Airbnb unveils new co-host network to boost number of listings on platform
Airbnb is offering homeowners the opportunity to hire a co-host to help manage their property, part of a strategic move to increase the number of listings on the platform.
On Wednesday, among its slate of 75 platform updates, the company launched a co-host network in its app for the first time.
The feature is part of the company's ongoing efforts to bridge the gap between the number of available hosts and the high volume of visitors on its platform. By enabling co-hosting, it aims to broaden its network by appealing to those who have the space they can list, but do not have enough time to host.
Globally, more than 2 billion users book on the Airbnb platform, which currently has 5 million hosts. However, its co-founder and Chief Strategy Officer Nathan Blecharczyk told FOX Business that the company believes "there are a lot more people who have vacant space" who would be interested.
KEVIN HART, FERRARI, OTHERS ENLISTED BY AIRBNB IN MARKETING TACTIC TO BOOST DEMAND
"There's a lot of intimidation just about getting started frankly, because it requires a great deal of trust, first of all, to have a stranger in your home. You want to feel confident that you are setting it up right to avoid any issues. I mean, issues are extremely rare, but people always wonder ‘what if’," Blecharczyk said. "It's much more reassuring to have a friend who's very experienced talk you through this and even lend a hand. That could be just photographing your place. It could be giving you tips on how to secure your stuff."
However, Airbnb also believes the network will assist current hosts in increasing their hosting capacity. After conducting a recent survey, 40% of current hosts said they would host more if they had help.
The co-hosting network currently has more than 10,000 co-hosts to choose from, 73% of which are deemed "Superhosts," and 84% manage a "Guest Favorite," which are some of the highest-quality homes on Airbnb.
"They have gotten really positive feedback in the past with other properties, and now they have the bandwidth to help," Blecharczyk said.
Airbnb's personalized ranking algorithm will recommend a list of co-hosts based on factors including your location, hosting experience and type of home. Users will be able to see their profile and reviews before connecting with them in the app.
Co-hosts can be hired for short-term assistance like photographing a home or answering questions, but they could also be more involved, such as being the primary point of contact going forward with all the guests, according to Blecharczyk.
Everything is facilitated through the app, so users can message their co-host directly, give them access to their calendar and share payouts. The co-host provides their rate upfront, so there is no negotiation, either.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
As part of its winter release, the company added features that make setting up easier. For instance, hosts can view suggested prices based on similar listings in their area, and choose to apply the tips to their listing.
They can also create custom reports to view their earnings, filter income by type and easily see when payments are on the way, as well as use customizable templates for things such as quickly sending welcome messages or directions.