Airbnb's hotel nights grew three times faster than its homes. In the same quarter it started charging some hosts 6% instead of 15.5%.

Airbnb told shareholders in August that hotel nights booked grew roughly three times as fast as its homes business, while conceding hotels remain a single-digit share of nights. Days later it began piloting reduced fees of 6% or 10%, against a company average of 16%, for hosts who bring their own guests through shareable links. Both moves price the same thing: who produced the customer.