Have you ever pondered the financial benefits of adding a pool to your Airbnb property? We delved deep into data from IntelliHost, and the results might just urge you to consider it.
Psssst! If you would rather watch the short video analysis on YouTube, click HERE
An In-depth Investigation
Our focus centered on 38 properties on IntelliHosts that added the “pool” amenity during their subscription period. This meant they had a rich history with IntelliHosts prior to the pool addition, providing us with a goldmine of data to interpret the actual effect of this upgrade.
The Surprising Findings
- Pre-pool: An average of 273 daily impressions.
- Post-pool: This number leapt to 395 daily impressions, translating to a commendable 45% increase in visibility.
First Page Impression Rate
- The change was minuscule, moving from about 44% to 45%. It’s worth noting that Airbnb’s ranking system doesn’t seem to weigh pools heavily.
- Surprisingly, the addition of a pool had no significant impact on the click rate.
- Here’s the game-changer: a rise from 1.5% to 1.8%. This indicates that listings with pools are 20% more likely to convert into bookings.
The Revenue Rundown
Let’s run some hypothetical math: if a property’s visibility increases by 45% and that enhanced visibility is 20% more likely to convert, we see a compound effect.
Starting with, say, a thousand impressions, the math translates to a whopping 74% (compounding effect from the 20% conversion improvement on the additional 45% impressions) rise in total traffic, thanks to the pool.
Now, putting revenue into perspective: The average Airbnb property rakes in approximately $30,000 annually. Add a 74% surge, and that’s a bump of $22,000—bringing the total to $52,000 annually.
When you compare this with the average American pool installation cost of $35,000, the numbers reveal a pool pays for itself in roughly 1.6 years.
The Gist Is…
While our data suggests that adding a pool can lead to a considerable boost in bookings and revenue, it’s essential for hosts to consider the broader picture.
The initial cost of installing a pool, ongoing maintenance expenses, potential increased insurance, and other unforeseen factors could influence the overall profitability.
Each host should evaluate their property’s unique circumstances, location, and target audience before making such an investment. What works for one listing might not necessarily be the magic formula for another.
But for those who have weighed the pros and cons and find value in enhancing their property with a pool, our findings point towards a potential promising uptick in returns.