Airbnb launches recommendations tool to become competitive with TripAdvisor and Yelp
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Airbnb is getting into the recommendations business in an effort to become more competitive with TripAdvisor and Yelp.
The peer-to-peer lodging service has debuted Guidebook, a tool that offers local business recommendations and reviews to renters, according to the New York Times. Guidebook lets Airbnb users share information about restaurants, bars, attractions, and more.
This app should extend the life of Airbnb transactions. Renters previously had no reason to use Airbnb after they confirmed their reservation, but now they can spend more time on the site or in the app by browsing recommendations and reviews. Furthermore, Guidebooks should put Airbnb on par with Yelp, TripAdvisor, and Foursquare in terms of one-stop travel booking services.
The new tool is another way Airbnb is trying to disrupt the hospitality market. The site has already been taking market share from traditional hotel chains, as U.S. travelers who have used Airbnb at least once in the last five years are more likely to use a P2P lodging service than a traditional hotel in the future, according to Goldman Sachs data cited by Bloomberg.
But hotel chains are making moves to hold their ground. Expedia recently acquired HomeAway, another home rental site, for $3.9 billion. And as travelers clamor for alternatives to hotels, online travel agencies such as Expedia must take advantage of this trend.
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