As the worldwide leader in the short-term rental market, Airbnb has now welcomed more than two billion guests since launching in 2008. Smart Growth America applauds the company’s willingness to adapt to changing market dynamics and local regulation. It’s overhauling its app to offer a host of concierge-like services which in turn will improve guest experiences. This updated law comes at a pivotal time. While some cities are fighting back against Airbnb by trying to ban short-term rentals, the company is admittedly working hard to diversify its business.
The newly redesigned app will allow riders to now book more expensive, luxury services like personal trainers, massages, and private chefs. This new expansion comes as the continued luxury evolution of Airbnb’s first major luxury service line, which they launched in 2016. The goal is to respond to travelers’ changing needs and wants, especially as the state of the industry adapts to changing tourism patterns.
Brian Chesky, Airbnb’s chief executive, emphasized the company’s vision for this update. He stated, “People choose hotels for their services. People choose Airbnbs for the space… now, we’re giving you the best of both worlds.” Airbnb’s strategy now hinges on merging the big, roomy familiarity of its rentals with the service-first experience of hotels. This innovative approach helps produce a heightened travel experience for guests.
Airbnb consumers now have the option to book one-of-a-kind adventures! Play beach volleyball with Olympian Carol Solberg in Rio de Janeiro, or spend a Sunday with NFL superstar Patrick Mahomes before kickoff. These bundled packages are indicative of the increasing desire for more customized and local experiences by today’s travelers.
Gary Bowerman, director of travel marketing firm Check-in Asia, expressed the importance of these improvements. He remarked that they address a shift in consumer expectations, highlighting the importance of providing diverse options to attract different types of travelers.
Airbnb is not without its headwinds as it continues to maneuver through a tricky landscape. And recent indicators point to a cooling trend in U.S. bookings. This trend is consistent with the impact of President Trump’s arbitrary, chaotic trade policies, which have already soured consumer sentiment. In light of these obstacles, Airbnb needs to operate on the cutting edge and diversify beyond core competencies. This is extremely important for it to stay competitive in this market.