Brian Chesky

“With loyalty, what I would say is, I've always believed the best loyalty program is people loving your product and coming back.”

“That being said, it's pretty remarkable how successful Airbnb has become given we're probably the only large travel brand in the world that does not have a loyalty program.”

“Well, the answer to this, again, we learned from Amazon, is that every subsequent offering we offer is less work than the prior offering because once you solve one service, the next service is only 20% different.”

“When tariff uncertainty led to fewer people traveling to the U.S. last year, they came to Airbnb and found somewhere else to go.”

“I do see Amazon as a pretty good inspiration for us.”

“AI, I think we should think of as an accelerant to everything.”

“The reason why is the stakes are high, you have -- you cannot hallucinate, you have to answer things very, very quickly because they are calling and they have problems.”

“So what we have been doing over the last few years is really getting our data warehouse really, really clean because your AI is only as good as your data.”

“And so I think generally, it's just about being -- moving faster and being more hands on.”

“I will say, though, that one of my principles is that Airbnb has to move at the speed of AI.”

“And I think this goes to my final point, which is I don't think anyone figured out AI for travel or e-commerce yet.”

“In a new world, an engineer can spin up 10 agents.”

“The reason we decided to start with this is we want to focus on the hardest problem in AI, which we thought was customer service.”

“This works really, really well.”

“We think there is enough upside that without attracting people to Airbnb for hotels, you could still build a giant business.”

“And I just want to remind everyone listening that 100% of people who booked have an account, and they have to have a verified ID.”

“So for example, we've already announced grocery.”

“So every new service gets more and more efficient.”

“We're probably going to show you an Airbnb, a home.”

“We introduced it last year to give guests a more flexible way to pay, and the response has been incredible.”

“And so I think there's a massive increase in conversion rate by just converting the travelers already in our site.”

“We're seeing this momentum show up across the business.”

“We're a much more capital-light business.”

“I think it's really, really early.”

“We're raising our guidance for 2026 and now expect year-over-year revenue growth to accelerate to low to mid-teens, and we anticipate our adjusted EBITDA margin to be at least 35%.”

“I think a home, a hotel, service experience are really just the beginning.”

“Growth in first-time bookers also accelerated 10%.”

“So it's very, very difficult for a regular person to list a property.”

“It also introduces more new guests to Airbnb.”

“So we are probably one of the only technology companies in the world certainly only in travel that has an AI-native person running as the entire technology stack.”

“And as a result, roughly 20% of global GBV came from Reserve Now, Pay Later bookings.”

“It's changing how we build and innovate.”

“You see when guests contact us through our AI assistant, over 40% of issues are now resolved without a human agent.”

“As an official Olympics partner, almost 200,000 guests stayed on Airbnb, with supply in host markets growing about 30% and GBV more than tripling.”

“If they don't find a home, they're probably going to another store and booking a product we don't have.”

“A lot of countries have unique payment methods they want to be able to use.”

“So yes, AI is one of the best things that have happened in Airbnb, and these are some of the reasons why.”

“And as a segment, the host API hosts are growing really, really fast, and we see a really big opportunity to better serve them.”

“Now while we can't predict each quarter with precision, we can control the speed of our innovation.”

“We also continued scaling experiences, and early results show that's becoming a demand flywheel.”

“Events also strengthen our relationship with cities and governments that need new ways to host millions of visitors.”

“Well, I'm proud to say that we've made a lot of progress.”

“We have 60% of our code being authored by AI.”

“The more important answer is personalization.”

“And so we think there's a lot of category expansion, and some will be first party and some will be third parties.”

“We can infer a lot, not only about what you're clicking on the site, but all of your past booking activities.”

“We're not coming kicking and screaming on the site.”

“Now bringing more hotels onto the platform helps us serve guests when a hotel might be the right choice.”

“Guests now see more relevant listings and it's having a positive impact on bookings.”

“AI is really helping our search ranking and our relevance.”

“We have millions of visits already on Airbnb.”

“And I believe it's, by far, the best AI self-solve in all of travel.”

“And so think about it as they're already in our store.”

“Then we have primary homes, homes that people live in primarily, so typically more than 180 days a year.”

“These are primarily property managers.”

“You have to escalate to human accurately, especially if it's timely or there's a trust and safety incident.”

“On hotels, I think our experience is going to be quite different than other OTAs.”

“But what I would say is we want to be able to have the lowest price guarantee.”

“So hotels could be a multibillion-dollar revenue business without anyone intending to ever come to Airbnb to book a hotel.”

“And over 40% of people connect with our AI assistant self-solve.”

“And about one in three people who book an experience book a stay within 90 days.”

“And eventually, we tackle bigger, more ambitious bets.”

“We are thinking very, very expansively.”

“Now on the one hand, that's encouraging because that inventory is more unique and exclusive to Airbnb.”

“I actually think of it more as an accelerating technology.”

“If you're looking for a family vacation, you're traveling with four other guests, you're going to stay for a week in Italy, in Tuscany, a hotel is probably not right.”

“One thing I want to say about hotels is hotels want to be on Airbnb.”

“Almost 1/4 of new guests who booked an experience go to book a stay or a service.”

“I don't think there's a silver bullet here.”

“I'm seeing like many of our design managers and engineering managers going back to coding or using Claude code.”

“This has been huge in Brazil.”

“I think we have so much traffic and our conversion rate is significantly lower than, say, Booking.com.”

“And most of e-commerce is not language forward, it's photo forward.”

“We want to have the best prices online.”

“AI, especially though, can help the sourcing discovery in the listing of primary homes.”

“Revenue grew 18% year-over-year to $2.7 billion, which exceeded the high end of our guidance.”

“I think post an AI paradigm that we're moving towards and this relates in a second to AI search is deep personalization, understanding every user, every member.”

“And I think the first point I want to make is AI feels like magic, but of course, it's not magic.”

“I think everyone is going to have to be much more hands-on, much more in the details of the company and all the data.”

“And many of the independents have told us that they're feeling pressure to franchise.”

“Even within services, I think there's a huge endless opportunity.”

“And that's something most travel companies can't replicate.”

“And I'm very, very optimistic.”

“We're also expanding our partnership with Delta Air Lines so that travelers can earn Delta miles on qualifying Airbnb Experiences and Services in addition to homes.”

“I think that every year, our top rank in the App Store within the Global 50 app keeps going up year-over-year.”

“This is significantly higher than our peer set and our benchmarks.”

“Number one, we've been more aggressive over the last year, 1.5 years in pushing people that open Airbnb on a mobile website to download the app.”

“We've seen the cost per booking decrease about 10% year-over-year in Q1, and we expect to see more of this as we improve AI customer support this year.”

“We decided to start bottom of the funnel.”

“Nights booked on our app grew 22% year-over-year, and they now account for 63% of total nights booked, which is up from 58% a year ago.”

“Nearly 60% of the code our engineers produce is now written by AI, which we estimate is about twice the industry average.”

“And with regards to flights and loyalty, they're absolutely both on the table.”

“We have millions of homes everywhere in the world at nearly every price point.”

“Our gross booking value grew 19% year-over-year, driven by strong demand and continued pricing strength.”

“I think the #1 characteristic of AI is speed.”

“But it's not just about speed, it's about delivering a better experience for our guests and hosts.”

“So service experiences are about more than just stand-alone products, they are a great way to introduce new guests to everything Airbnb has to offer.”

“And so said differently, our customers have higher satisfaction with individual hosts over property managers.”

“And the momentum is showing up across every part of the business.”

“This increased flexibility is changing how guests book.”

“But I can say that we are envisioning a differentiated strategy where we have the lowest prices, the best quality hotels and the most differentiated product offering.”

“So we are really seeing this as an ecosystem and we do imagine offering just about everything that a traveler needs or just about anything someone needs to live somewhere, especially for less than a year.”

“And net nights for expansion markets grew at roughly twice the rate of our core markets.”

“And customer support is a really great example of this.”

“We're seeing longer lead times as well as a mix shift towards larger, higher-priced homes.”

“We start with simple improvements, chip, learn quickly and double down on what works.”

“That's the first problem.”

“And I think we're at the very, very beginning of how AI is going to change how we all do our jobs.”

“Reserve Now, Pay Later is obviously one of them.”

“And roughly 55% of guests who book a hotel on Airbnb come back and they book a home.”

“It's really about like making sure we have the right prices for the right hotels in the right markets.”

“There are people that only want to book home, they should only see home.”

“The World Cup is the next chapter in our event strategy, and we expect to host more guests than any event in Airbnb's history.”

“It can even write your description based on computer visioning of the photo.”

“You go to Airbnb in Paris, there's tens of thousands of homes, I think over 100,000 homes.”

“One of the things we found is that the more properties you manage at Airbnb, the lower your rating is.”

“Early results are strong, especially in cities where the supply of homes isn't meeting demand or where supply is constrained because of regulation.”

“Now in addition to Reserve Now, Pay Later, we're also improving search.”

“This doesn't account for the fact that 85% of people booking Airbnb send a message, 100% have an account.”

“And what we find is that each new service, each new experience, each new offering brings in a different type of guest.”

“We want to have best-in-class merchandising.”

“You have to be multilingual, often in the same conversation because sometimes guests and hosts don't speak the same language.”

“That means our teams are shipping more features and iterating more quickly.”

“You don't need to inquire with the data scientists to get data, we all have self-serve dashboards.”

“So I hope you all tune in.”

“Since we started outreach in October, over 100,000 homes have listed on Airbnb for the first time.”

“We beat and raised guidance.”

“It just speeds every single thing up.”