Could Airbnb Attract More Users With Verified Wifi, Pet Search Features And 50+ Updates?

Airbnb Inc ABNB released its winter update this week, which highlights over 50 updates made for hosts and renters.

Here is a look at the highlights and how it could lead to more revenue for the company.

What Happened: Airbnb is rolling out more updates to improve its platform for renters and make it easier to search for specifically requested items. The company is also making it easier for hosts to get paid and increase exposure to certain home features.

One of the highlighted items is verified Wifi.

“We’ve made it really easy for hosts to verify their wifi speed. Now, when you book an Airbnb, you can be sure it has good wifi,” Airbnb co-founder and CEO Brian Chesky said. This will make it easier for people who need a fast connection for work on the go to ensure that they won’t have problems at the rental.

Another requested feature was added for people traveling with animals.

“Dogbnb: so many people are bringing their pets with them that we added a pets selector right up front,” Chesky tweeted.

Users are now asked how many pets, if any, on the very first screen where they select the number of adults and children that will be staying in the home.

Airbnb announced Air Cover, which will cover $1 million in liability insurance and $1 million in damage protection for guests and hosts.

Other added features include translation tools, guest payment history, experiences map icons, updated gift cards, listing help and tips, lower cleaning fees for short stays, a pet fee option and making it easier to upload video clips and photos.

Related Link: Airbnb IPO Filing: 5 Key Takeaways Investors Need To Know 

Why It’s Important: The majority of the updates from Airbnb are on the guest side of things, which could lead to increased bookings and customer satisfaction.

“As the world changes, it’s our job to design for it. We’ve delivered more than 150 upgrades and innovations,” Chesky tweeted. “More to come in 2022.”

Airbnb has beat revenue projections from the street in each of the four quarters it has reported since going public.

The company could continue to see strong demand from renters with the added features. With other platforms offering ways for people to monetize their homes, Airbnb’s new features for hosts could help keep its inventory growing.

ABNB Price Action: Shares are up 31% year-to-date in 2021.