The features, aimed at facilitating rising cross-border
travel and longer stays, will help Airbnb further capitalize on a
pandemic-driven shift in consumer preference towards non-urban destinations and
alternative accommodations.
"What you're going to see is as the world moves into a
post COVID-19 world, people are going to travel a lot more than they did
before, certainly a lot more than they do now," Airbnb Chief Executive
Officer Brian Chesky told Reuters in an interview.
Chesky expects the new tool, which will be able to translate
listing descriptions and reviews in 60 languages, to help in bookings,
especially in Europe and Asia Pacific where there is high demand for
cross-border travel.
Airbnb said more than 100,000 guests stayed on its rental
properties for at least three straight months in the past year.
Its "AirCover" insurance will offer hosts
protection against pet damage as global searches surge on its platform for
pet-friendly listings.
Truist analyst Naved Khan expects the latest upgrades to
drive incremental growth at Airbnb. The brokerage maintains its
"hold" rating on the stock.
Months of pent-up demand triggered a major spike in bookings
to the United States on Monday, as the country lifted pandemic-driven travel
curbs imposed in early 2020.
Overall cross-border travel has risen steadily to 33 percent
of gross nights booked in the third quarter, compared with 27 percent in the
second and 20 percent in the first quarter, Airbnb said.
As of November 8, the top destinations for inbound foreign
travel to the United States include Los Angeles, Miami, and New York, according
to Airbnb. © Reuters
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