EDITOR'S COMMENT
• Airbnb's biannual product and service releases are now as anticipated as its quarterly earnings reports, such is the strength of the company's brand recognition and ability to drive loyalty and retention among its user community. Last week's Winter Release was no different and it is no surprise that the firm is moving to strategically tighten its market share and enhance its authenticity and transparency.
The headline introduction of an AI-powered Guest Favorites badge appears to supersede Airbnb's existing Superhost designation by highlighting listings with the highest review scores, but it also takes it a step further by encouraging greater competition among hosts and incentivising them with much-needed recognition and ultimately bookings. I observed the update first-hand this weekend as I was booking my accommodation for next year's Olympics in Paris, which ironically is the city where Airbnb CEO Brian Chesky called for hosts to reduce their rates and capitalise on the unprecedented demand and economic benefits that the Games will bring.
Having recently discontinued its Plus programme, Chesky also wants to bring the short-term rental category closer in line with the hotel segment, particularly in terms of competitive pricing and expectation management around product and service consistency. Further updates ranging from revamped ratings and reviews to price comparison and pricing visibility will go some way to achieving this, while ensuring that hosts stay loyal to the Airbnb platform instead of straying to competitors and that guests feel secure with booking choices.
• Our penultimate STRz webinar of 2023 takes place next Tuesday [21 November] as we explore 'Building a short-term rental brand or empire'. Our stellar speakers include Ali Lowry [Plum Guide], Alex Husner [Casago], Andy Meddick [Stay Attention Vacation Rental Business Strategy Services] and Sukh Basra [Hostaway] - sign up for free at this link.
• International Hospitality Media [IHM], the publisher of STRz, is currently hiring for a new marketing and events executive - if you are interested in the position or know someone who would be ideal for the role, please contact piers@internationalhospitality.media.
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