Apartment rental platform Wimdu on the attack - revenues up 34 percent in first quarter of 2015
07 MAY 2015
Berlin, 7. May 2015 (RCKT) – Wimdu, the Berlin-based portal for private apartment rentals, has gotten off to a strong start in 2015. The online platform has posted a 34 percent increase in first-quarter sales.
Europe’s biggest portal for city apartments is on a promising growth course. Sales totaling €98.4 million (GMV) in the preceding business year have Wimdu scratching on the €100 million mark for the first time.
Reason for success: internal optimization, boom travel & sharing economy
The reasons for this development are due to a variety of factors, according to Wimdu CEO Arne Kahlke. “We were obviously able to push on the right buttons. The offerings and the quality have improved considerably and we are in the process of strengthening our teams as well.”
On top of that Kahlke identified a few further points: “In the travel industry there is a really strong trend towards holiday flats and the sharing economy. We’re not only participating in this development, but we’re helping to drive it as well. From TV ads to posters and online marketing and even to cooperation [with our partners] we’ve made it a point to be active in this space. And the fact is, people are increasingly looking for private accommodations with a little bit of flair from the country they’re visiting.”
Study: hotels losing up to 10% market share to holiday flats
This fact is supported by an updated study from Boston University researchers, which concluded that during periods of steady growth hotels must account for a reduction in profits up to 10 percent in face of competitors like Wimdu and Airbnb.
Wimdu projects to be profitable in 2016
The targets Wimdu has set for the future are similarly ambitious, as CEO Arne Kahlke explained: “We will once again perform well above the industry average, and we’re growing faster than ever. Airbnb recently received an infusion of capital. We’re moving towards the goal of being profitable starting in 2016.
Focus on Spain, Italy, Germany & UK
The main markets for Wimdu, which now employs more than 200 people in Berlin and Lisbon, are Spain, Italy Germany, France and UK. Also on the rise are Austria, Switzerland, the Netherlands, Croatia, and Portugal.
Over the course of 2014, more than 5.1 million people stayed overnight in 230,000 bookings with Wimdu. The online portal is already on pace to shatter this mark over the course of 2015.