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On Tuesday, two Singaporean Airbnb hosts were fined 60,000 Singapore dollars ($ 45,800) each for leaving apartments without official permission.. (Shutterstock / AlesiaKan)
Airbnb said in its stock market file on Monday that the home-sharing model has proven resilient during the global pandemic, posting a profit for the just-ended quarter.
The San Francisco-based startup made $ 219 million in profits in the three months ending in September, but nonetheless lost $ 697 million in the first nine months of the year amid a 32 percent drop in revenue with the outbreak of the Coronavirus. Noob strip.
In its first public release of financial statements, Airbnb said its home-sharing model was « resilient » compared to others in the sector during the crisis.
The document said: “People wanted to leave their homes and were eager to travel, but they did not want to go far or be in crowded hotel lobbies,” according to the document.. “Our platform has proven to be adaptable to service these new travel routes.
Airbnb revenue decreased to $ 2. $ 5 billion in the first nine months of 2020 from $ 3. 7 billion a year ago. Its losses in the nine-month period were roughly in line with last year’s level.
The company mostly incurred losing profits, according to the filing, but posted a profit in the third quarter of every year as of 2018.
But Airbnb said its unique business model has proven important for both hosts and travelers looking for a safe environment during the global health crisis..
« We believe that the stability of our active listings highlights the resilience of our business model, which does not require investment in fixed assets and real estate, ».
The 13-year-old said the COVID-19 outbreak has “materially negatively affected our recent operational and financial results” and will continue to have an impact..
« Nevertheless, we believe that as the world recovers from this pandemic, Airbnb will be a vital source of economic empowerment for millions of people, ».
She said that the epidemic « has reinforced that travel is a permanent human desire, even in the face of challenges: and that people are looking for travel options close to their homes. ».
« We offer all types of accommodation, allowing guests to find spaces suitable for their individual needs under these conditions.
Airbnb recently implemented new security protocols for many of its hosts and claims that lists that meet its upgraded guidelines are safer than hotels during the pandemic.
The platform now contains more than four million listings in about 220 countries around the world and has served more than 825 million reservations..
“We are a community based on connection and belonging, and we will continue to design new ways to provide this,” said in a letter from Airbnb’s founders.
“As the world continues to change, people’s primary need to connect and belong will not be. This is what we will be focusing on.
Airbnb, Pandemic, Initial Public Offering, Profit
World News – African Union – Airbnb says engagement model has proven ‘resilient’ amid the pandemic
Ref: https://www.thejakartapost.com
