What Is Airbnb?
Airbnb – Through Airbnb, property owners can lease their available spaces to visitors searching for overnight accommodations. Airbnb provides three types of accommodations: properties showcasing shared living spaces with partitioned private rooms and property bookings available to members of the entire guest party.
Two recent San Francisco transplants, Brian Chesky and Joe Gebbia, launched Airbnb in 2008 after unsuccessful attempts to afford industrial-design loft rentals. The duo, running short on money, rented their apartment to accommodate trade show attendees who needed hotel alternatives to make enough money for their loft rent. Their living room became a sleeping area with air mattresses installed for temporary guests while they made breakfast meals by hand each day. Since its inception, Airbnb has become a leader among peer-to-peer property rental companies.
What Do They Do?
Airbnb operates with a peer-to-peer business framework. Both parties benefit financially, and users enjoy a straightforward interface because of this model. The model lets you customize your guests’ experience according to your preferred approach.
History of Airbnb
In 2008, Brian Chesky (the current CEO), Nathan Blecharczyk, and Joe Gebbia established the company now known as Airbnb. The idea blossomed after two founders rented air mattresses to conference visitors in their San Francisco home. Hence, the original name of Airbed & Breakfast.
In 2009, the name Airbnb was announced, and its offerings grew beyond air mattresses to spare rooms, apartments, whole houses, and more. The locations in which it operated raised, as well. By 2011, Airbnb had opened a headquarters in Germany, and in 2013, it opened a European headquarters in Dublin, Ireland. Its primary corporate place is still in San Francisco.
Airbnb. “About Us.”
The company operates in the U.S. and Europe and has a presence in Australia, Asia, Cuba, and more than 220 other countries and regions. It has also broadened its travel offerings with local activities programs known as Experiences.
In 2020, Airbnb introduced its Frontline Stays effort to house first responders during the COVID-19 pandemic. 1 The company went public also in 2020. It has common stock listed on the Nasdaq stock exchange under the symbol ABNB.
Airbnb for Guests
On the Airbnb website, guests can click on any listing to view specific information about the property, including a description, amenities, pictures, check-in and check-out periods, price and fees, house rules, availability, and host information. They can also read reviews left by past guests.
To use it, you Commonly need to Take the Following Steps:
Create an Account: Sign up with a proven phone number and identification. Note that this can take a little time as you need to upload your ID form.
Search for Listings: Enter your end point dates, and use filters to customize your search.
Book Your Stay: Once you discover a suitable property, make a registration and pay online. For longer-term vacations, arranging a payment plan through which you will pay an initial deposit and the rest in installments is possible.
Stay and Review: Leave a review based on your experience after your stay.
Conclusion
Airbnb began in 2007 with an air mattress in a spare bedroom, and today, it has a market cap of more than $80bn. In September 2023, it remained included in the S&P 500, yet another marker of its prominence. Airbnb opened new avenues for hosts and guests, but some municipalities have hesitated at its headlong proliferation and sought to rein it in.