Airbnb CEO unveils price transparency changes for December

Business

FILE – The Airbnb app icon is displayed on an iPad screen in Washington, D.C., on May 8, 2021. Airbnb announced Tuesday, Aug. 16, 2022, that it will use new methods to spot and block people who try to use the short-term rental service to throw a party. The company said it has introduced technology that examines the would-be renter’s history on Airbnb, how far they live from the home they want to rent, whether they’re renting for a weekday or weekend, and other factors. (AP Photo/Patrick Semansky, File)

(NewsNation) — Airbnb is unveiling new features to make pricing more transparent for hosts and users next month, the company’s CEO announced on Twitter Monday.

“I’ve heard you loud and clear— you feel like prices aren’t transparent and checkout tasks are a pain,” CEO Brian Chesky tweeted.

As Chesky suggested in his tweet, guests have complained that cleaning fees from hosts and service fees from Airbnb end up being more costly than they expected from their initial glimpse of the nightly rate.

Chesky plans on addressing the complaints with four changes, which include:

  • Being able to see the total price up front.
  • Prioritizing total price (instead of nightly price) in their search-ranking algorithm.
  • Enabling hosts to set more competitive prices by launching new pricing and discount tools.
  • And cutting down on “unreasonable” checkout requests.

“If Hosts have checkout requests, they should be reasonable and shown to you before you book,” Chesky tweeted.

After losing about 37% of its share value in 2022, Airbnb briefly caught a break with the uptick in travel during the summer months.

With current inflation numbers, however, the vacation rental company is back to feeling an economic pinch and is hoping to win back customers.

“We started as an affordable alternative to hotels, and affordability is especially important today. During this difficult economic time, we need to help our Hosts provide great value to you,” Chesky tweeted.

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