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Imagine not getting your payout! Booking.com fails to pay hosts on time?
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Booking.com has a hard time delivering payouts to vacation rental hosts
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- European hosts are hardest hit
- This is on top of years of broken promises and instability with their payment infrastructure
- They have had tons of technical difficulties, communication fails
- They sent this message to hosts this summer… “Payout for reservation check-outs between 28 June – 19 July will be processed by 24th July 2023 in one consolidated payment. Regular payout schedule is expected to resume by 27th July 2023.”“Payout for reservation check-outs between 28 June – 19 July will be processed by 24th July 2023 in one consolidated payment. Regular payout schedule is expected to resume by 27th July 2023.”
- Hosts actually voiced their concern because ON the payment date - no payment to be found - then Booking changed their tune and said ok - new date August 4
- A lot of hosts have thousands of dollars stuck in Booking’s financial system. While expenses have to be paid TODAY, booking is making hosts wait until tomorrow…
- A huge issue here is that booking.com is not really doing much to fix this - not really showing responsibility and this creates more distrust - hosts who are impacted, do not feel they can rely on the platform
- Is booking.com insolvent? Well no, they have a diversified company - this is more of an issue with their financial infrastructure - this is mainly a tech issue more so than a finance one.
- Comparison to other platforms: Airbnb and VRBO have generally done better with their payout records
- Connect with Me: john@vacationhomehelp.com
- This episode is brought to you by the Vacation Rentals with John Newsletter my very own email newsletter every Friday that features 4 bullet points highlighting cool things I found this week in the short term rental world including apps, books, tech, new hacks, tricks, articles, and other weird but interesting short term rental stuff of value that I stumbled upon. It's free and will always be free. You can subscribe here.
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