Airbnb has today announced that users will be able to split the cost of booking accommodation through its platform.
The Pay Less Up Front initiative means users only need to pay 50 per cent of the cost of their stay when booking, where they previously had to pay the full amount.
Targeted at guests booking expensive longer stays, it is only an option on reservations worth at least $250.
It follows research by the tech company which showed that January was the month in which British consumers said they most wanted to book a holiday, but that 30 per cent could not afford to do so.
“We understand it can be difficult to pay for all of your holiday upfront, especially in January when the purse-strings have to be held particularly tight," said James McClure, the general manager of Airbnb in the UK and Ireland.
"That’s why we’ve introduced our new feature which allows you to get holidays booked in advance – to make sure you don’t lose out when it comes to annual leave – then make the main payment for your holiday closer to your actual trip.”
Airbnb said it would also benefit hosts, making guests more likely to book in advance. The feature can only be used on bookings made at least 14 days prior to check-in.