Money Makers: Homestay.com

Have an empty bedroom that’s collecting dust? Financially savvy folks can earn big bucks by renting out their rooms on a short-term basis on Homestay.com. One sharp New Yorker has already earned more than $18,000 since January by doing just that on growing Airbnb competitor Homestay.com, an easy-to-use online platform for listing and booking private rooms in locals’ homes around the world. 

So far, more than 50,000 hosts in 150 countries have already opened their homes to travelers on Homestay.com.  At Homestays, which appeal to travelers seeking a genuine experience, hosts are encouraged to share their homecooked dishes with them, show guests their city’s local gems, and more, so guests can truly live like a local.

Along with the rise of experiential travel, demand for Homestays has skyrocketed.  In the past year alone, Homestay.com bookings grew as much as 600 percent in the U.S.  Honolulu was the chart-topper at 600 percent; other cities experiencing strong bookings growth include Boston (443 percent), San Francisco (283 percent), New York (179 percent), Washington D.C. (125 percent), Los Angeles (88 percent), Chicago (60 percent), and San Diego (56 percent). 

As it currently stands, demand for homestays in the U.S. far exceeds its supply. For example, in New York, which receives almost a quarter of total global bookings, there was a 179 percent increase in bookings this past year, but only a 64 percent increase in host sign ups.  Boston, another favorite, saw a mere 10 percent increase in sign-ups, but a huge 442 percent increase in bookings.

With the average price of a U.S. homestay hovering around $60, hosts who rent out a spare room for half a year can stand to make $10,950.

To become a host for free, sign up at www.homestay.com/host.  Plus, with Homestay.com’s referral program, individuals can earn up to $113 for every friend that signs up (while each friend will receive $23 travel credit on Homestay.com).  Those looking for another way to make an extra buck can join Homestay’s free affiliate program, which promises affiliates attractive commissions from 30 percent for each booking.

About Homestay.com

Homestay.com is an accommodation marketplace dedicated to the homestay travel experience, where the host is present for every stay. With more than 50,000 hosts offering places to stay across some 150 countries, Homestay.com enables travelers to stay in the home of a local resident while they are there. Focused as much on people as it is on places, Homestay.com puts hosts at the heart of amazing travel experiences. The company was founded by Tom Kennedy, co-founder of HostelWorld.com, and Debbie Flynn, a veteran of the education travel industry. Homestay.com is funded by Delta Partners Ltd.