The rental giant, hit hard by the health crisis, can no longer compete with the competition of other local players.
After six years of activity, Airbnb is preparing to return the keys to its business in China.
Chinese travelers will still be able to use Airbnb to go abroad
The American giant would have warned its employees on site based in Beijing at the beginning of the week. Listings of homes and experiences on the platform are expected to be blocked and listings removed sometime in the summer.
Arrived in 2016 on the Chinese market, Airbnb has never succeeded in imposing itself against very aggressive national players. The Covid-19 pandemic hasn’t helped the company, with tourism coming to a screeching halt during lockdowns, but travel to China has never accounted for more than 1% of company revenue, despite large communication campaigns.
After a soft spot in 2020 and the dismissal of nearly 25% of its workforce, Airbnb is recovering with the return to normal in the tourism sector and has preferred to stop the costs as quickly as possible.
The company will, according to several sources, refocus on overseas travel offered to Chinese tourists. The application will remain active in China and employees will keep their jobs.
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Airbnb is unquestionably the leader in its market. We like the quality of the service and the integral management of the payment by the platform.
Source : CNBC
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