Airbnb Exec on the company's New 'Everything App'

Oh yeah, it's great to be here. Thanks for taking time today to talk about all these new products and capabilities we just launched.

We're super excited about this launch. We have a whole reimagined experiences that have been thoroughly vetted. They're very unique, very authentic, and I think are the types of experiences that are kind of like bucket list things. They really change the way you experience travel. Obviously we have our stays, which continue to evolve and we add more and more countries and languages, and now we have services too. Those services I'm really excited about. I'm a mother of six. The difference between a trip and a vacation for me really comes down to services. Not having to cook every meal, having service providers that can come into my stay and do photography, massage, hair and makeup, or a personal trainer. These are all things you can now get in an Airbnb. It's right there in the app. It's all in one place. You can literally book a stay and then go in and see the experiences that are going to be local to that stay. You can see services that are available for that stay, or you can just be sitting at home and say, 'Hey, you know, I'd really like to go on an experience today' and you can book it in your hometown. Or increasingly, for example, if we have our family gathering for a Mother's Day brunch, you book a photographer to come and take family photos in your own home or at any location that you want. I just think it's really magical and it's a huge unlock.

We feel like services and experiences are two things that our consumers really want and therefore are worth it for the company to invest in. You're spot on. A recent survey indicated 70% of people look for things like services when they're booking an accommodation, and they're interested in services as part of their stay. We also see the same thing on experiences. 70% or more are interested, and they even pick a location or an accommodation based on the experiences and activities that are associated with that. So it's a very high demand need for people on vacation. It customizes the trip in ways that… you have different interests than maybe somebody else who stayed at the same listing, and you then get a very personalized stay that has the experiences and services you want. I think it's this incredible combination. Airbnb has always offered very unique stays that are authentic. You really learn about and stay in very local small communities or big urban areas, whatever the case may be. But what we didn't have, and what made hotels really unique, was they offered a lot of on-site services. You now get the best of both worlds: the best of an Airbnb stay and the services that you've associated historically with hotels, but even more. Because when you stay at a hotel, it's the services that hotel offers. When you stay at an Airbnb, you can customize the services that you get, and the range available to you is considerably larger.

Really excited about the design. We've really redesigned the entire app now around services, experiences, and stays. So when you open up the app, in fact if you open the app up today, you're going to see three tabs across the top: stays, services, and experiences. So let's just say you're going to book a vacation in Paris. You go in, you select Paris, you choose the listing that you want to stay at. The very next thing you'll see down below is experiences and services in that area that might be interesting to you, and you can do it from right there on the booking page, the listing page. Or if you're not really ready to make those decisions right now and you go out of the app and come back in, it'll have your stays kind of flagged at the top. And if you go in and look at the services and experience tab, it knows you have those stays at those locations and it will tell you, 'Hey, when you go to Paris, these are some really cool experiences. When you go to Paris, these are some really cool services.' And it kind of guides you to consider services and experiences as an additional thing you might want to book. So through the entire booking flow, we continue to remind you and highlight those services and experiences that are local to that stay.

Yeah, I think that's what's one of the most exciting things about these new categories. We didn't just go out and say, 'Hey, anybody who wants to do this, come sign up and be a service provider or an experience provider,' and you're automatically added to our offerings. We really were very selective. We've picked experience providers that provide truly authentic experiences. So for example, the architect who helped with the renovations of Notre Dame, that individual is doing a behind-the-scenes tour. I mean, that's like a bucket list thing. So it's not about just getting in buses and driving around the city. It's meeting local people who have very unique perspectives, whether it's a sous chef and learning how to make a special dessert. These are very personal, very special experiences. And similarly, with services, you can have a Michelin star chef come and cook a meal in your home. That's hard to find anywhere else. So we've really tried to make it authentic, unique, special, one-of-a-kind types of services and experiences that are at a very high quality level, and I think will just add to, like you said, the magic of an Airbnb stay.

You're exactly right. These things just draw you in. I think you and I may have been there around the same time because that was my experience as well. So I know that's something that's certainly going to resonate with a lot of people.

Yeah, what I love about it is how everything's connected now. Before, we had experiences as you know previously, but it was almost like they were in a different part of the app. So you'd book your stay, but there was no connection to the experiences, and booking the experiences you had to go into a different part of the app. You had to figure out what's the kind of address of this stay that I'm in and what are the experiences that are nearby. It just created a kind of a heavier burden for the user to navigate all of that. Now it's in one place and it's all connected. So when you book a stay, or you're going to say I'd like to do something in my hometown, you can say where experiences near where I'm at right now. It's all connected so you don't have to do the lift of 'well what experiences or services are available near my stay or near my home or where I'm going to travel and visit.' It really makes it super easy to just go from stay to listing to experience and service and have all that tied together in a way that as you're booking, you know that these are the ones that are interesting and near where you're at. But also as you build that itinerary, it's all in one spot. You can see that I'm checking in at this time on this day, the next day I have this experience, the next day I have the chef coming to cook us a big meal. It's all in your itinerary in one place and you can even click and say 'Add it to my Google calendar.' I mean it's very, very integrated. I just think the ease of use is a complete unlock. It's very exciting.

100%. A recent survey, which is very encouraging obviously for Airbnb, is that while consumers indicated yeah the shaky economy and uncertainty, they're pulling back on certain areas of expenditures, the one area they indicated they weren't was travel. Now having said that, I think people will make different travel decisions. They may choose a domestic trip instead of an international trip. They may choose to have more of a go and stay in a cabin in Montana and ride around on ATVs instead of going to say Disney World where it's a very expensive trip. So people are going to make different decisions about where they go. But the one thing that's really true about Airbnb is we were launched during a recession, we went public during COVID and the pandemic. We're a very agile, flexible platform, and so we have everything at every price point. We're all over the world in all kinds of different stays. And the cool thing about services and experiences add-ons is that 50% of our services have at least one offering that is $50 per person or less. And on experiences, the average price is $67 per person. So for a person or a group, I think those are very affordable. And so when you think about the value that an Airbnb stay offers and the affordability of these add-ons, I think even in uncertain times this is an absolute perfect way to plan a vacation.

Thank you very much. Thank you.

Of course. Thanks for being here. Bye-bye.