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Vacation rental company Airbnb (ABNB) announced Monday that it will be more transparent about the final price of listings amid a slowdown in bookings.
Some listings on Airbnb have a base price displayed with the listing. Users are often surprised by additional fees and taxes that drastically change the overall price.
Airbnb will now give users the options to display the total price that will include all the fees. Airbnb says the new feature will show the price before taxes. The update will begin in December.
“I’ve heard you loud and clear—you feel like prices aren’t transparent,” CEO Brain Chesky tweeted Monday.
Some cleaning fees hosts would add to their listings would change the price by $75-$150 a day.
Airbnb has recently seen a major decline in bookings due to rising prices and an influx in rental properties. Airbnb believes it needs to give hosts a better incentive to give its users a better overall experience.
The update will also include improvements to search rankings, pricing tools for hosts, and guest checkout.
Listings that prioritize “the total price” that include all fees will be ranked higher in the algorithm. The pricing tool will assist hosts with this change and set competitive prices, the release explained.
A major complaint that Airbnb has received involves hosts asking guests to complete “checkout tasks” like extra cleaning. Airbnb will be taking this option away from hosts.
“Guests should not have to do unreasonable checkout tasks such as stripping the beds, doing the laundry, or vacuuming when leaving their Airbnb. But we think it’s reasonable to ask guests to turn off the lights, throw food in the trash, and lock the doors—just like they would when leaving their own home,” Airbnb said in the release.
As of Tuesday at 2:39 p.m. ET, shares of Airbnb were trading at $97.85, up $2.39, or 2.5%.
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