Tao Peng appointed president of Airbnb China

Airbnb Inc, a US-based vacation rental website, appointed Tao Peng, who built companies like Breadtrip and CityHunter and co-founded CityHome, as president of Airbnb China starting September.

Tao established Breadtrip and CityHunter, social applications that enable users to record and share their trips with their friends. He also co-founded and helped grow CityHome, a company that offers short-term rentals in homes and apartments across China.

"All of these companies are a little different, but at their core, they are all about changing the way travelers see and experience new places," Tao said.

According to Airbnb, there have been over 10 million guest arrivals by Chinese travelers in Airbnb listings around the world since the startup was founded in 2008, with over half occurring just in the past year.

The number of Airbnb listings in China has grown more than 125 percent in the past year. The growth comes as Airbnb has focused on quality and removed listings that do not meet its quality standards.

In 2017, the number of Chinese guests traveling on Airbnb grew by 100 percent, year over year, the company said.

Airbnb co-founder Nathan Blecharczyk said: "To succeed, we need an entrepreneur who knows China and is supported by a team of experts so that we can move fast and execute at the highest level. Tao is an exceptional leader and I can't think of anyone better suited for this role. I will continue to serve as chairman of Airbnb China."