Airbnb executives said Tuesday that they expect average prices to come down this year, after the rates increased more than 35% during the COVID-19 pandemic.
Airbnb Inc. executives said Tuesday that they expect average prices to come down this year, after their rates increased more than 35% during the COVID-19 pandemic.
Airbnb executives attempted to address those issues in December, providing new services to hosts to help their efforts as well as offering customers the ability to see the full prices for a stay upfront. In conjunction with Tuesday’s earnings report, they said the next move will be to reduce average prices while offering more information to hosts when they set prices.
Airbnb disclosed an average daily rate of $152.81 in the fourth quarter — historically one of the least busy and expensive quarters for the service — which is 35.7% higher than the average daily rate in the same quarter of 2019. Price increases were larger earlier in 2022: During the vacation-heavy second quarter of the year, for instance, prices increased 39.8% from the same period in 2019.
“One of the things we learned when we talked to hosts is they don’t always know the final price guests are paying, and if they did, they modulate some of the fees,” he told analysts.
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