What is Serviced Accommodation and Airbnb?
The advent of Airbnb has ushered in a revolutionary concept in the global short-term rental industry. Much like Uber did for transportation, Airbnb has enabled travelers to access hotel-like accommodations and services anywhere in the world. This has created a mutually beneficial scenario for both tourists and property owners, yielding higher rental returns through short-term stays. In a remarkably short span, Airbnb has blossomed into a $24 billion enterprise, boasting over 640,000 hosts worldwide and a user base exceeding 50 million. This rapid growth underscores the magnitude of Airbnb’s impact in just a few years. For those unacquainted with the term, Airbnb is an abbreviation for “Air bed and breakfast,” signifying its offering of accommodations along with bed and breakfast services.
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