Airbnb CEO Brian Chesky vows too Accelerate Growth,Cites Disappointing Recent Performance
LAS VEGAS – Airbnb CEO Brian Chesky expressed dissatisfaction with the company’s recent growth trajectory,outlining plans for meaningful acceleration at the Skift Global Forum conference Tuesday. While the company remains a dominant force in the travel industry with a market capitalization exceeding $76 billion and over 5 million hosts, Chesky stated he aspires to return Airbnb to growth rates exceeding 20%.
Airbnb experienced a surge in growth during the pandemic, reaching 40% in 2022. However, that figure has steadily declined, falling to 18% in 2023 and 12% in 2024. Second quarter revenue growth, ending June 30, was reported at 13%. “I’m not happy about were the growth rate is at the company,” Chesky said. ”I think Airbnb should be growing considerably faster. It should at least be growing in the teens, and I aspire to run the kind of company that’d be growing at more then 20% one day.”
The slowdown comes as Airbnb invests heavily in artificial intelligence, aiming to become an “AI-first application” within the next few years.The company has already implemented AI for customer service, reducing human interactions by 15% since April, handling tasks like reservation cancellations and travel planning. Plans are underway to expand AI capabilities further, including advanced search functionalities within reservations. Despite this technological push, Chesky emphasized a commitment to maintaining a human touch, stating, “Nobody Wants a Robot Answering the Door,” referencing the importance of host-guest interaction.
