Airbnb CEO Brian Chesky suggested on Tuesday’s Q2 earnings call with investors that the company will soon expand into new products and services, including co-hosting, a relaunch of Airbnb’s “experiences,” guest services and more.
The company positioned the upcoming offerings as a way for Airbnb to grow its revenue by becoming known for doing more than just one thing — short-term vacation rentals.
“We’re going to have to do multiple new things,” Chesky told investors.
With co-hosting, launching later this fall, Airbnb aims to connect homeowners who don’t have time to manage their listings with those who have the time, but who don’t have a home to offer on the platform.
“What if we could match those two people together? That would unlock a lot more inventory,” the exec said.
The company additionally teased the relaunch of “experiences,” a feature that had originally allowed Airbnb guests to book things like outings, tours and other things to do near their stay. The option had been put on pause last year as part of Airbnb’s plan to refocus on its core offerings, however.
Next year, Airbnb says it will bring back experiences, having learned what worked and what didn’t from its earlier attempts. Experiences, explained Chesky, will need to be “more affordable” and unique to Airbnb, he said.
Earlier this month, the company told Bloomberg it was weighing ideas like personal chefs, massages and mid-stay cleanings as part of its “in-home experiences” plans that could potentially woo customers away from hotels.
Combined, the new offerings will help Airbnb become known for more than just its short-term rentals, the company believes.
“[Airbnb is] going to be about long-term stays, it’s going to be about guest services, host services and many new offerings,” Chesky told investors. “And you’ll begin to see that next year.”
The news came in an earnings call covering a weak second quarter for the vacation rental startup, which saw its profits fall by 15% amid slowing demand from U.S. travelers and shortened booking lead times, which sent the stock tumbling more than 16% in after-market trading.