Airbnb CEO Brian Chesky announced during the third-quarter earnings call that Airbnb has seen 20,000 people express interest in becoming co-hosts since the launch of an enhanced network in mid-October. These potential co-hosts would work alongside the 10,000 current co-hosts in 10 countries, helping hosts manage listings and cleaning services. Chesky emphasized that this network could serve as an alternative to third-party property management companies, which may worry professional hosts such as Vacasa, Sonder, and others who use Airbnb for bookings. Chesky stated that co-hosts receive higher guest ratings than third-party property managers, potentially leading to an increase in listings on the platform in the coming years.
Airbnb’s strategy of focusing on listing quality rather than adding listings recklessly has resulted in the removal of 300,000 listings since last year. Despite this reduction, Airbnb has reported a 10% increase in active listings compared to the third quarter of 2023. Chesky believes that the co-hosting network could unlock millions of new listings as it makes it easier for people to earn extra money by renting out their homes on Airbnb. While the company aims to maintain listing quality, it faces competition from platforms like Booking Holdings, whose alternative accommodations nights booked have outpaced Airbnb’s growth in recent quarters.
During the earnings call, Chesky clarified that Airbnb does not consider itself part of the “alternative accommodations” category, unlike competitors such as OTAs. He emphasized that customers refer to Airbnb specifically when booking accommodations and that the platform offers a unique category of its own. Airbnb reported a 68% decline in net income year-over-year to $1.4 billion in the third quarter, primarily due to a tax benefit received in the previous year. Revenue, however, increased by 10% to $3.7 billion. The company also noted an 8% increase in room nights and experiences booked in the third quarter.
In addition to financial figures, Airbnb shared insights into its expansion markets’ performance, highlighting that markets outside its core regions are experiencing double the growth rate. Chesky revealed plans to launch a new business adjacent to accommodations in May 2025, with the experiences business following suit. He predicted each new venture could be worth $1-$2 billion. The company also saw a 5% increase in the percentage of nights and experiences booked through its mobile app, reaching 58% in the third quarter. Airbnb noted growth in first-time bookers, particularly among younger travelers.
Overall, Airbnb’s focus on enhancing the co-hosting network and maintaining listing quality reflects its commitment to providing a unique accommodation experience. While competition from OTAs like Booking Holdings remains a challenge, Chesky’s strategic vision for future business ventures signals continued growth and innovation for the company. With a strong presence in expanding markets and a growing mobile user base, Airbnb remains a key player in the global accommodations industry.
