Airbnb to shut down domestic operations in China

Stefan Mileschin · 24th May 2022, 06:48

Airbnb is shutting down its business in mainland China this summer due to mounting costs and domestic competition, reported CNBC. The online vacation rental platform first launched operations in China in 2016, spurred by enthusiasm from Chinese tourists who frequently use it while traveling abroad. But according to sources who spoke to CNBC, Airbnb’s China segment became too complex and expensive to operate, particularly in light of the pandemic. Similar to what happened with Uber in China, a bevy of local competitors made it tough for the American company to gain an edge. Stays in China only accounted for one percent of the platform’s revenue for the past few years.

https://www.engadget.com/airbnb-to-s...8.html?src=rss

24th May 2022, 06:48	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,802	Airbnb to shut down domestic operations in China Airbnb is shutting down its business in mainland China this summer due to mounting costs and domestic competition, reported CNBC. The online vacation rental platform first launched operations in China in 2016, spurred by enthusiasm from Chinese tourists who frequently use it while traveling abroad. But according to sources who spoke to CNBC, Airbnb’s China segment became too complex and expensive to operate, particularly in light of the pandemic. Similar to what happened with Uber in China, a bevy of local competitors made it tough for the American company to gain an edge. Stays in China only accounted for one percent of the platform’s revenue for the past few years. https://www.engadget.com/airbnb-to-s...8.html?src=rss

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