The news: Airbnb may launch a loyalty program at some point, chief business officer Dave Stephenson told Bloomberg. The company has all the ingredients “that would make a compelling loyalty program,” he said—especially following the launch of Airbnb’s services and experiences booking platform.

Up in the air: Airbnb has no timeline yet for a loyalty launch—and it’s not clear what form that program would take. The challenge is to make it unique, and not just another “points for dollars” offering, Stephenson said.

One possible model is Amazon Prime, which CEO Brian Chesky has cited as an exemplar in fueling loyalty as well as frequent purchases to Amazon. Offering a paid membership that gives access to “differentiated offerings and better service” could help embed Airbnb deeper into people’s lives, encouraging engagement with the company on a monthly or even weekly basis.

• That would be even easier to do now that Airbnb allows users to book everything from personal training services to photographers to spa sessions on its platform, giving it more avenues to soak up spending even among people who aren’t traveling.
• But success would depend on whether Airbnb can give people a compelling reason to turn to its platform for those services—and what perks it could offer to sweeten the deal for would-be subscribers.

Our take: While it’s hardly surprising that Airbnb, a company that has thoroughly disrupted the travel industry, would be reluctant to copy its competitors’ approach to loyalty, there is something to be said for simplicity. What worked for Amazon may not translate as well to Airbnb, given the number of competing platforms that offer similar services—and the fact that most of what it offers is highly discretionary.

Still, should Airbnb pursue a loyalty program, its unconventional approach could help draw more spending from its most devoted users at a challenging time for the industry.