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Airbnb Enters New Category With Launch of Sublets

Company Continues the Expansion of Marketplace (September 01, 2011)

SAN FRANCISCO, CA -- (Marketwire) -- 09/01/11 -- Airbnb, the leading community marketplace for discovering and booking unique accommodations from people around the world, today announces its entrance into monthly rentals, marking a breakthrough expansion of the Airbnb marketplace by bringing enhanced functionality and thousands of options to those seeking accommodations for a month or longer.

After a marked increase in users seeking and booking long-term stays, this expansion will further facilitate the growing demand for users to book accommodations in over 18,000 cities world-wide. Airbnb looks to redefine the multi-billion dollar sublet market by making it easier than ever to discover, list and book properties by the month. Airbnb guests have already booked over 3,000 monthly rentals, for as long as 10 months, and as high as $46,000 per reservation. By extending the functionality of the platform the company will be able to better support the activity, draw increased awareness and expand its revenue streams.

"This is the next step in the evolution of Airbnb. By expanding our marketplace to better facilitate longer stays, we're opening up new possibilities for the use of the marketplace by our community," said Brian Chesky, Co-Founder and CEO. "What began with renting out air mattresses on the floor of my apartment has evolved over time to include any type of unique accommodation imaginable, now available by the night or month."

Whether wanting to learn the lay of the land before signing a lease in a new city, wanting to maintain the comfort of a home on an extended business trip, or wanting to experience local neighborhoods as a student taking a semester abroad, Airbnb sublets make it possible to book a place for an extended stay "sight-unseen" with more ease and confidence than ever before.

Airbnb has adapted its industry-leading product to bring the same great experience to a new category, making it possible for people to search for and book a place by the month the way they discover and reserve hotel rooms. Searches for reservations of a month or longer will now display the total monthly price directly in search results, making budgeting and searching even easier. Payments for monthly rentals will be staggered and payable monthly by credit card or PayPal, making it possible to pay rent with a credit card. Robust tools enable guests to learn about the property and the host before booking. 24-hour customer support is always there to ensure that a guest has the peace of mind that they will get what they paid for.

For hosts, Airbnb has now made it simple for people to add a property for rent or sublet for one-time only, automatically blocking off dates that the property is not available. Hosts no longer have to worry about collecting payments, as Airbnb will automatically charge guests every time payments are due. Airbnb hosts can specify daily, weekly, and monthly prices while also setting the minimum number of nights they want to rent their place for, further ensuring that the Airbnb platform can fit the needs of anyone looking to rent out their place.

"With this expansion we've now made it possible for even more people to find liquidity in their greatest assets, their homes, by creating a more flexible platform for rentals that fits the needs of anyone," said Joe Gebbia, Co-Founder and CPO. "Our entrance into a new category is an example of our drive to continually innovate in order to better serve our community."

To discover, list or book an Airbnb property for a month or longer, visit for more information.

About Airbnb:
Founded in August 2008 and based in San Francisco, California, Airbnb is a community marketplace for people to list, discover, and book unique spaces around the world online or from an iPhone device. Airbnb is the easiest way for people to showcase their distinctive spaces to an audience of millions whether the available space is a castle for a night, a sailboat for a week, or an apartment by the month. Airbnb makes the process of listing or booking a space effortless and efficient. With listings in more than 18,000 cities and 190 countries, Airbnb offers the widest variety of unique spaces for everyone, at any price point, around the globe.

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Christopher Lukezic
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