Airbnb plans to introduce long-term stays for people who want extended vacations and gain more income after the COVID-19 fallout.
The company’s CEO revealed this to the Financial Times, who also said the platform plans to expand it’s offerings to include cars and dining pop-ups. These two would make the trip a complete package, letting Airbnb become a one-stop solution for all the travellers needs.
Airbnb For All Travel Needs
One of the revolutionary startups in the US, Airbnb, has faced severe downfall during the COVID-19 crisis, with hotels shut down and travel bans. As we’re slowly recovering from it now, Airbnb is planning to regain the lost income aggressively with several ideas.
One among them is long-term stays, which Airbnb CEO Brian Chesky telling the Financial Times that “there’s an unrecognised market of a month, two months, three months because people can work from laptops, people are going away for the summer“.
Thus, the company is going “beyond it’s core business” starting next year by selling long-term rental plans. Though Airbnb already offers monthly rentals, only 18% of gross nights were booked in the second quarter of 2023, which were longer than 30 days.
Yet, Chesky believes the company can do more to spur interest in long-term bookings and offering year-long rentals which represents a “huge opportunity.” If this is executed well, this could help the company to regain the lost NYC listings.
NYC used to be one of the biggest Airbnb markets with the most listings, but city officials recently cracked down with new regulations that wiped out most. Further, the NYC mandated that hosts will have to apply to be able to rent homes to guests for less than 30 days while also being slow in approving. This aside, hosts are restricted to rent out houses for short-term stays if they’re also staying there, and only two guests are allowed at any time.
How Airbnb will cope with all these regulations is yet to be seen. The company is also optimistic about selling other relevant services, like dining pop-ups and car rentals, to those who need them. All these would make the app a one-stop solution for most travel needs.
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