Airbnb's No Longer Just a Bed – CFO Ellie Mertz on Their Plan to Reshape Travel
Expanding from stays to full travel experiences
Airbnb is undergoing a metamorphosis, moving beyond lodging to become your "life partner" for travel and local experiences. We sat down with CFO Ellie Mertz to understand the new script.
Airbnb, the company that revolutionized travel by popularizing home sharing, is quietly engineering its next major evolution – and it's making significant waves. On May 13th in Los Angeles, the travel tech giant unveiled its most substantial product update in years. Beyond a sleek, unified app interface, Airbnb is launching "Airbnb Services," a suite of on-demand offerings across ten categories, and a revamped "Airbnb Experiences" focused on deep, authentic local engagement.
CEO Brian Chesky declared at the launch, "Seventeen years ago, we changed how people travel. Now, we want to redefine travel itself." This statement underscores a clear strategic pivot: Airbnb is no longer content being just a booking platform. It's aspiring to become an all-encompassing ecosystem for accommodation, services, experiences, and even social connection.
In short, Airbnb isn't just interested in where you sleep anymore; it wants to be part of how you play, and even how you live.
From Travel Convenience to Everyday Helper: Introducing On-Demand Services
For years, the lack of comprehensive services often made users waver between Airbnb and traditional hotels. Airbnb seems determined to fill this gap, and then some. The new "Airbnb Services" will initially roll out in 260 cities worldwide, offering everything from private chefs and photography sessions to massages, personal training, and beauty treatments, with many services starting under $50 to encourage rapid adoption.
Crucially, unlike hotel services exclusive to guests, Airbnb Services can be booked to your rented Airbnb or directly to your own home. This signals Airbnb's ambition to transition from a "low-frequency travel tool" to a "high-frequency local life portal."
"People choose hotels for their convenient services; they choose Airbnb for unique spaces. Now we're combining the two," Chesky explained, painting a picture of getting the best of both worlds.
It sounds ambitious, but how will Airbnb ensure quality and consistency across 260 cities and ten diverse service categories? Their answer is a "dual verification" system, rigorously screening service providers for professional qualifications and user reviews, emphasizing an average of over 10 years of experience – including potential "hidden masters" like Michelin-starred chefs or celebrity trainers.
In an exclusive conversation with GenAI Assembling, Airbnb CFO Ellie Mertz illuminated the business logic: "Our research shows that over 60% of users prioritize the availability of ancillary services when choosing accommodation; in the Chinese market, this figure is as high as 80%. We envision 'Services' as a new touchpoint to attract users, especially those who haven't used Airbnb before or use it infrequently."
Mertz further analyzed that while Airbnb's core accommodation business is mature, future growth will stem from higher-frequency, more diverse demand scenarios. "These services already exist in the market, but people often don't know where to find them or who to trust. Our goal is to aggregate the best services and establish a reliable vetting mechanism."
The logistical challenges of global coordination, local operations, and quality control are undeniable. However, this move clearly signals a new trajectory: the Airbnb of the future might not only be your choice for travel lodging but also your go-to when you need a helping hand in your daily life.
Beyond Sightseeing: Experiencing Cities Like a Local
If "Services" represents Airbnb's functional expansion, the upgrade to "Experiences" is a deeper recalibration of content and connection.
The old model of "sleep on the bus, snap photos, remember nothing" tourism has long lost its appeal for a younger generation seeking personalization and depth. Airbnb clearly wants to move beyond such superficial encounters. While Experiences were first introduced in 2016, they often resembled a generic city event directory, struggling with content homogenization.
This revamped "Airbnb Experiences" feels more like a meticulously curated collection of lifestyle immersions. Launching in 650 cities, its core philosophy is "deeply exploring a city's charm alongside locals who embody its authentic spirit."
Imagine this: In Paris, instead of just viewing Notre Dame from afar, you could listen to the behind-the-scenes story of its restoration with one of its architects. In Tokyo, rather than queuing for hours at a hyped ramen spot, you could step into Michelin-chef Saburo's kitchen to learn how to prepare your own bowl. In Mexico City, you might even jump into the ring with a professional luchador to feel the city's raw, authentic pulse.
Furthermore, Airbnb is launching thousands of "Airbnb Originals" – exclusive experiences often involving collaborations with global celebrities and cultural icons. Think celebrating a decade with K-pop sensation SEVENTEEN, diving into otaku culture with Grammy-winner Megan Thee Stallion, or learning football throwing techniques from three-time Super Bowl champion Patrick Mahomes over a shared barbecue. These unique offerings are poised to become Airbnb’s key to social media buzz.
"We firmly believe that the meaning of travel extends beyond sightseeing to the experience itself – forging genuine connections with local people and sharing memorable moments," Chesky stated. Mertz added, "The core value of Experiences is 'people.' We want users to remember not just the scenery, but who they did things with." Notably, like Services, these Experiences are also open to local residents.
To amplify this sense of connection, Airbnb plans to introduce a "group up" feature in future updates, allowing participants to interact online before and after their experience, adding a layer of light social engagement to the platform.
The App Transformed: An OS for Travel and Life
Underpinning these changes is a completely redesigned Airbnb app. Since its 2010 debut, the app's core functionality has revolved around booking stays. Now, with the integration of Services and Experiences, it has been fundamentally reshaped into a one-stop platform for travel and lifestyle needs.
The new app boasts a more dynamic and personalized interface, with significant changes to its underlying information architecture. Users can now book accommodations, services, and experiences, receive automatically generated trip itineraries, and get smart recommendations based on location and date. It also introduces features like "passport stamps" for travel history and "travel circles" for social connections, alongside an upgraded messaging system supporting photo sharing and custom service payments.
For hosts and service providers, the new app offers unified scheduling, pricing tools, and granular hour-by-hour service management, all synchronizable with third-party calendars like Google Calendar.
"We've redesigned our technology stack," CFO Ellie Mertz explained to us. "You can think of it as a travel operating system – whether you're staying, playing, using services, or meeting friends, it all happens in one environment. Travel itself has a limited frequency, but services and social features can encourage users to open Airbnb in their daily lives."
The China Focus & a CFO's Perspective on Transformation
During our conversation with Ellie Mertz, the immense potential of the Chinese market was a key topic.
"Our current core focus in China is serving Chinese outbound travelers," she stated candidly. "Although we started a bit later, we clearly see the vastness of the Chinese outbound market. By 2025, China is projected to be among the top five global outbound accommodation markets. Moreover, consumer demand for high-quality, personalized, and in-depth travel experiences is rapidly growing."
To this end, Airbnb is actively pursuing localization initiatives, including continuously enhancing the product experience for Chinese users, integrating mainstream Chinese payment methods, incorporating local mapping services, and expanding its Chinese-speaking customer service team. The platform is also working to certify more overseas hosts, service providers, and experiences that align with Chinese travelers' preferences and language habits.
"It's not about being faster, but about being righter," Mertz emphasized. She believes the key lies in providing "Chinese-user-friendly" high-quality services, ensuring Chinese travelers see Airbnb not as a distant foreign platform, but as a travel partner that truly understands their needs.
It's worth noting that new CFO Ellie Mertz plays a pivotal role in this significant business transformation. She isn't your traditional numbers-focused finance executive. Since joining Airbnb in 2013, from Head of Global FP&A to VP of Finance, Mertz has been deeply involved in guiding the company through rapid expansion, a successful IPO, and stabilization during the pandemic.
Formally appointed CFO in March 2024, CEO Brian Chesky remarked, "Under Ellie's leadership, we've grown from adolescence to adulthood." He praised her as not only one of Airbnb’s most vital strategic partners over the past decade but also as the one ensuring the ship sails steadily through this period of strategic transformation. With degrees from Stanford and Columbia, and prior experience as VP of Finance at Netflix, Mertz brings a wealth of experience in cross-regional growth and financial strategy for platform-based companies.
Addressing current global travel market volatility, Mertz was pragmatic: "Yes, U.S. inbound travel has slowed somewhat. But simultaneously, markets like Canada, Japan, France, and Mexico are seeing increased activity. As a global platform, Airbnb can absorb this redistribution of traveler demand. The key isn't to predict where travelers will go, but to be their first choice, wherever they choose to explore."
Final Thoughts: How Far Can Airbnb's Borders Expand?
Seventeen years ago, Brian Chesky, unable to afford rent, placed three air mattresses in his apartment for attendees of a design conference, calling it "Airbed and Breakfast." Airbnb was born. Today, that simple idea of sharing has blossomed into a global platform that has hosted over 2 billion guest arrivals.
Now, Airbnb aims to evolve once more, from a P2P accommodation platform to a comprehensive service provider for both travel and local life. Chesky emotionally concluded the launch by expressing his hope that technology can bridge divides and reconnect people in the real world.
This is undoubtedly a grand vision, but one that propels Airbnb into a more complex competitive arena. It will face not just hotels or OTAs, but also service platforms, content creators, and even social networks. While rapidly expanding its boundaries, it must preserve its brand essence: authentic human connection.
From a financial perspective, this new product portfolio isn't solely about short-term conversions. It's a strategic play to enhance user lifetime value (LTV) – driving frequency through services, boosting stickiness through experiences, and creating a closed loop with social features and the app.
"Starting today, we are laying the foundation for the next five years of growth," CFO Ellie Mertz told us.
If the Airbnb of 17 years ago answered whether strangers could stay in each other's homes, the new Airbnb seeks to answer a more profound question: Can the boundaries of travel, and indeed life itself, be redefined by technology and a human-centric approach?
Airbnb has taken a bold step into this transformative future. The next chapter depends on whether global users are ready to embrace this new script.