Airbnb Plans Expansion beyond Short-Term Rentals with New Services

The updated experiences will offer more affordable and diverse activities, such as personal chefs and mid-stay cleanings

In an effort to widen its services, Brian Chesky, CEO of Airbnb, announced during the company’s Q2 earnings call that Airbnb will soon expand beyond its primary short-term rental business. The new services will include co-hosting services, a re-launch of the “experiences” feature, and enhanced guest services.

Set to launch this fall, the co-hosting feature aims to connect property owners who lack the time to manage their listings with individuals who are willing to oversee the property but do not own one themselves. Chesky highlighted that this could significantly increase Airbnb’s inventory. In addition to that, Airbnb plans to re-launch its “experiences” feature next year, which had been stopped to focus more on core services. The updated experiences will offer more affordable and diverse activities, such as personal chefs and mid-stay cleanings, aiming to attract customers looking for alternatives to traditional hotel services. The expansion comes as Airbnb faces a challenging second quarter, marked by a 15% drop in profits and a 16% plunge in stock value due to reduced demand from U.S. travelers and shorter booking windows.

Chesky expressed confidence that these new services will help Airbnb redefine its brand and drive future growth. "We’re going to be about long-term stays, guest services, and many new offerings," he said, signaling a strategic shift towards a broader range of travel and hospitality solutions.