Airbnb focuses on long-term rentals from 2024: changes in offerings

Brian Chesky, CEO of Airbnb, announced that the company will also focus on long-term rentals starting in 2024. This could be a real breakthrough for the industry, and the most significant innovation for Airbnb.

In 2023, only 18% of bookings on Airbnb were for more than 30 days, but the platform's leadership sees this as an important opportunity to change its strategy and business model.

The goal of Airbnb is to create more than just travel. They want Airbnb to become part of people's everyday lives, not just once or twice a year. So the company is exploring the best and most in-demand services to expand its offerings, including car rentals and restaurants.

After the pandemic, the ability to work remotely has changed the needs and ways of traveling. Chesky believes that month-to-month rentals have become increasingly in demand. In a post-pandemic world, a new market segment has emerged - the desire for longer vacations. Many people now work remotely and many want to spend an entire summer somewhere far away.

The offer of long-term rentals can help a company recover activity lost due to restrictions imposed in recent months on vacation rentals. For example, in New York City, which is the largest market for Airbnb, legislation went into effect in September that only apartments where the owner or tenant actually lives can be offered for rent.

The proposed bill includes two main measures: a two-night minimum stay and a national identification code (Cin). The first rule states, "A rental agreement for tourist purposes on one or more dwellings in metropolitan metropolitan cities may not be for less than two consecutive nights. For a one-night stay, traditional hotels will be the only affordable option. However, there is an exception for families consisting of at least one parent and three children. If the bill is passed, each owner will be able to offer no more than two apartments for rent without registering as a commercial activity. This means that the provision of three or more apartments to tourists will require the opening of a sole proprietorship and the payment of a flat-rate tax. There will also be a mandatory national identification code (Cin), which will be displayed both on the outside of the house and in advertisements on online platforms, and an obligation for municipalities to check that its owners are clearly indicated in all promotion channels.