Airbnb to launch up to 14 home-sharing buildings in US by end-2019

SAN FRANCISCO: Airbnb Inc is set to debut another almost-hotel, and according to its development partner, it has many more to come.

The latest project for the Silicon Valley home-rental behemoth is a branded apartment complex in Nashville, Tennessee.

The property will be the company’s second announced Airbnb-branded building, and will lease apartments to a hybrid of long-term renters and shortterm visitors.

The new project is a takeover of an existing 328-unit building, called the Olmsted, in the SoBro neighbourhood of downtown Nashville, a popular tourist destination for music lovers and bachelor parties.

Airbnb’s partner, Niido, purchased the building last week. Under Niido’s new ownership, current residents of Olmsted will be encouraged to sublet their units to Airbnb travellers for a maximum of 180 days per year.

Airbnb and Niido will take 25 per cent of the income the residents generate from home-sharing. The two companies will jointly rent a portion of the remaining vacant units through Airbnb’s platform for short-term stays.

The concept, called “Niido Powered by Airbnb”, is part of a larger push by Airbnb to team up with real estate developers and facility managers.

By the end of next year, Airbnb and Niido will open as many as 14 Airbnb-branded complexes across the country.