Airbnb To Make Pricing More Transparent

Vacation rental company %Airbnb ($ABNB) says it plans to make its pricing more transparent following complaints from users of hidden fees.

Going forward, the total cost of Airbnb %RentalProperties, including all fees, will be made clearer to customers as they search for places to stay, the company said in a blog post.

Specifically, Airbnb will introduce an option in December of this year to display the total cost of properties before taxes, including items such as cleaning and other service fees, in search results rather than displaying only the nightly rate before fees.

Airbnb added that it plans to prioritize total price over the nightly price when ranking search results.

Many users have complained publicly that the fees charged by Airbnb were only visible near the end of the booking process.

The updates come as travel demand around the world recovers from the COVID-19 pandemic.

However, while travel demand is strong, Airbnb is grappling with an uncertain economic environment due to high inflation and growing fears of a global recession in 2023.

Airbnb said it plans to introduce the new pricing, along with several discount tools, to enable hosts renting out their homes to set more competitive prices.

Airbnb is also addressing another complaint of renters regarding chores they must complete when staying at a host’s residence. Customers are often charged additional fees for not completing lists of tasks assigned by the hosts.

Airbnb said it will provide guidance to hosts on appropriate requests of renters to lessen the number of chores people are asked to complete at the end of their stay.

Airbnb’s stock is down 45% this year and trading at $95.46 U.S. per share.

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