With some cities suffering housing shortages, Airbnb is eyeing long-term stays.
The vacation rental company is focused on expanding its long-term rental business, meaning stays of 28 days or more, CEO Brian Chesky said at a travel conference, Reuters reported Thursday (Sept. 19).
“Stays of 30 to 90 days, monthly stays, the seasonal stays, I think that’s a huge growth opportunity,” said Chesky, per the report.
Long-term rental bookings have grown in recent years, accounting for 17% to 18% of the company’s business, up from 13% to 14% before the pandemic, according to the report.
The company wants to expand its long-term rental and experience businesses while also providing new services such as matching people with homes who do not have time to be Airbnb hosts with people who want to be hosts but do not have properties to list, the report said.
The company also sees sponsored home listings as a billion-dollar revenue source, according to the report.
The efforts come…
