Airbnb has finally made its mind to go for the one big crack in the Chinese market, which will probably make or break its destiny in the world's largest tourism market. The U.S. accommodation company on Wednesday announced slew of measures for China in a bid to get better off its local rivals Tujia and Xiaozhu.   

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Airbnb's new plans include doubling investment and tripling its workforce in China in the current year, as well as kick starting a new advertising campaign and also new tour program for Shanghai. All these plans are part of the company's efforts to sharpen its focus on China's domestic market, a departure from its earlier plan to focus more on China's international tourists.

Apart from these ambitious plans, Airbnb also announced a new Chinese name Aibiying, which means "welcome each other with love." The company claims that the new Chinese name would be easier for local consumers to pronounce and help in popularizing its brand across the country.

All these new measures were announced by the company's Chief Executive Officer Brian Chesky at a conference in Shanghai. Chesky's presence in China to announce these new measures tells a lot about the importance that Airbnb attaches to the Chinese market.              

Chesky claims that China's new age travellers will help to widen the company's presence in the lucrative domestic market. "There's a whole new generation of Chinese travellers who want to see the world in an entirely different way," he said in a statement.

Chesky's claim is supported by market numbers claiming that 80 percent of Airbnb users in China are well under the age of 35, a much younger age group than in other competing markets.

Currently, Airbnb ranks third behind local rivals Tujia and Xiaozhu in accommodation listings. The San Francisco based company claims that it has roughly 80,000 listings within China and has been visited by almost 1.6 million guests.

It was earlier reported that the company was holding talks to acquire Xiaozhu's business, but there has been no latest news so far on that front.       

Airbnb was founded in October 2008 as an online marketplace that would allow people to lease or rent short-term lodging including vacation rentals, apartment rentals, homestays, hostel beds, or hotel rooms.

After a very modest beginning, it steadily became one of the fastest growing start-ups in the world. Today the it boosts a valuation of more than $30 and counts reputed names such as Y Combinator, Hillhouse Capital Group, Tiger Global Management and Google Capital as its reputed investors.          

TagsAirbnb, china, Airbnb China, Brian Chesky