HomeIndustriesAirbnb Addresses Hidden Fee Issue in Effort to Regain Consumer Trust

Airbnb Addresses Hidden Fee Issue in Effort to Regain Consumer Trust

Airbnb’s efforts to increase price transparency have helped the company ensure reasonable pricing while regaining the trust of wary customers, Jamie Lane, chief economist at short-term rental data and analytics firm AirDNA claimed.

Last December, the vacation rental company added a “display total price” button on its website, enabling users to view additional expenses such as cleaning fees, maintenance costs, and fees for miscellaneous items such as sheets and towels.

Previously, customers complained that they would book vacations at what seemed like reasonably priced properties, only to be surprised by the hidden fees that they would have to pay upon check out.

“In different markets, there might be additional fees for sheets and towels, heating a pool. No one wants surprises.” Lane observed. “Now you can find out what the total price is at the beginning of the search process, so it’s a big step up. They [Airbnb] are pushing hosts to keep requests reasonable.”

Lane added that she expects Airbnb’s newfound price transparency to serve the company particularly well in the long-term travel market, where additional fees should remain significantly lower than those of hotels.

U.S. Futures Fall Ahead Of Nvidia Earnings

U.S. futures slipped early Wednesday as investors awaited the quarterly earnings report from chipmaker Nvidia Corporation. Contracts listed on the tech-heavy Nasdaq 100 slipped...

Caesars Misses Quarterly Revenue Target

Caesars Entertainment shares dropped by 1.5% in extended training on Tuesday after the company reported lower-than-expected earnings for the fourth quarter. The Casino operator,...

Goldman Sachs Lifts S&P 500 Target Amid Rising Performance

Goldman Sachs has decided to lift their 2024 target for the S&P 500 Index for the second straight month after the index exceeded 5,000...