cheryl
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What a Shrinking Airbnb Could Mean for the Future of Travel - Frommers
Like every other travel company, Airbnb was hit hard by the pandemic.
In May, CEO Brian Chesky admitted that the company’s future was in doubt this spring. Airbnb reacted by cutting 25% of its workforce, canceling $1 billion worth of marketing campaigns, and refocusing on rural properties that were away from traditional tourist hot spots and therefore better suited for social distancing.
It seems clear now that Airbnb will survive. But the company's rental properties may not be everywhere in the future, as they seemed to be just several months ago. That’s not only because of the pivot to distanced locations but also because some destinations are using the pandemic to reengineer their tourism industries, pushing out Airbnb in favor of affordable housing for locals.
Like every other travel company, Airbnb was hit hard by the pandemic.
In May, CEO Brian Chesky admitted that the company’s future was in doubt this spring. Airbnb reacted by cutting 25% of its workforce, canceling $1 billion worth of marketing campaigns, and refocusing on rural properties that were away from traditional tourist hot spots and therefore better suited for social distancing.
It seems clear now that Airbnb will survive. But the company's rental properties may not be everywhere in the future, as they seemed to be just several months ago. That’s not only because of the pivot to distanced locations but also because some destinations are using the pandemic to reengineer their tourism industries, pushing out Airbnb in favor of affordable housing for locals.