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How to Start an Innovative Online Rental Marketplace?

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Richard Fernando
How to Start an Innovative Online Rental Marketplace?

Of all online businesses, there is a handful of sectors that emerged successful even after an unexpected drastic downfall. In that list of the worst-hit online businesses, the travel industry is at the top. It’s obvious how the monstrous COVID-19 pandemic and the lockdown made it difficult for all online rental businesses like Airbnb.


This was mainly due to the measures taken to confine the entire globe into their respective homes. For an online rental business like Airbnb, it for sure had an unfavorable effect especially on its hotel and travel bookings across the world.


You must be an ambitious entrepreneur and so you’ve admired the growth of the online rental business once. And, must have made you dream of building an amazing online rental marketplace. Being an entrepreneur who awed at Airbnb’s comeback, have you ever wondered how Airbnb managed to do this?


Despite being a trustworthy and notable renowned marketplace for lodging, rental, and tourism bookings in 2020, Airbnb got pushed far too below the level where it had to start things from scratch. Slowly, hosts and travelers started claiming refunds on all the bookings that got canceled due to lockdown.


And, this sudden act of its users pushed them even far, making them cancel their Million dollar marketing budget. Yet, Airbnb didn’t vanish. Instead, it remained dormant and made a remarkable comeback.


Though, as an entrepreneur, you aren’t alien to the rise and fall of an online business, you have to know how a popular Online rental business survived its hard times.


Read this latest blog: How to Run a Thriving Online Rental Marketplace in 2022?


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Richard Fernando
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