Airbnb Announces Expansion Plan, Focuses on Long-Term Stays

Airbnb is making big changes as it looks to the future. With new plans to focus on longer stays and fresh ideas to grow its business, the company is ready to adapt to changing travel trends and challenges.

At the Skift Global Forum in New York City, Airbnb co-founder and CEO Brian Chesky announced that the company is turning its attention to long-term rentals. These are stays of 28 days or more, which have become an important part of Airbnb’s business. Before the pandemic, these types of stays made up only 13 to 14 percent of their bookings, but now they account for 17 to 18 percent. According to Chesky, this rise in long-term rentals offers a big opportunity for Airbnb to grow.

This shift comes at a time when more cities are cracking down on short-term rentals. Places like New York City and Barcelona are introducing strict rules, and some cities, such as Athens, Lisbon, and Budapest, are either banning Airbnb listings in certain areas or stopping new listings from being created. These regulations aim to protect housing for local residents, but they also make it harder for Airbnb to operate in some markets. To overcome these challenges, Airbnb is focusing on long-term rentals, which aren’t affected as much by these new rules.

Chesky explained that people’s travel habits have changed since the pandemic, with more people looking for flexible living and working options. Many guests now prefer longer stays, especially remote workers who can live and work from anywhere. As a result, Airbnb is adapting to meet this demand by expanding its long-term rental offerings.

But that’s not all. Airbnb is also looking at other ways to grow its business. Chesky talked about sponsored home listings, an idea that could generate a lot of money for the company. This would involve promoting certain listings on the platform, similar to what companies like Uber and Booking.com have done to create new revenue streams. 

Airbnb has also been working to improve the quality of its listings. In the second quarter of this year, the company removed over 200,000 listings that didn’t meet guest expectations. This is part of a larger effort to provide consistent, high-quality stays and make sure guests have great experiences.

What The Future Holds

Looking ahead, Airbnb has more plans to expand its services. The company is launching a co-hosting marketplace later this year, which will connect homeowners who don’t have time to manage their properties with others who can help. This will make it easier for people to rent out their homes on Airbnb. Additionally, Airbnb plans to relaunch its popular Experiences program next year, introducing new activities hosted by celebrities from music, sports, and entertainment.

With these new strategies, Airbnb is positioning itself for long-term success, even as the travel industry continues to evolve. By focusing on long-term rentals and exploring new ways to grow, the company is adapting to changing times while staying true to its mission of connecting people with unique travel experiences.