Name: Airbnb能否生存？ (Can Airbnb Survive?)
Uploaded: 2021-01-14T11:00:21.000Z
Duration: 14 min 50 s
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Airbnb is one of many businesses in the travel industry that has been

If you happen to be working in the travel industry, your entire basis

You can assume its occupancy rates have completely fallen off a cliff.

In March of 2017, Airbnb was valued at 31 billion dollars.

By the end of April 2020, the value dropped to 18 billion.

At the beginning of May, the company was forced to lay off 25 percent

of its staff, nearly 19 hundred individuals.

CEO Brian Chesky told employees that revenue this year was forecasted

to be less than half of what the company earned in 2019.

They need people to be booking or, you know, they could be in

trouble. The company was founded in 2008 by three friends from

college, starting with their own apartment as the first listing.

The hosts list their properties on Airbnb, the guests book those

properties on Airbnb and Airbnb takes a cut from both sides.

They take a percentage of every booking, which is very similar to how

The company grew quickly and today has over seven million listings

worldwide. In January 2020, Airbnb saw 50.2 million Web site visits.

Airbnb competition, VRBO saw 14.7 million visits in the same month.

Today, Airbnb, by the number of rooms that it has or the number of

nights that it books is by far the largest operator in the

No hotel company can compete with the scale.

But the global pandemic is proving to be Airbnb's greatest challenge

yet. The company is struggling with cancellations and reimbursements

after Airbnb announced it would be refunding customers whose

reservations fell within a certain timeframe.

This angered many hosts who were stuck having to pay back most, if

No one knows what to do in this situation.

Many guests were also angered by the way Airbnb handled refund

Which is completely unfair, and that's a lot of money, man.

And while social distancing measures were in place, some local

governments deemed short term rentals as non-essential businesses,

adding more stress to hosts who rely on Airbnb for income.

Airbnb hosts, if they're going to try and have their business, they're

It was speculated that Airbnb would go public in 2020, but that goal

Certainly it would be very difficult in this environment.

With the threat of more cancellations as the pandemic cripples the

travel industry, guests, hosts and investors like are left asking

what Airbnb will look like after the Coronavirus pandemic or whether

Airbnb be defined an entire subgenre of the travel industry as it

Kleenex and Kleenex, it's tissue and Airbnbs aren't Airbnbs, they're

Airbnb doesn't have a viable competitor, at least in the United States

Though it quickly became a market leader, it does not have an

The platform has been criticized for driving up rent prices and

contributing to housing shortages in major cities.

It has also been criticized for racial discrimination, illegal

listings, hosts using spy cams, troublesome, sometimes deadly house

Despite these conflicts, Airbnb was doing well.

According to source says Airbnb actually was profitable in 2017 and

2018. And that's actually seen as a little bit rare for a unicorn of

its size that has this marketplace in the gig economy.

In 2019, however, Airbnb burned through more money and is thought to

The company was aiming to go public in 2020.

We think next year will be the right time for us.

Ok. They have very strong market position.

Everything was pointing in the right direction.

As Covid-19, spread across the globe, travel ceased and Airbnb lost

nearly 42 percent of its value from March of 2017 to April of 2020.

You have to ask, did Airbnb wait too long to go public?

On March 14th, 2020, Airbnb announced an extenuating circumstances

policy that suspended the cancellation policy set by Airbnb hosts.

If a guest book to trip on or before March 14th with check-in dates

between March 14th and April 14th, that guest was allowed to cancel

The policy was extended to allow guests with reservations up until

May 31st and then again to June 15th to be eligible for either an

Airbnb credit or the more selective option, a full cash refund.

In any two sided market, you always figured out who you're going to

subsidize more and what you're going to actually screw more.

This was a blow for hosts, some of whom would lose thousands from the

new policy. Cancellations are a detriment to the host's bottom line.

That's why on Airbnb platform, the hosts choose the cancellation

They made a policy change that overrode every single partners

They made the decision to give guests who fit a specific window, a

100 percent refund, regardless of whether, you know, you as a host

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Airbnb能否生存？ (Can Airbnb Survive?)

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