Airbnb wants to convince millions homeowners to join its travel platform. To do this, it will launch an army of “co-hosts”, local people who can help manage the properties.
The San Francisco company announced that it will match people with little time available to become Airbnb hosts with existing hosts who are experienced and can offer support. This includes listing setup, managing bookings, and communicating with guest.
More than 10,000 cohosts from ten countries including the US and UK have joined the service. The average rating is 4.86, compared to the 4.62 rating average for property management companies.
Travel platform’s algorithm will recommend co-hosts on the basis of more than 80 factors including location, experience hosting and type of house. The app allows potential hosts to connect with co-hosts who have positive reviews and profiles.
The co-host will then propose a commission of between 17 and 20% of the total bookings, or a flat rate with a percentage after bookings.
Airbnb has announced a co-hosting service, as part of 50 upgrades to the app that will make it more personal. These include suggested destinations, search filters, and listing highlights based on the traveller’s search and trip history.
Brian Chesky: We need to create trusted ways for people to feel confident about allowing strangers into their home.
Brian Chesky is the chief executive at Airbnb. He said: “We are hoping this will unlock hundreds of thousands, or perhaps millions, more homes on Airbnb.” If we do this, our guests will have more homes to choose from, and prices will be lower.
He said: “As of today, we will provide an exceptional host and you’ll be providing the home.”
Airbnb manages about 10% of its 8 million listings worldwide. Professional property companies are in charge, not individual hosts. Chesky stated that he didn’t expect property managers to disappear completely.
“Professional property management could be an excellent option. Some are really, really good. There are some really, really great ones.
Airbnb warned that in August, the demand for American guests was slowing down and lead times were shorter globally.
Short-term rentals in tourist hotspots like Athens and Barcelona are being scrutinized more than ever.
Chesky stated: “We are seeing many people book 30-day rental periods, or even entire seasons through Airbnb. We’re seeing more people moving upmarket. Airbnb was once a budget-brand. We are still that, but now we’re also an upscale and luxe brand. Airbnb has expanded to include all price points.”
Founded in 2008 as AirBedandBreakfast.com, the platform initially facilitated people renting out rooms to travellers, before expanding to allow the rental of whole properties the following year. The platform was listed on the Nasdaq in New York, in 2020. It has a market value of over $84 billion.
Chesky stated that “not everyone wants to have the whole world in their living rooms.” “We need to keep building trusted ways for people to feel comfortable with strangers entering their home. This is only the beginning. “We have a lot of new products and features that we will be releasing in the next few years. I believe this will increase trust, and allow regular people more access to the Airbnb ecosystem.”
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