Airbnb eyes expansion in China

US-based firm to further localization efforts with an eye on demand from millennial tourists

Airbnb is expanding its services to more second-and third-tier cities in China as the US-based firm that provides online bookings for homestay services looks to step up its localization efforts and attract a growing number of Chinese millennial tourists aspiring for high-quality travel and value accommodation.

Peng Tao, president of Airbnb China, said the company has sped up its expansion in China this year. "The Chinese business witnessed steady and rapid growth, and in terms of average monthly active users, we were the leader during the Jan-Oct period among all online vacation rental services platforms."

The company is extremely bullish on the Chinese market and will launch tailor-made and high-quality homes, products that conform with the usage patterns of Chinese consumers, said Peng.