Airbnb hosts in Seattle looking to maximize profits on their rentals have a new tool at their disposal.
Everbooked today launched in eight additional U.S. cities, including Seattle. The Oakland-based startup applies similar pricing algorithms used by airlines and hotels, but instead caters its software to Airbnb hosts that rent their homes out. The idea is similar to another startup we’ve covered called Beyond Pricing.
Everbooked founder David Ordal, who grew up in Seattle, said that owners who use his company’s tool can make up to 40 percent more profit on their listings.
“Our software constantly scans the market to figure out how much demand exists locally and recommends a price that will bring in the right number of bookings at the right price,” he said.
For example, Everbooked found that demand is spiking for the Mar. 20 weekend in Seattle when a handful of NCAA basketball postseason “March Madness” games will be played at Key Arena.
“We’re seeing hotel prices rise on the order of 30 percent that night as availability falls,” Everbooked Data Scientist Amy Langill said. “Airbnb hosts in the vicinity of Key Arena should expect an increase in inquiries, and, may be able to command a higher price for that evening, if they still have availability.”
Ordal noted that “Seattle seemed to grab onto Airbnb pretty early,” as a third of 3,400 active listings have been around for three years or longer. He also said that more than 60 percent of Airbnb listings in Seattle are for entire homes and apartments, while another 30 percent are private rooms.
Everbooked was previously available in San Francisco, Portland, and New York City. Starting today it is also operating in Los Angeles, Miami, Chicago, Austin, Atlanta, Washington D.C., and Seattle.