Airbnb Renters Can Now Stay At The 'Up' House And Prince's 'Purple Rain' Mansion With Their New 'Icons' Category
The vacation rental firm is striving to stay competitive in a highly established market by introducing a new "Icons" category.
Airbnb's latest offerings will showcase a diverse array of experiences, ranging from exclusive stays at Prince's mansion to guided tours with reggaeton sensation Feid, and even overnight accommodations in Disney and Pixar-themed residences.
With competitors such as Austin's VRBO and San Francisco's Kindred making strides, alongside stricter regulations favoring hotels in urban centers, Airbnb is amplifying its commitment to innovation to maintain its relevance amidst escalating competition in the short-term rental sector.
"They're saying, we're going to do something that nobody else can duplicate," said Cait Lamberton, a marketing professor at The Wharton School. "And that gives you a way to keep growing in a very mature, competitive market."
Lamberton points out the challenge of innovating in a mature market for short-term stays. While companies can attempt to enhance features or quality, there are constraints, particularly considering consumers' emphasis on affordability.
"Every category has a lifecycle, every single one of them," Lamberton explains. "When a category goes from growth into maturity, there are more competitors in the space, which puts downward pressure on prices."
During the last five years, Airbnb has introduced over 90 distinctive and exclusive accommodations and experiences, as evidenced by its recent disclosure of a Q4 2023 revenue totaling $2.22 billion. In the previous year alone, 35 of these unique listings, among them the widely popular Barbie Malibu Dreamhouse, collectively amassed 4.7 million views.
"In fact, three times as many articles were written about the Barbie Malibu Dreamhouse as Airbnb's IPO, just to give you a sense," CEO and co-founder Brian Chesky said during a recent earnings call.
"Icons is a compelling new way to do marketing...and help shift the brand to be more than just a place to stay and create space to offer new products and services," Chesky shared with Reuters.
The famous house from 'Up,' Disney's 2009 adventure comedy, can now be rented out.
The listing, titled "Drift off in the Up house," is "hosted" by Carl Fredickson from the movie.
"Hello, I'm Carl Fredricksen. I'm retired and live with Dug, my dog who likes to talk...a lot. I've been on my fair share of adventures over the years, but never one as great as the adventure my wife Ellie and I shared in the house we built together," the listing reads. "Join me as I give the old balloon house another whirl, and I'll help you add to your own book of travel memories and list of shenanigans."
