Brian Chesky Says Airbnb Is 'Making 4 Changes' Including Price Transparency
Brian Chesky, the CEO of Airbnb Inc. (NASDAQ: ABNB), has announced four new changes to the way prices are shown on the company's website, in response to consumer complaints.
What Happened: On Monday, Chesky took to Twitter to announce the changes, saying, “I have heard you loud and clear.”
Chesky shared a screen recording in which a box saying “display total price” was pinned. He explained what users would see when they turn on this feature.
When you turn this on, you’ll see the total price (before taxes) in search results, as well as on the map, price filter, and listing page. You can also view a full price breakdown with Airbnb’s service fee, discounts, and taxes.
— Brian Chesky (@bchesky) November 7, 2022
See Also: How To Buy Airbnb (ABNB) Stock Right Now
The second change was prioritizing the total price instead of the nightly price.
2. We are prioritizing total price (instead of nightly price) in our search ranking algorithm. The highest quality homes with the best total prices will rank higher in search results.
— Brian Chesky (@bchesky) November 7, 2022
Airbnb will also be rolling out new pricing and discount tools to enable hosts to set more competitive prices.
3. To enable Hosts to set more competitive prices, we’ll be launching new pricing and discount tools. Hosts told us they’d like our help to better understand the final price guests pay and what price to charge to stay competitive.
— Brian Chesky (@bchesky) November 7, 2022
The fourth and final change will focus on eliminating unreasonable checkout tasks.
4. You shouldn’t have to do unreasonable checkout tasks, such as stripping the beds, doing the laundry, or vacuuming. But we think it’s reasonable to turn off the lights, throw food in the trash, and lock the doors—just as you would when leaving your own home.
— Brian Chesky (@bchesky) November 7, 2022
Why It’s Important: In the past, Airbnb owners and customers vented about their problems. Some even took to social media platforms like Twitter and ByteDance-owned TikTok to express concerns about everything from cleaning fees to misleading listings, reported The Economic Times.
In 2018, the EU accused Airbnb of failing to comply with its rules on price transparency, according to The Telegraph.
Read Next: Airbnb To $154? These Analysts Slash Price Targets On Airbnb Following Q3 Results
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