Chief business officer discusses growth opportunities and
the role AI can play to widen their market.
Note: This article first appeared on PhocusWire
GLOBAL REPORT – After five years as Airbnb’s chief financial officer as well
as a lengthy career at Amazon, Dave Stephenson recently took over as the
accommodation platform’s first chief business officer (CBO).
Just days into the role, Stephenson joined the ITB convention
in Berlin last week to talk about why Airbnb needs a CBO and growth
opportunities at the company.
He discussed how the platform had gone back to basics during
COVID but is now ready to expand, echoing recent comments CEO Brian Chesky made
to analysts during Airbnb’s fourth quarter and full-year results.
“As we’re ready to expand beyond the core we needed this
role,” Stephenson said. “As we move into services, experiences and beyond, we
needed to create a role that supports that level of growth.”
He added there would be more specifics to share later in the
year.
“Now we’re going to be expanding into things like services
and experiences that are all surrounded by and in support of stays,” he said.
“It will help the overall community of guests and hosts and the things they
need. What are the things going to keep them [the hosts] on Airbnb? And what
are the things that help other hosts come on board? Is it easier maintenance,
cleaning, maybe they need a cohost. Those could be the types of things. And on
the guest side, what are the things they’re caring about? Fridge stocking,
transportation from the airport, maybe a late checkout and a place to store
their bag. They seem like simple things, things that are already occurring
today, and that other people are either providing or not providing in as good
of a way that we could if we integrate them into our service.”
He also hinted at further investment in tours and
activities. The company said a year ago that it was pausing adding new
experiences, although Chesky has repeatedly stressed the massive opportunity
that lies in experiences.
Stephenson went on to discuss how Airbnb applies its
expansion playbook to different geographies while trying to take local nuances
into account.
He also talked about the latest updates to the
platform, including the removal of thousands of listings and the verification
process it is rolling out, the increasing role of artificial intelligence and
the drivers of growth for the wider alternative accommodation market.
Watch the full interview above with PhocusWire's senior
reporter Linda Fox.