CHAPTER 4Navigating Customers: Progressive Approach for Stronger Market Position
In 2012, two people who were struggling to pay their rent had an “a‐ha” moment. They were living in San Francisco at the time. They could put mattresses on their floor, provide breakfast services, and charge guests to stay at their place.
Fast forward to 2020. These same individuals, now with a business built on the idea of providing lodging services, underwent the largest IPO of 2020. Their company reached a valuation of over US$100 billion that year, exceeding the three publicly traded hotel chains' value, namely Marriott, Hilton, and Intercontinental.1
This is the story of Airbnb, which took the concept of shared lodging and short‐term rentals to the next level. In addition to pioneering a new business model in the hospitality industry, in which owners can rent their dwellings to guests via a website and app, Airbnb understands how to solve customers' confusion over travel.
Guests can find what they need in a safe, user‐friendly environment. It starts with an inspirational travel experience. Users get to choose their unique spaces, ranging from a simple room to the exotic. Treehouses, caves, boats, condominiums, villas, and tents—they're all available via Airbnb.2
It doesn't stop there; Airbnb also offers Airbnb Plus, which provides the highest quality homes managed by hosts who get great reviews and pay great attention to detail.3 Travelers can even rent a city, village, or country.4
Airbnb ...
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