Airbnb expands through the launch of "Trips"

Airbnb has launched a new programme called Trips in a move to transform the booking service into a travel company.

The launch marks the biggest expansion the company has made since it started eight years ago as a peer-to-peer property rental service.

Chief executive Brian Chesky introduced the programme at a three day event in Los Angeles on Thursday, saying it would offer travellers the opportunity to create itineraries for hours or days that lead to a more authentic local experience.

“If you want to travel, you basically end up on a research project. We want to fix this,” said Chesky.

An example the BBC gave was a guided tour from a prison warden who was tasked with keeping watch over Nelson Mandela at his prison cell.

The service is now available as an upgrade on the Airbnb app in four cities in the US- Detroit, Los Angeles, Miami and San Francisco- and eight other cities around the world- Cape Town, Florence, Havana, London, Nairobi, Paris, Seoul and Tokyo. The number of cities will be brought up to more than 50 next year, Chesky said.

The expansion may enable Airbnb to justify its $30bn valuation, which surpasses most hotel companies.

The service comes as the company faces regulatory restrictions around the world with cities like Amsterdam, berlin and New York working to limit the short term rentals due to its negative effect on the supply of housing in tight rental markets.

Last month, the governor of New York, Andrew Cuomo, signed a law that would place new regulations on online home rental companies like Airbnb.

Existing legislation prevents New York apartment owners from renting out their flats for less than 30 days if they are not present. The company are currently trying to fight the law according to reports.