Property Investment Logo

Property Investment

Person browsing Airbnb on a laptop

Airbnb Attempts to Improve Reliability

Airbnb is reinventing the wheel when it comes to booking stays. In a bid to rival the predictability and reliability of hotels, the home rental platform is launching a new feature that could change the way you choose your holiday home.

Introducing “Guest Favorites”

Imagine knowing that the Airbnb you’ve booked is a verified crowd-pleaser. That’s the promise of Airbnb’s “Guest Favorites,” a new badge of honour rolling out to properties that have consistently wowed guests. With over 7 million listings, only the elite 2 million that have top-tier scores from guests will earn this prestigious label.

A Badge of Excellence

The criteria for becoming a “Guest Favorite” are stringent. Listings must boast an average guest rating of at least 4.9 out of 5.0, and have exceptionally low cancellation rates and customer service incidents—think 1% or lower. This badge isn’t just a pat on the back for hosts; it’s a beacon for renters seeking assurance in their choice.

Pricing and Competition

Airbnb’s CEO, Brian Chesky, anticipates that these top-performing listings could command higher prices, much like premium hotel rooms. On the flip side, listings without the badge may need to adjust their strategies, possibly reducing prices to stay competitive.

Beyond the Badge

Airbnb is not just stopping at badges. They are pushing for a more transparent and user-friendly experience in several ways:

Photo Tours with AI

In the near future, hosts are encouraged to provide photo tours of their spaces, which will be smartly organized by room thanks to artificial intelligence. This means you’ll get a more intuitive feel for the place before you even step through the door.

Dynamic Pricing Assistance for Hosts

To help hosts price their properties competitively, Airbnb is introducing tools that suggest pricing adjustments based on real-time demand, potentially changing daily.

Addressing Cleaning Fees

Airbnb has taken note of guest grievances, particularly about high cleaning fees. Recently, they’ve encouraged hosts to rethink these charges. The result? Around 260,000 listings have reduced their cleaning fees, making the total cost more palatable for guests.

All-In Pricing Visibility

To further enhance pricing transparency, Airbnb now allows guests to search with ‘all-in pricing,’ which includes fees. While not the default setting, this option can be easily toggled on the homepage, letting guests see the full cost upfront.

A Future of Certainty

The underlying goal is clear: Airbnb wants to eliminate the “moment of truth” anxiety associated with checking into a rental. Chesky’s vision is for guests to have absolute certainty about the quality of their rental—no surprises, just as you’d expect with a hotel stay.


Posted

in

Tags: