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Airbnb has introduced a ‘Pay Less Up Front’ flexible payment option, with preliminary data promising higher return on revenue for hosts.
The payment option allows guests to pay for part of the trip at the time of booking – most often with a 50% deposit – and pay the remainder a few days before check-in.
Airbnb said in a statement that its pre-launch testing of Pay Less Up Front had found a clear demand for more convenient payments. “Given the option of paying less upfront, 40% of guests chose to do so, and opted for higher-value bookings on the whole.”
The company added that this helped hosts to accommodate cash flow-sensitive guests, securing a greater volume of bookings.
“The data also indicates that Pay Less Up Front encourages bookings with nearly double the lead time, helping hosts to secure and manage bookings more easily.”
The new payment option is now available across all platforms: iOS, Android, mobile-web and desktop.
Source: tourismupdate.co.za
