One of the glitziest hotels in the IHG Hotels & Resorts orbit hosted VIP — very important poultry — guests over the weekend prior to their high-profile pardon from U.S. President Joe Biden.
08.11.2024 - 00:05 / skift.com / Brian Chesky / Dennis Schaal / Ellie Mertz
Airbnb CEO Brian Chesky told analysts during the third-quarter earnings call Thursday that 20,000 people have expressed interest in becoming co-hosts since Airbnb launched a enhanced network in mid-October.
They would supplement 10,000 current co-hosts in 10 countries and help hosts who may not have the time to handle some tasks themselves, such as managing listings and cleaning services.
“The best part of all was this would be an alternati to some of the third-party property management companies,” Chesky said.
That won’t do much to ease any concerns from property managers such as Vacasa, Sonder, Vtrips, Awaze, Evolve, and many others, all of which use Airbnb to varying extents to attract bookings. One property manager told Skift recently they took exception to Airbnb stating last month that co-hosts get higher guest ratings on average than professional property managers, a point that Chesky emphasized again on Thursday.
“The average five-star rating for co-hosts on Airbnb is significantly higher than the average rating of a third-party property manager,” he said.
Airbnb is continuing to pursue a supply strategy of emphasizing listing quality over adding supply in a wreckless manner — it removed 300,000 listings since last year. But Chesky said the co-hosting network could unlock “millions” of new listings in coming years because it will make it easier for people to earn extra money by renting out their homes on Airbnb.
Airbnb said it has more than 8 million active listings, but starting this year, given the quality push, has declined to quantify the percentage increases. Chief Financial Officer Ellie Mertz said listing growth outpaced demand by a couple of percentage points in the third quarter.
The word “alternative” came up again during the call when an analyst asked whether Airbnb’s “alternative accommodations growth” will outpace that of competitors.
Chesky said he wanted to jump in before Mertz answered the question. “I don’t think we do,” Chesky said. “I think alternative accommodationsis what our competitor OTAs do. I think alternative accommodations is a bit of a catch-all that includes property-managed homes, serviced apartment hotels. But I’ve never heard a customer say alternative accommodations. I hear them say Airbnb. I’m going to book an Airbnb. I’ll make an Airbnb. And I think we’re really in a category of our own. So just so you know, I just think we don’t refer to it, and we don’t think of it as alternative accommodations.”
Both Booking Holdings and Expedia Group — which make most of their money from hotels — refer to their short-term rental businesses as “alternative accommodations.”
In the third quarter, Airbnb saw net income fall 68% year-over-year to $1.4 billion, but the
One of the glitziest hotels in the IHG Hotels & Resorts orbit hosted VIP — very important poultry — guests over the weekend prior to their high-profile pardon from U.S. President Joe Biden.
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