Airbnb to close domestic business in China amid continuing lockdowns

Airbnb Inc. plans to close its national business in China after the harsh blockades of COVID-19 increase the pain of increased local competition, according to people familiar with its decision.

Bookings for stays and experiences in China typically account for about 1% of Airbnb’s global revenue, people said.

The housing company is a small competitor in China’s travel industry. It had more than 500,000 active properties as of April, according to market research firm AirDNA, of its more than 6 million global active listings.

So-called super apps like Meituan, which offers food and other services such as travel, dominate the market and can acquire new customers without spending as much as ABNB Airbnb.
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This makes it difficult to compete with them, said people familiar with the Airbnb decision.

COVID-19’s harsh and continuous confinement exacerbated Airbnb’s problems. People said it was more expensive to run a travel business in China, and the company decided it wasn’t worth the payment. CNBC previously reported on Airbnb’s plans to leave China.

An extended version of this report appears on

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