Airbnb's Growth Strategy, Las Vegas' Sports Tourism and Dubai's Rebrand
Skift Take
Key Points
- Airbnb plans to launch new business lines beyond short-term rentals, targeting ventures that could generate substantial revenue.
- Las Vegas aims to host more marquee sporting events to sustain tourism growth, with significant economic impacts from events like the Super Bowl.
- Dubai is shifting its tourism strategy to highlight its authentic culture and hidden gems, moving away from a sole focus on luxury landmarks.
Summary
Airbnb is expanding its business strategy beyond short-term rentals, planning to launch ventures that could significantly boost revenue. Las Vegas is focusing on hosting major sporting events to sustain tourism growth, with notable economic benefits from events like the Super Bowl. Meanwhile, Dubai is rebranding its tourism approach to emphasize authentic cultural experiences over its traditional luxury offerings.
Skift Daily Briefing Podcast
Listen to the day’s top travel stories in under four minutes every weekday.Good morning from Skift. It’s Thursday, September 19, 2024, and here’s what you need to know about the business of travel today.
Listen Now
🎧 Subscribe
Apple Podcasts | Spotify | YouTube | RSS
Episode Notes
Airbnb aims to focus on a lot more than short-term rentals. The company has plans to consistently launch new lines of business going forward, including those that may not be geared toward travel, writes Travel Technology Reporter Justin Dawes.
CEO Brian Chesky said at the Skift Global Forum on Wednesday he anticipates launching two or three ventures annually that could eventually generate a billion dollars a year in revenue. He acknowledged not all of those ventures will be successful, but added now is the right time for the company to grow beyond the core business.
Chesky also said that stays between 30 and 90 days could represent a huge area of growth for Airbnb, noting that online travel agencies wouldn’t likely provide travelers that opportunity.
Next, Las Vegas officials believe the city needs to host more big sporting events to help maintain tourism growth, writes Global Tourism Reporter Dawit Habtemariam.
Steve Hill, CEO of the Las Vegas Convention and Visitors Authority, said at the Skift Global Forum the city aims to have a marquee event in the first or second quarter of each year in addition to the annual Formula 1 race. Las Vegas hosted the Super Bowl this February, which generated $1 billion in incremental economic impact.
Sandra Douglass Morgan, president of the NFL’s Las Vegas Raiders, said the city wouldn’t be the same if it stopped hosting large sporting events. Las Vegas is scheduled to host Wrestlemania and the College Football Playoff National Championship next year.
Finally, Dubai is synonymous with luxury tourism. But the city is looking to rely less on its famous landmarks and celebrity campaigns in favor of what it considers a more authentic tourism experience, writes Middle East Reporter Josh Corder.
Dubai Tourism CEO Issam Kazim said the city needed landmark projects and luxury hotels to attract tourists in the beginning. But he said Dubai Tourism is working to showcase the city’s residents and hidden gems, citing its arts and culture.
Photo Credit: Steve Hill (L), CEO and President of the Las Vegas Convention and Visitors Authority, and Sandra Douglass Morgan (C), president of the Las Vegas Raiders at Skift Global Forum. Skift
Up Next
How Airlines are Redefining Premium Travel with Customizable and Personalized Experiences
5 Bidders, 1 Last Week: New Details about the Tripadvisor Deal
ChatGPT Can Now Book Restaurants and Events on Its Own
U.S. Aviation Agencies Remove DEI Pages, Airlines Say They ‘Hire on Merit’
