Airbnb on Wednesday announced new upgrades to its booking platform to make it more competitive with hotels, such as revamping its ratings and reviews pages and highlighting "guest favorites," or homes with a near-perfect rating. The company launched "guest favorites" a collection of 2 million of its 7 million homes that are "most loved" based on reviews and reliability and are rated above 4.9 stars on average. The top reason why people stay in hotels is because they know what they are going to get and it is reliable, Chesky said, adding that making Airbnb more tried-and-true based on reviews would aid with growth.
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