EDITOR'S COMMENT
• Airbnb has plans for the long term and in the long-term rental market, and the diversification of its business could have a huge impact on the global travel and hospitality ecosystem. While the signs have been there that the company is eyeing the segment, Brian Chesky's latest quotes are the most direct hint yet.
Asserting that long-term rentals could be "a huge opportunity" to realise his company's potential, Chesky wants Airbnb to be an all-encompassing platform and tool that users can turn to on a daily basis for a host of purposes, not just for accommodation planning and booking but also "beyond travel" experiences. For that and other reasons, long-term rentals could be the next smart route to achieving this goal.
What these "beyond travel" experiences mean is up for debate but we already know Airbnb is doubling down on its experiences programme again. There are also suggestions that the company will expand its lodging options and move into trips and experiences offerings, dining recommendations and car rentals, given the rise in popularity of ride-sharing apps.
Airbnb has dipped its toes in the vertical already with the launch of Airbnb for Business in 2014 [later Airbnb for Work] and the introduction of Airbnb-friendly apartments in 2022. If it is true, as Chesky says, that 30-day-plus bookings are the fastest-growing segment on the platform, Airbnb has the potential to capture more demand from remote workers and digital nomads, and its existing brand recognition certainly plays in its favour.
Likewise, Airbnb may view it as a chance to bypass uncompromising restrictions in markets like New York City, where the short-term rental market is being targeted by regulators.
• Don't forget to book your tickets for our inaugural STRz Summit in just over a week's time at Skyline London on Wednesday 18 October. Check out our packed agenda and expert collection of speakers - get your tickets now at this link.
• Our next webinar [sponsored by PriceLabs and Minut] is tomorrow at 4pm BST as we return to our popular 'Pitch to Paul' format. Sign up at no cost here to see pitches from Swapdesk, noshable and Loopa.
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