Reuters
- As the busy travel season approaches, Airbnb said it launched over 100 new features on its app.
- The overall demand for rentals is high – but supply is low. That's good news for Airbnb.
- Bookng prices have already risen 35% in the first quarter of 2021 compared to 2020.
- See more stories on Insider's business page.
As a busy summer travel season approaches, Airbnb said it's offering customers and hosts a plethora of new and updated features.
With the more than 100 updates, Airbnb says that guests will now have the option to choose family-friendly pricing, flexible dates for rentals, better recommendations for nearby attractions, increased options for unique stays – like castles, adobe homes, and wagons – and more.
For hosts, the app will also now features a simplified process for renting their home. Owners will have the ability to receive one-on-one mentoring, more easily calculate their earnings, and receive help through support agents.
With the coronavirus pandemic waning, the demand for rentals is high, but supply is low. The result: higher prices and more campaigns from both Airbnb and Vrbo to recruit new hosts for their platforms.
"We have a muscle to continue to add hosts, but we can also convert guests to hosts," Airbnb CEO Brian Chesky said earlier this month. "And as that number keeps increasing, that's another big lever for us."
Chesky also said that the number of rentals within US cities has been plentiful. However, more rural areas of the country need more hosts as Americans seek quieter refuge away from cities.
If you're looking to book an Airbnb for your next trip, be prepared to spend a little bit more than you normally would for your rental. The price of an Airbnb rental has risen 35% in the first quarter of 2021 compared to 2020 Insider reported.
"We think this travel rebound will be unlike anything we've seen before," Chesky says, "We think this is the travel rebound of the century. So travel is coming back, and Airbnb is ready."