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Overview of the Home-sharing Business Market in Vietnam
The history of tourism has undergone many changes. As the world continues to develop, so does the way we live, work, and travel. The sharing economy continues to gain momentum, and along with it, the concept of homesharing has introduced exciting new directions for the tourism industry in general and the accommodation industry in particular.
In the Vietnamese market, home-sharing services first appeared in 2014 and have developed strongly every year. According to Grant Thornton, in 2016, Airbnb had only 6,500 listings in Vietnam, but in 2017, Airbnb's supply increased 2.5 times to more than 16,000 listings, mainly concentrated in Hanoi and Ho Chi Minh City.
This home-sharing service has become a prominent trend not only for the accommodation industry but also for the real estate market. One of the distinguishing features of home-sharing in the Vietnamese market is that multi-listing hosts (those who own more than one apartment/room for rent) account for up to 69%. This demonstrates that home-sharing in Vietnam is not simply a service for sharing accommodation but also a new form of accommodation business.
Managing multiple home-sharing (multi-host) properties: Opportunity or Challenge?
Currently, home-sharing services in Vietnam are no longer simply about renting out unused rooms, but have transformed into a genuine business investment. The number of individual investors participating in this market is increasing, with not just one apartment/room but a chain of multiple apartments/rooms for rent simultaneously.
However, not all hosts understand the challenges they face when managing multiple home-sharing properties across different platforms simultaneously. When an account has 3, 5, or even 10 rooms/apartments in different locations, problems arise such as how to balance bookings across all properties, or how negative feedback on one property can affect all the others. Furthermore, using multiple management platforms can sometimes lead to overlapping booking schedules.
So how can you best capitalize on this potentially lucrative business opportunity? Understanding the concerns of investors and hosts in Vietnam, Outbox Consulting is pleased to present a workshop on this topic.“Home-sharing business in Vietnam: How to be a winner in Multi-Host Challenge?”The event will focus on building a forum for discussion, knowledge exchange, and community development within the home-sharing industry in Vietnam, while providing a comprehensive overview of this business with real-world data and analysis. In addition, leading experts from popular home-sharing platforms like Luxstay will offer solutions for management policies, balancing bookings, and managing multiple properties across different platforms (multi-hosting).
The workshop will take place on June 22, 2019, from 9:00 AM to 11:00 AM at MicroSpace, 220 Tran Nao Street, District 2, Ho Chi Minh City. The event is free and open to investors, hosts, home-sharing management platforms, hospitality professionals, and anyone interested in the home-sharing business.
Seats are limited, please register in advance at:http://bit.ly/homesharingworkshopFor more information, please visit the website:http://outbox-consulting.com/
Overview of the Home-sharing Workshop:
- Event Title: Home-sharing business in Vietnam: How to be a winner in the Multi-Host Challenge?
- Date: Saturday, June 22, 2019
- Time: 09:00 – 11:00
- Location: MicroSpace, 220 Tran Nao Street, Binh An Ward, District 2, Ho Chi Minh City, Vietnam
- Media partners: Ho Chi Minh City Tourism Magazine, Travellive Magazine
