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Airbnb on Tuesday introduced a slew of latest options together with a translation software to be launched later this 12 months and expanded insurance coverage for hosts, as easing COVID-19 curbs ship extra folks to its home-rental app.
The options, aimed toward facilitating rising cross-border journey and longer stays, will assist Airbnb additional capitalize on a pandemic-driven shift in shopper choice in direction of non-urban locations and various lodging.
“What you are going to see is because the world strikes right into a submit COVID-19 world, individuals are going to journey much more than they did earlier than, actually much more than they do now,” Airbnb Chief Govt Officer Brian Chesky informed Reuters in an interview.
Chesky expects the brand new software, which is able to have the ability to translate itemizing descriptions and opinions in 60 languages, to assist in bookings, particularly in Europe and Asia Pacific the place there may be excessive demand for cross-border journey.
Airbnb stated greater than 100,000 visitors stayed on its rental properties for a minimum of three straight months prior to now 12 months.
Its “AirCover” insurance coverage will supply hosts safety towards pet injury as world searches surge on its platform for pet-friendly listings.
Truist analyst Naved Khan expects the newest upgrades to drive incremental progress at Airbnb. The brokerage maintains its “maintain” ranking on the inventory.
Months of pent-up demand triggered a serious spike in bookings to the US on Monday, because the nation lifted pandemic-driven journey curbs imposed in early 2020.
Total cross-border journey has risen steadily to 33 p.c of gross nights booked within the third quarter, in contrast with 27 p.c within the second and 20 p.c within the first quarter, Airbnb stated.
As of November 8, the highest locations for inbound international journey to the US embody Los Angeles, Miami, and New York, in keeping with Airbnb.
© Thomson Reuters 2021
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