispel any doubts about this new term that is doing the rounds. Guest-ready was founded by Alex, Chris, and Patrick. Incidentally, they are also the hosts, and they were pioneers in sensing the flaws in the system of finding rented space for visitors. They thought of designing a system that would enable smooth access to different places. They began thinking about high-quality offerings of rent. Your idea of short-term renting varies greatly because it depends largely on the way the people manage logistics. These founders are also the hosts, by the way.
End to end service
The founders set out to define and execute solutions for handling the entire process to leave guests satisfied. Their solution lay in handling such things as cleaning, arranging linen, and the handing-over process. You may have a space and are supposed to be a host but if you find a holistically managed platform that handles all the admin, you are spared a lot of trouble and you can profit from your unused space without too much hassle. It also makes things easier for the guests.
GuestReady operations across countries
GuestReady is operating in more than 20 cities of the world. They aim to become the leading brand offering facilities to guests and owners of properties. There are short-term and mid-term rentals.
Scalability is the question.
There are thousands of properties around the globe so there is the challenge of scalability. Over the period, GuestReady has successfully designed a very successful and cost-effective management system.
It has facilitated the automation of previously manually-done operations. There is a tech infra at work and the bulk of support services are operated from centralised locations. Airbnb Management does full-suite using the right software. It uses pricing algorithms, automated payment, and coordination of the entire operation.
Gainful acquisition at Airbnb
The company has expanded to places like Paris, Portugal, Kuala Lumpur, and the UAE. They acquired a competitor and raised a substantial sum to support the company and acquired over 2,500 properties worth millions of US dollars, giving them an edge in becoming leaders in the field.
The company has brought numerous tech innovations to market, including virtual wallets. It allowed them to take the business to new heights. Since 2019, the company has begun building an alternate B2B revenue system and has developed a white-labeled version of property management. These are now sold to rental management companies, including traditional property managers. The organisation has scaled up its licensing of the software after several trials so they can now work with property managers without much involvement.
Conclusion: GuestReady’s core business model has, over the years, become very profitable. They have decided to utilise this income to invest in the expansion of their business. The company now has over 500 investors and in the future is expected to have many more.