Airbnb is set to invest at least $250 million in new business ventures in 2025, beyond short-term rental accommodations.
This was revealed by the platform’s co-founder and CEO, Brian Chesky, during a conference call with stock market analysts. The meeting covered the financial results for both the fourth quarter and the entire year of 2024.
Airbnb’s business expansion
“This is the year you will see the beginning of a new Airbnb,” Brian Chesky stated. However, he refrained from providing specific details about the company’s business expansion.
He emphasized that the new strategy focuses on activities that address travelers’ needs beyond simply staying in a home.
He elaborated:
“We are exploring experiences and services that will make staying in an Airbnb more special for guests. Even experiences that travelers wouldn’t necessarily think to seek out themselves.”
The company will prioritize offering products that consumers might need more frequently. Chesky pointed out that while Airbnb has a vast user base, its app is not used often. Most users engage with the platform only once or twice a year. His goal is to see travelers using it once or twice a week, making this a key objective of the new strategy.
Ultimately, these new ventures will take Airbnb beyond its core business.
More details coming in May
Many of the new products will be unveiled during Airbnb’s company update in May. As is well known, the platform announces service upgrades and new features twice a year, in May and November.
Chesky stated that the “Summer Release” scheduled for May will be significantly larger than previous ones.
Regarding the relaunch of Airbnb Experiences, which was announced last summer, Chesky informed analysts that he is unlikely to disclose further details until May.
100,000 Listings Now Use Co-Hosts
One of Airbnb’s key updates last fall was the launch of the Co-Host Network. According to Chesky, within the first four months of its operation, nearly 100,000 listings are now supported by co-hosts.
These listings generate nearly twice the revenue of those managed solely by individual hosts.
Airbnb’s Financial Results
Airbnb reported $2.5 billion in revenue for the fourth quarter of 2024 and $11.1 billion for the full year, reflecting a 12% year-over-year increase. Net income for Q4 stood at $461 million, a significant turnaround from the $349 million loss in the same period of 2023.
The gross booking value for the year reached $81.8 billion, up 12%, while total nights and experiences booked amounted to 491.5 million, marking a 10% increase.
Ακολουθήστε μας στο Google News και μάθετε πρώτοι όλες τις ειδήσεις!
