The platform is looking to grow by dipping its toes into real estate development and longer rentals

Airbnb has completely changed the way people travel and look for temporary housing, and now the company is reported to be expanding its presence even further with new branded apartments that are currently under construction in Florida.

According to details provided by The Information, Airbnb is working with a real estate developer in Kissimmee, Florida to build new apartment complexes from the ground up as a proof-of-concept. The interesting part is that Airbnb reportedly won’t own or even contribute to the costs of the building; rather, the company is simply licensing its name to further extend its brand presence. This, as The Information points out, is not unlike what hotel chains like Marriott already do.

Airbnb is hoping the apartment units will appeal to younger renters who work part-time in the Orlando area, but who want to sublet their apartment (via Airbnb) when they are out of town. This arrangement would benefit the tenants, developers and Airbnb, all of whom would get a cut from such deals. Airbnb sees the properties as a way to continue to fuel growth in its listings, which have slowed as many major cities have regulated short-term rentals. The apartments would also give Airbnb increased control over the quality of its offerings and draw in a different consumer who is more accustomed to mid-tier and luxury hotels.

The company has yet to officially announce the project, but more details are expected to be revealed soon.

Airbnb

Airbnb has completely changed the way people travel and look for temporary housing, and now the company is reported to be expanding its presence even further with new branded apartments that are currently under construction in Florida.

According to details provided by The Information, Airbnb is working with a real estate developer in Kissimmee, Florida to build new apartment complexes from the ground up as a proof-of-concept. The interesting part is that Airbnb reportedly won’t own or even contribute to the costs of the building; rather, the company is simply licensing its name to further extend its brand presence. This, as The Information points out, is not unlike what hotel chains like Marriott already do.