LONDON – Convinced that the boom in leisure travel is permanent, Airbnb aims to expand its listings by convincing more people to turn their homes into short-term rentals.
The company said that it will increase the amount of liability coverage for hosts, up to $3 million, in a play for owners of nicer houses in high-cost places such as California.
It will also pair newbies with a “superhost” to guide them through the process of becoming a short-term landlord, from signing up through welcoming their first guest.
More listings would not seem to be Airbnb’s biggest challenge.
CEO Brian Chesky says the San Francisco company is taking steps to make price more transparent when consumers browse Airbnb listings, and he predicts that will reduce sky-high cleaning fees that many hosts tack on well into the booking process – a major complaint of consumers.
The company also continues to try to crack down on large parties at rentals, a few of which have turned violent. And it faces efforts to increase regulation of short-term rentals, AP reported.
Through it all, Airbnb has fared better than most travel companies during the pandemic.
This month, it reported a record $1.21 billion profit for the third quarter. Its stock fell, however, because earnings and bookings were less than Wall Street expected and the company gave a cautious fourth-quarter outlook.
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