: Airbnb is betting that greater transparency in listings will boost demand

by | Nov 8, 2023 | Stock Market

Airbnb Inc. is making a bet that it can attract more guests to its platform if it offers better information about how other travelers responded to a home they booked. The vacation-home-rental platform, which recently said it was seeing volatility in fourth-quarter bookings, is revamping its ratings and reviews with a redesigned page and new features aimed at helping guests fully understand the quality of each room in a home. The idea is to avert the situation when a guest is shocked that a home looks nothing like the listing pictures.

“People often describe checking into an Airbnb as a ‘moment of truth’ — when you find out if the home you booked meets your expectations,” Brian Chesky, Airbnb co-founder and CEO, said in a statement. “Too often, it doesn’t. We’re changing that today. With Guest Favorites, revamped reviews, and the new Listings tab, you’ll now know exactly what to expect every time you book.” The guest favorites tab will be a collection of the 2 million most-loved homes on the platform, using data from over half a billion trips, Chesky said. The revamped ratings will allow guests to sort reviews by recency or rating, with a chart offering reviews from one to five stars. Reviews will also include more information about the reviewer and the trip they made, including details such as length of stay, where they are from and whether they traveled with family members and pets or as part of a group …

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