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Airbnb on Tuesday introduced a slew of latest options together with a translation software to be launched later this yr and expanded insurance coverage for hosts, as easing COVID-19 curbs ship extra individuals to its home-rental app.The options, aimed toward facilitating rising cross-border journey and longer stays, will assist Airbnb additional capitalize on a pandemic-driven shift in client choice in the direction of non-urban locations and various lodging.”What you are going to see is because the world strikes right into a publish COVID-19 world, persons are going to journey much more than they did earlier than, actually much more than they do now,” Airbnb Chief Govt Officer Brian Chesky instructed Reuters in an interview.Chesky expects the brand new software, which is able to be capable of translate itemizing descriptions and opinions in 60 languages, to assist in bookings, particularly in Europe and Asia Pacific the place there may be excessive demand for cross-border journey.Airbnb mentioned greater than 100,000 friends stayed on its rental properties for a minimum of three straight months previously yr.Its “AirCover” insurance coverage will provide hosts safety in opposition to pet harm as international searches surge on its platform for pet-friendly listings.Truist analyst Naved Khan expects the newest upgrades to drive incremental development at Airbnb. The brokerage maintains its “maintain” score on the inventory.Months of pent-up demand triggered a significant spike in bookings to the USA on Monday, because the nation lifted pandemic-driven journey curbs imposed in early 2020.General cross-border journey has risen steadily to 33 p.c of gross nights booked within the third quarter, in contrast with 27 p.c within the second and 20 p.c within the first quarter, Airbnb mentioned.As of November 8, the highest locations for inbound international journey to the USA embrace Los Angeles, Miami, and New York, in line with Airbnb.© Thomson Reuters 2021
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