Airbnb is adaptable to any kind of economy: CEO Brian Chesky
Airbnb co-founder and CEO Brian Chesky discusses if leisure travel can hold up in a slowing economy on ‘The Claman Countdown.’
Airbnb co-founder Nate Blecharczyk said the company has been able to gain a competitive advantage even in the midst of the uncertain economic times in part because it can cater to consumers with budgets at every price point.
In an interview with FOX Business, Blecharczyk acknowledged the growing financial pressures gripping the nation and recognized the parallels between the current economic climate and when the company started in 2008.
Still, he expressed confidence in the home-share platform, saying that in times of financial uncertainty Airbnb can still do very well.
"There's really something at every price point, every variety of home," Blecharczyk said. "I think that gives us a competitive advantage in these times." Airbnb can "match consumer needs as they evolve very well," he added.
The comments came just weeks after Airbnb updated its platform to make total fees for homes more transparent to address complaints from customers regarding hidden fees when booking.
"I’ve heard you loud and clear—you feel like prices aren’t transparent and checkout tasks are a pain," CEO Brian Chesky tweeted earlier this month. "Starting next month, you’ll be able to see the total price you're paying up front."
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The company is still seeing high travel demand, especially as companies continue to let employees have a flexible work environment, according to Blecharczyk.