Airbnb has just rolled out a cool new feature on their app and website that’s definitely worth a look. If you’re a homeowner wanting to rent out your place but don’t have the time or desire to manage it yourself, you can now hire experienced hosts to take care of everything for you. It’s part of Airbnb’s plan to boost listings and draw more users to their platform.
This feature is great for folks who are busy or just not into the nitty-gritty of hosting. You can bring on board preapproved “co-hosts” who’ll help with setting up or furnishing your listing, handling bookings, and chatting with guests. Airbnb has already checked out these co-hosts, considering things like how many stays they’ve hosted, their guest ratings, and how rarely they cancel.
Co-hosts offer up to 10 different services. Depending on what you’re after, you can pay them a one-time fee—say, for setting up your listing—or a slice of your bookings if you need ongoing help. The co-host network is kicking off in 10 countries, including the U.S., Canada, the U.K., France, Spain, and Brazil. There are already 10,000 co-hosts ready to go, boasting an impressive average rating of 4.86 out of 5.
Investors are watching these new features closely. Airbnb is hoping they’ll open up new ways to make money, especially since growth has slowed a bit after the big travel surge post-pandemic. Analysts are predicting the company will see modest single-digit growth in the third quarter.
What’s interesting is that Airbnb isn’t taking a cut when hosts hire co-hosts through their platform. They figure that by making the experience better for both hosts and guests, more people will use Airbnb, which is a win for the company in the long run.
On the stock market, Airbnb’s shares went up by 1.4%, closing at $135.15. At one point during the day, they were up as much as 3.1%.
But that’s not all—Airbnb has also introduced some other neat features. They’ve added new listing highlights that adjust based on what travelers are looking for. They’ve launched personalized search filters that take into account where you’ve stayed before. Plus, they’ve made the checkout process simpler and are adding more local payment options, aiming to have around 40 different methods by spring 2025.
Looking ahead, Airbnb plans to bring back its Experiences business next year. This means more tours, classes, and workshops, all with competitive pricing. They’re also expanding into less developed international markets, offering unique stays that showcase local culture. In the future, guests might even be able to book personal chefs, midweek cleaning services, or in-home massages!
Now, while all these new plans are exciting, Airbnb knows they won’t see instant results. They’re expecting to spend more on marketing in the short term as they grow and add new services beyond just home rentals. This could temporarily affect their profit margins. Analysts are saying it might take a bit of time before these new features really boost revenue growth.
