The U.S.-based accommodation platform Airbnb announced Tuesday plans for expansion in some European countries and said it would leverage artificial intelligence (AI) technology in revamping user experience on its app.
The short-term rental company said it targets expansion in Switzerland, the Netherlands and Belgium and has explicitly referred to its recent success in Germany when announcing its plans. However, it believes it is only just beginning there.
Airbnb is also relying on artificial intelligence to change the user experience in the app completely, said co-founder and chief executive Brian Chesky.
Airbnb's revenue rose 17% year-over-year to $2.2 billion in the past quarter. More than 7.7 million flats and houses were offered for overnight stays on the platform at the end of the year – 18% more than a year earlier. The biggest growth was in the Asia-Pacific region and Latin America.
At the same time, there are still nine Airbnb customers for everyone who stays in a hotel instead, Chesky said in a conference call with analysts. Therefore, there is still plenty of room for growth.
Airbnb posted a loss of $349 million in the last quarter, following a profit of $319 million a year earlier. The company cited a one-off tax charge of around $1 billion as the reason for this.
