Posted on - February 20th 2026
This week’s short-term rentals and hospitality headlines spotlight major moves from the OTA giants as they deploy new features to capture guest loyalty and bookings.
From Airbnb’s long-awaited loyalty tests to payment flexibility going global and weather guarantees entering the distribution mix, these platform developments signal intensifying competition for direct bookings and operators need to understand what’s coming.
After nearly seven years since shelving its “Superguest” programme, Airbnb is finally experimenting with loyalty benefits and CEO Brian Chesky believes it “could be a massive accelerant” for the platform’s growth.
During the company’s recent earnings call, Chesky confirmed multiple loyalty approaches are being tested, though he stressed any final programme would differ markedly from traditional points systems. “We want to do something much more unique,” he said, suggesting a model closer to Amazon Prime; potentially a paid membership offering tangible benefits rather than transactional point accruals.
One visible test emerged on Reddit this week: “top-rated guests” with 4.8+ ratings and at least three reviews were offered discounts of 10-15-20% on participating properties from 12 February to 12 March.
The catch? Hosts fund the discounts in exchange for higher visibility on the platform.
What does this mean for operators? Airbnb’s loyalty push represents a fundamental shift in how the platform competes for repeat bookings. Whilst Chesky emphasised strong growth without loyalty programmes or sponsored listings, the move suggests Airbnb sees room to increase booking frequency amongst its existing user base. For property managers, this could mean increased pressure to participate in host-funded discount schemes to maintain visibility, or risk being deprioritised in favour of hosts willing to subsidise guest loyalty. The long-term question: will Airbnb’s loyalty benefits make guests even stickier to the platform, making direct booking conversion harder?
The loyalty tests mark a return to ideas first floated in 2018, when Airbnb hired Amazon Prime architect Greg Greeley to develop a “Superguest” programme. That initiative never launched, and Greeley departed in 2020. Whether this iteration reaches the market remains to be seen, but Chesky’s public commitment suggests Airbnb is serious this time.
Airbnb has rolled out its Reserve Now, Pay Later feature globally for both domestic and international trips, following positive results from US testing that showed 70% adoption rates for eligible bookings.
The payment option, which Airbnb tested last summer before launching to US travellers in August 2025, allows guests to secure bookings without immediate full payment.
According to the platform, the feature helped accelerate nights and seats booked between Q3 and Q4, addressing a key friction point: 42% of travellers in an Airbnb-commissioned survey said they’d delayed or missed out on preferred accommodation whilst coordinating payments with fellow travellers.
The global expansion adds to Airbnb’s existing payment options including Pay Part Now, Part Later and Pay Over Time with Klarna, creating a suite of flexible payment tools that compete directly with OTA offerings.
What does this mean for operators? The short-term rental management space had mixed reactions when Reserve Now, Pay Later first launched. Some operators expressed concern about increased risk of “empty nights” and questioned booking reliability. Others saw it as essential to compete with OTA payment flexibility. The 70% adoption rate for eligible bookings suggests guest demand is real, meaning operators who don’t offer comparable payment options through their direct channels risk losing bookings to platforms that do.
The challenge? How to replicate this flexibility whilst managing cash flow and cancellation risk without a platform-sized balance sheet.
Airbnb’s Q4 results showed net income of $341 million (down from $461 million in Q4 2024), with adjusted EBITDA of $786 million and nights and seats booked reaching nearly 122 million, up 10% year-over-year.
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Expedia Group’s Vrbo has partnered with WeatherPromise to offer guests automatic compensation when rain exceeds predetermined thresholds during their stay: no claims filing required.
Available on select US reservations, the optional add-on tracks destination weather in real-time and automatically refunds guests if rainfall surpasses location-specific criteria based on historical weather patterns. Crucially, guests can still take the trip and receive compensation, differentiating it from traditional travel insurance.
“We can’t control the weather, but with WeatherPromise, guests can get a full payout for their vacation when the forecast doesn’t go as planned,” said Larry Plawsky, general manager for Vrbo.
What does this mean for operators? Weather-related refund requests have long been a friction point for property managers, particularly in seasonal destinations. Vrbo’s move to offer weather insurance as a bookable ancillary could reduce direct pressure on hosts to handle complicated refund negotiations when conditions turn poor. However, it also represents another point of differentiation that makes the OTA booking experience more attractive than direct channels.
Madeline List, manager of research and special projects at Phocuswright, noted the partnership “could help act as a differentiator for Vrbo, which has long been overshadowed by Airbnb in terms of consumer awareness in the STR category.” The critical test, she added, will be actual attachment rates: the pricing and promise must appeal enough to drive uptake.
For operators competing on direct bookings, the question becomes: do you need to offer similar weather guarantees to stay competitive, and if so, how do you manage the risk?
NOT A HOTEL Raises €55 million for luxury villa expansion: Japanese luxury villa platform NOT A HOTEL has secured ¥10.1 billion (approximately €55 million) in Series C funding combining equity and debt. The company’s fractional ownership model allows multiple owners to share designer properties, with access to nine locations and over 1,100 owners currently on board. The funding will support expansion across Japan.
Hostaway Partners with Plum Guide for Premium Distribution: Vacation rental software provider Hostaway has integrated with Plum Guide, the curated booking platform known for design-led, high-quality stays.
The partnership gives Hostaway users access to Plum Guide’s selective European audience whilst managing bookings centrally. Properties must pass rigorous design, comfort and experience criteria to be accepted on Plum Guide, positioning the integration as a premium distribution channel for professionally managed portfolios seeking higher-value guests.
Marcus Rader, CEO and Co-Founder of Hostaway, said: “Successful operators increasingly depend on a balanced distribution strategy rather than a single dominant channel.” Doron Meyassed, CEO at Plum Guide, noted that “guests are increasingly looking outside of traditional channels for high-quality vacation rentals,” with the partnership allowing Plum Guide to expand inventory without compromising standards.
Have a story the industry should be paying attention to? If you’re tracking regulation changes, market movements, destination trends or major developments in short-term rentals, serviced accommodation or hospitality, send your news to the Wire Team and feature in an upcoming roundup.
