• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Trending:
  • Kashmir
  • Elections
Friday, June 13, 2025

Daily Times

Your right to know

  • HOME
  • Latest
  • Pakistan
    • Balochistan
    • Gilgit Baltistan
    • Khyber Pakhtunkhwa
    • Punjab
    • Sindh
  • World
  • Editorials & Opinions
    • Editorials
    • Op-Eds
    • Commentary / Insight
    • Perspectives
    • Cartoons
    • Letters to the Editor
    • Featured
    • Blogs
      • Pakistan
      • World
      • Ramblings
      • Lifestyle
      • Culture
      • Sports
  • Business
  • Sports
  • Arts, Culture & Books
  • Lifestyle
  • E-PAPER
    • Lahore
    • Islamabad
    • Karachi

As recession looms, Airbnb CEO wants your home to make money

As recession looms, Airbnb CEO wants your home to make money

After years of trying to expand into other sectors, the CEO of holiday home giant Airbnb, wants to get back to the basics: helping people make money.

“I had tried to create too many things at the same time,” explained Brian Chesky to AFP.

“Then the pandemic occurred. We had to get back to our core business,” he said.

The sudden halt to world tourism was a shock to the home rental company and forced layoffs of a quarter of Airbnb workforce in 2020.

It also snapped the company’s foray into travel “experiences”, Airbnb’s move into tourist activities.

The health of Airbnb, along with the whole travel sector, had begun rebounding since the COVID-19 lockdowns, but once again, dark clouds are looming.

“The big obvious thing is that (in most countries) we’re going to enter a recession probably, if we’re not already in one,” said Chesky.

The company which has a headcount of about 6,000 people, has no plans for layoffs unlike tech giants Meta, Amazon or Twitter.

Instead, it wants to encourage more people to become hosts on its platform, increasing options as the euphoria of reopened travel has cooled.

“We have to be affordable” in terms of pricing, Chesky insisted, to allow consumers to travel despite a deteriorating economic climate.

Huge business

In order to face the challenge, more hosts are needed: “We got to help people make money,” said Chesky, especially those that are reluctant to open up their properties to strangers.

To encourage the reluctant, Airbnb unveiled on Wednesday a new feature that offers neophytes advice from the site’s highly experienced “superhosts” who, for a fee paid by the company, provide advice and suggestions.

In another move to attract skittish property owners, the San Francisco-based group will expand its user identity requirements to even more markets. It will also offer hosts tools to better set their rates and offer discounts.

Airbnb also announced the launch of its anti-party screening technology across the US and Canada.

Partying is the company’s bete noire, with revellers breaking the rules to host wild bashes, scaring away hosts or dissuading potential ones.

The San Francisco group also increased the damage covered by its inhouse insurance scheme from $1 million to $3 million.

Chesky has not given up on diversifying in the long term. In five or ten years, “I hope we will do much more than just hosting travellers,” he said.

In particular, the entrepreneur intends to revive “experiences”.

“There’s a huge business on the horizon. But it´s going to take longer than I thought.. it just turns out that it´s a more difficult thing to match supply and demand,” he said.

Filed Under: World Tagged With: Airbnb, CEO, home to make money, recession

Submit a Comment




Primary Sidebar




Latest News

Trump: ‘I made them stop fighting—now I’ll solve Kashmir too’

Top Iranian commander Hossein Salami killed in Israeli airstrikes on Tehran

U.S. denies role in Israeli strikes on Iran, urges Iran not to target Americans

Iran warns Israel and U.S. will pay heavy price for airstrikes

Tehran under fire: Israel bombs Iran’s nuclear facility, civilian areas hit

Pakistan

Pakistan, UAE reaffirm shared commitment to peace

Pakistan urges EU to press India against suspending water treaty

Over 290 killed in India plane crash, one passenger survives

PPP announces nationwide protest against ‘elite-centric’ federal budget

Pakistan hits rock bottom in WEF’s global gender gap report

More Posts from this Category

Business

Pakistan launches ‘National Big Data Portal’ to power digital transformation

Ministers propose E-Commerce tax reforms

Late profit-taking wipes out intra-day gains at PSX

Rupee posts marginal decline

Gold price up by Rs4,000 per tola

More Posts from this Category

World

Trump: ‘I made them stop fighting—now I’ll solve Kashmir too’

Top Iranian commander Hossein Salami killed in Israeli airstrikes on Tehran

U.S. denies role in Israeli strikes on Iran, urges Iran not to target Americans

More Posts from this Category




Footer

Home
Lead Stories
Latest News
Editor’s Picks

Culture
Life & Style
Featured
Videos

Editorials
OP-EDS
Commentary
Advertise

Cartoons
Letters
Blogs
Privacy Policy

Contact
Company’s Financials
Investor Information
Terms & Conditions

Facebook
Twitter
Instagram
Youtube

© 2025 Daily Times. All rights reserved.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OkPrivacy policy