Airbnb’s Chief Financial Officer Dave Stephenson joined President Joe Biden for a meeting at the White House to highlight private sector companies that have launched price display improvements for consumers.
Last December, Airbnb launched the option to display total pricing in the US and other countries without existing price display requirements. US guests can now view total pricing with fees, before taxes, across the entire app. Since then, we’ve seen more than 8 million visitors turning on our total price toggle.
“Affordability is top of mind for consumers– that’s why last year we listened to our users and launched total price display to help Hosts set competitive prices and make it easier for guests to book stays that fit their budget. Since then, millions of guests have used the total price display feature which shows how much consumers appreciate the option.”
Dave Stephenson, Airbnb’s Chief Financial Officer and Head of Employee Experience.
Our new total price display update is part of Airbnb’s broader efforts to increase affordability on our platform. In May, we introduced a number of additional initiatives to increase affordability, including:
- Airbnb Rooms – In today’s economic environment, people want to travel affordably and this category offers a low-cost option for guests with the average rate of $67 per night.
- New and improved pricing tools for Hosts – Hosts can now easily add weekly and monthly discounts, access updated price breakdowns that show what guests pay and Hosts earn, and compare their listing to similar ones in their area.
- Monthly stays – For stays over three months, we’re significantly reducing the guest service fee after the third month and guests in the U.S. can also save for stays over one month when paying with their linked bank account.
We look forward to working with federal policymakers on efforts to create industry-wide standards for price display.