To try to attract more homeowners, the Airbnb officialized the role of “co-host”, that is, the person who does not own the space, but acts as a host for guests. According to the company announced this Wednesday (16), the new tool is already live in ten countries, including Brazil, where “managing Airbnbs” for third parties has already become an extra source of income and, in some cases, a business of its own.
The idea is that hosts who might not have the time or inclination to be hands-on can pay pre-approved “co-hosts” on the platform to help set up or furnish their listings, or manage their bookings and guests.
Airbnb has already received applications from potential co-hosts, which the company evaluates based on criteria that indicate a solid track record, such as the number of stays they’ve hosted, guest reviews and low cancellation rates.
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According to the platform, 10,000 co-hosts have already been selected for the new tool. Together, they have an average rating of 4.86 (on a scale of zero to five). Among the other countries where the service is now available are the USA, Canada, United Kingdom, France and Spain.
A co-host can offer up to 10 different types of services, with compensation options that include, for example, charging a one-time fee to set up a listing page, or a percentage of a booking for daily support.
Airbnb does not charge a commission when it connects hosts, the company said.
“It’s this positive wheel that benefits Airbnb overall, so there’s no need to take an additional chunk out of it,” Chief Business Officer Dave Stephenson said in an interview ahead of the launch. “What we will do is benefit from having more people staying at Airbnb because everyone will have better stays.”
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Post-pandemic revenue
Investors are eager for details about the platform’s new features. Airbnb said it will introduce new revenue growth opportunities, which have slowed following a post-pandemic travel boom. By that metric, analysts expect moderate single-digit earnings in the third quarter, according to estimates compiled by Bloomberg.
Airbnb shares rose as much as 3.1% after opening trading in New York on Wednesday, reaching their highest intraday level since August 1.
As part of the launch, Airbnb also showed listing highlights that change depending on what a traveler is looking for. The company also unveiled new personalized search filters for guests, inspired by their past stays, to make it easier to search for properties with their preferred amenities. It also simplified the checkout page for guests and added more local payment methods in several countries, with the goal of nearly doubling the number of options to nearly 40 by the first quarter of 2025.
The benefits of these small changes will be “additive and accretive over time,” Stephenson said.
Chief Executive Brian Chesky previously told investors that the company will restart its experiences business for tours, classes and workshops next year, with better marketing and more affordable prices. The company has also been investing more in less mature markets abroad, including introducing limited stays inspired by local cultural icons. Additionally, Stephenson cited new guest-related services for next year, such as personal chefs, weekday housekeeping and in-home massages.
But it will take time for Airbnb to see a return on these investments. The company said it expects marketing expenses to grow faster than revenue in the third quarter as it expands into new regions and adds services beyond its core offering of home rentals. All of this will likely weigh on margins in the short term.
