Airbnb created an industry and changed the face of many neighbourhoods. Now it’s facing the challenge of the coronavirusAirbnb was built on the premise of bringing the world closer together. Tourists could travel like locals, while locals could cash...
Airbnb created an industry and changed the face of many neighbourhoods. Now it’s facing the challenge of the coronavirus
Airbnb was built on the premise of bringing the world closer together. Tourists could travel like locals, while locals could cash in on their desirable neighbourhood properties by letting those visitors in. Last year the company was estimated to be worth more than US$30bn. It is scheduled to go public in 2020. Then came the Covid-19 pandemic.
Travel is suspended. Australians are almost entirely confined to their homes. Now the once heralded disruptor is seeing a collapse in bookings. The hosts who have become reliant on income-generating properties to pay their bills are being bled dry by a lack of business, and already-suspicious neighbours are up in arms over the potential that short-term renters may spread the virus.
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