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Airbnb CEO calls luggage storage a 'sleeper hit' service

Created at 7 Aug · 4:11 AM1 source↑ Market-relevant
IN SHORT

Airbnb CEO Brian Chesky revealed that luggage storage, a service offered through a partnership with Bounce, has become a surprisingly popular offering for guests. The feature addresses a common inconvenience for travelers using rental homes.

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Key Numbers

10%stock jump in after-hours trading

Who's Involved

Brian Chesky
CEO of Airbnb, highlighted luggage storage as a popular new service
Airbnb
company that partnered with Bounce for luggage storage
Bounce
global luggage storage platform partnering with Airbnb
Airbnb CEO calls luggage storage a 'sleeper hit' service

↳ Why This Matters

The success of seemingly mundane services like luggage storage highlights Airbnb's strategy to expand beyond core accommodation by offering complementary services that enhance the guest experience and drive revenue, potentially increasing customer loyalty and booking frequency.

Key facts

  • Airbnb CEO Brian Chesky described luggage storage as a "sleeper hit" service.
  • The service, a partnership with Bounce, helps guests store luggage before check-in or after check-out.
  • Chesky stated that car rentals are the most popular new service on the platform.
  • Both car rentals and luggage storage are revenue drivers for Airbnb.
  • Airbnb announced its third-quarter earnings beat, leading to a stock increase.

Airbnb CEO Brian Chesky has identified luggage storage as a surprisingly successful new service offered through the company's platform. During Airbnb's third-quarter earnings call, Chesky described the luggage storage feature, a partnership with Bounce, as a "sleeper hit."

Chesky mentioned that the luggage storage service garnered a significant positive reaction when he discussed it during a keynote speech and posted about it on Instagram, indicating its unexpected popularity. This service addresses a common inconvenience for travelers by allowing them to store their bags before check-in or after check-out, a convenience often available at hotels but not typically at rental homes.

While car rentals were cited as the most popular new service by far, Chesky emphasized that both car rentals and luggage storage are proving to be valuable revenue drivers. He explained that these services enhance the overall value proposition of booking an Airbnb, making guests more likely to choose the platform. The company has a pipeline of dozens of additional services planned.

Airbnb's stock saw a jump of approximately 10% in after-hours trading following the announcement of its third-quarter earnings beat.

Frequently asked questions

Airbnb CEO Brian Chesky referred to the luggage storage service as a 'sleeper hit' due to its unexpected popularity among guests.

Airbnb partnered with Bounce, a luggage storage platform, to allow guests to find nearby locations to store their bags before check-in or after check-out, often at a discounted rate.

According to CEO Brian Chesky, car rentals are the most popular new service offered on the Airbnb platform.

Airbnb's stock rose approximately 10% in after-hours trading following the company's third-quarter earnings beat.

What Happens Next

01Airbnb plans to introduce dozens of new services.
02Further details on Airbnb's financial performance will be available in their quarterly report.

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Cadence

How It Developed

Airbnb CEO Brian Chesky highlighted luggage storage as a popular new service.
Chesky noted the service received a significant positive reaction during a keynote speech and on Instagram.
The luggage storage service is a partnership with Bounce, offering discounted rates to Airbnb guests.
Car rentals were identified as the most popular new service on the platform by far.
Both car rentals and luggage storage are contributing to revenue and increasing likelihood of booking Airbnb stays.
Airbnb reported an earnings beat, with its stock rising approximately 10% in after-hours trading.

Sources

T1
CEO Brian Chesky says a service solving one of the more annoying parts of Airbnb stays is a 'sleeper hit'Business Insider

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