The Chinese brand name for Airbnb loosely translates as "welcome each other with love", and the company hopes a distinct Chinese identity will help it crack the market.
In the same way that Uber saw its ambitions in China thwarted by Didi (and spent over $1 billion in the fight), Airbnb will be up against Chinese company Tujia.com, a direct competitor that's also raised a lot of cash and is valued at over $1 billion by its backers.
After a few years of taking baby steps in China, Airbnb has now taken a foothold with a dedicated brand for the market, adding Shanghai experiences and promising to double its investment and triple its workforce.
To date, there have been more than 5.3 million guest arrivals by Chinese travelers at Airbnb listings all over the world.
As for Airbnb, it is offering 80,000 Chinese properties and partnerships with four big cities. Airbnb china investment has been resulting in good profits for the company due to which it has made a decision to increase the investment and focus on growth in China.
China's travel and tourism sector is expected to grow by 7% each year for the next ten years.
Tujia has staked a huge claim on its home turf, with more than 430,000 listings covering 312 cities and towns across China.
Airbnb has released its latest innovation Trips with the launch of Airbnb Experiences in Shanghai. Already the company provides 24/7 customer support in Mandarin and has partnered with local payment methods like Alipay and WeChat to help make things easier for Chinese customers.
Airbnb ranks South Africa, one of the earliest adopters of Airbnb, as the No. 1 country in Africa in terms of listings and visitors, with many of them from the United States, Germany, Britain, and the Netherlands.
AIRBNB, the hospitality exchange service provider, gave itself a new Chinese name today, representing the firm's ambition to expand into the Chinese market.
"We hope that Aibiying. strikes a chord with [Chinese travelers] and inspires them to want to travel in a way that opens doors to new people, communities and neighborhoods across the world", Chesky said.
In November, Airbnb announced that it was spinning off its Chinese business into a separate company called Airbnb China.
While local companies such as Tujia, Xiaozhu and Zhu Bai Jia use the same fundamental business model as Airbnb's, some have already shown ingenuity in expanding services beyond just home-sharing. Next on its to do list is "rethink the core booking experience to go even further in meeting the needs of Chinese users".