Airbnb announced that bookings made through its Airbnb for Work tripled between 2016 and 2017. It also has more than 700,000 companies now using Airbnb for Work, up from the 250,000 reported last year in April. Some of its notable clients include Twitter and Gap.
Since its inception in 2014, Airbnb for Business has remained as a business-focused product with a centralized booking platform that includes travel itineraries, billing, and other financial reporting data. It launched globally in 2015 and has seen a steady increase in business.
More than 60 percent of Airbnb for Work had more than one guest.
“We can offer big open areas for collaborations, while still giving employees their own private space,” said David Holyoke, global head of business travel at Airbnb. “We think this offers a more meaningful business trip and it saves the company a lot of money.”
Even while focusing on the travel experience, Airbnb has managed to double its growth. Not so long ago, it rolled out new listings categories which now allows users to find properties based on niche criteria. 2018 is also its first full year of profitability and is now valued at $31 billion. Airbnb is officially worth more than most hotel chains across the world. In fact, the number of listings on Airbnb now exceeds that of the world’s top five hotel chains combined.
Airbnb is planning to launch a new feature next week that will allow employees to search for listings on a company-specific landing page. For instance, an IBM employee might search for their accommodation on Ibm.Airbnb.com, and the site would be designed to provide personalized preferences, including locations close to the office, and other factors.
While Airbnb for Work has seen tremendous growth, Holyoke said that it only represents 15 percent of all Airbnb trips. There’s still potential for the service to grow.
With the introduction of savvy options such as boutique hotels and other luxury listings such as those on Airbnb Plus, the business is paving the way for luxury business travelers to prefer Airbnb over hotels.