V. Competitive Analysis
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Direct & Indirect Competitors
The following businesses are located within a 2 mile radius of [Company Name], thus providing either direct or indirect competition for customers:
Vacation Rental Management
This company boasts nearly 1 million paid listings for vacation rental properties across 190 countries worldwide and helps property owners rent out their property. Its website is free to travelers, who are typically affluent, and is searchable by destination. Its listings include information on weekly rates, availability, and amenities, as well as photographs, descriptions, and contact information.
Vacation Bookings Inc.
The company operates online travel tools and offers online reservation services for some 2.2 million properties — including hotels, resorts, apartments, and homes — across 230-plus countries. It works to connect customers looking to make travel reservations with providers of travel services worldwide. In the US, it offers reservations via an online booking portal for hotels, rental cars, airline tickets, and vacations packages.
Short Term Rentals
Unlike hotel accommodations, Short Term Rentals helps travelers book short-term vacation properties from local hosts (typically the property owners). Rentals can range from modest apartments in urban areas to castles in the countryside; other accommodations include houses and villas. The company operates in more than 100,000 cities and towns in 190 countries around the world. The service, which boasts more than six million listings, provides a convenient way for homeowners to monetize their residential properties. Founded in 2008, the company offers a simple user interface that can be used online or from a mobile phone or tablet.
The pricing of individuals properties varies widely depending on the type of property and location, but each competitor has fees as follows:
|Short Term Rentals||Vacation Bookings||Vacation Rental Management|
[Company Name] enjoys several advantages over its competitors. These advantages include:
- Location: [Company Name]’s location in the downtown area, gives the best access to the airport, tourist attractions, corporate center, downtown, shopping and restaurants. The Company also offers adequate parking making it easy for customers to relax upon arrival.
- Business Amenities: Wi-fi throughout the Airbnb place will make working remotely simple for business visitors.
- Management: Our management team has years of business and marketing experience that allows us to market and serve customers in the same manner as our most sophisticated competitors.
- Relationships: Having visited the community for a number of years, [Founder’s Name] knows all of the local leaders, newspapers and other influences. As such, it will be relatively easy for us to build the brand and awareness of the Airbnb.