Want To Airbnb In CEO Brian Chesky's Property? You Can Because He Listed His Property On Platform - Airbnb (NASDAQ:ABNB)

Airbnb, Inc ABNB CEO Brian Chesky continued to increase room supply on the travel platform, with the average price per night soaring more than 40% above pre-pandemic levels, the Financial Times reported.
He laid out countermeasures, including a move to pay existing hosts to help new ones get set up on the platform as longer-term plans to reduce cleaning fees.
Among the new hosts joining the platform is Chesky, whose San Francisco home is now among those listed.
The average daily cost of a stay on Airbnb was $156 in July-to-September, up 5% versus 2021 and over 40% compared with 2019.
“If you’re looking for a city on a certain day, kind of last minute, that’s not nearly what we’d want,” Chesky said. “So I’m not satisfied; I’d like it to become more affordable.”
Chesky said the rise in rental rates continued to be driven by supply constraints in popular locations and a dramatic spike in the cost of cleaning fees added to customers’ bills.
He considered launching a marketplace that would allow local cleaning providers to compete against each other more directly to reduce rates.
Supply on the site has shown signs of picking up, with active listings up 15% over last year. Airbnb launched several service updates this week to increase the number of available rooms and properties.
Airbnb said it would also verify the identities of all Airbnb customers by spring 2023. Chesky said Airbnb had no plans to freeze hiring or change its recruitment plans.
The company raised the insurance cover to $3 million and now includes hosts’ parked cars, or boats, at the property.
Price Action: ABNB shares traded lower by 1.5% at $105.39 on the last check Wednesday.

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