Anika Begay
Airbnb CEO Brian Chesky hinted during Tuesday’s second-quarter earnings conference call with investors that the company will soon expand its portfolio with new products and services, including co-hosting, a relaunch of Airbnb “experiences,” guest services and more.
The company has billed its upcoming offerings as a way for Airbnb to boost its revenue, becoming known for doing more than just one thing: short-term vacation rentals.
“We’re going to have to do a lot of new things,” Chesky told investors.
With co-hosting, which is scheduled to launch in late fall, Airbnb aims to connect homeowners who don’t have time to manage their own listings with those who do but don’t have a home to offer on the platform.
“What if we could match those two people? That would unlock a lot more inventory,” the executive said.
The company also teased a revival of “experiences,” a feature that originally allowed Airbnb guests to book things like trips, tours, and other things to do near their stay. However, the feature was put on hold last year as part of Airbnb’s plan to refocus on its core offerings.
Next year, Airbnb says it will bring back experiences, having learned what worked and what didn’t from its previous attempts. Experiences, Chesky explained, will need to be “more accessible” and unique to Airbnb, he said.
Earlier this month, the company told Bloomberg that it was exploring ideas such as personal chefs, massages and mid-stay cleaning as part of its “at-home experiences” plans that could potentially lure customers away from hotels.
The company believes that overall, the new offerings will help Airbnb become known for more than just short-term rentals.
“[Airbnb is] “It’s going to be long-term stays, it’s going to be guest services, host services, and a lot of new offerings,” Chesky told investors. “And you’ll start to see that next year.”
The news came during a financial results conference call that focused on a weak second quarter for the vacation rental startup, which saw its profits fall 15% as slower demand from U.S. travelers and shorter booking times sent the stock down more than 16% in after-hours trading.
