Is Airbnb CEO Brian Chesky hinting at long-term rentals when he said to expect what could be “the biggest update to Airbnb ever?”
Chesky told The Financial Times, Airbnb will venture beyond its core travel business. Starting next year, the online rental platform will expand into longer-term housing rentals and enhance its experiences and services offerings like “dining pop-ups.” He added, “there’s an eventual opportunity for Airbnb to become a greater part of your daily life. Not just once or twice a year.”
The Airbnb CEO believes that there’s an untapped market for rentals lasting up to a year, citing the shift towards remote work and extended stays. While only 18% of gross nights booked in the second quarter of this year were for stays longer than 30 days, Chesky sees great potential in extended stays.
This strategic shift comes as Airbnb faces scrutiny from regulators globally over its impact on housing availability in major cities. New York recently introduced rules restricting short-term rentals, but Chesky doesn’t consider it a precedent, emphasizing potential win-win solutions. Airbnb’s future plans also include dining experiences, he told The Financial Times.