Airbnb (ABNB) is reaching back into its past as the hospitality company looks to reach a wider audience that may not be able to afford to rent an entire home.
The company unveiled the Airbnb Rooms tab on its platform Wednesday where guests can rent a room in the same house or apartment in which their host stays.
With CEO Brian Chesky saying the move is "an admission that travelers care more about affordability than they did a year ago," the average room in the tab will be just $67 per night. The new tab will feature "Host Passport," an expanded profile about the host that features pictures and detailed descriptions.
Airbnb has had private room options since its inception, but as the full home rental trend has become more popular, the average daily rate of a place on the platform has risen to $153 per day, according to the Associated Press.
“This is going to be especially popular for the next generation of travelers,” Chesky said in a press conference. “The average Gen Z traveler wants to pay less than $100 a night.”
The new tab is part of a push the company is making ahead of the busy summer travel season, with Airbnb announcing more than 50 new features on the platform.
