The main headlines of Fox Business Flash are here. Check out what is clicking on FoxBusiness.com.
Airbnb CEO Brian Chesky predicted on Thursday that travel would change permanently due to the pandemic with people looking for thousands of smaller cities and spending more time visiting friends and family.
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| ABNB | AIRBNB INC. | 180.50 | +10.51 | + 6.18% |
Traditional tourism and sightseeing in major global destinations would be significantly reduced by travelers who would drive to smaller communities and would fly less for business meetings.
AIRBNB WILL BLOCK, CANCEL ALL DC RESERVATIONS DURING THE OPENING
Travelers are “looking forward to what has been taken from them,” Chesky said at the Reuters Next conference in an interview with Jonathan Weber, Reuters global technology editor. “They are not looking forward to seeing Times Square. What they want to do is see their friends and families that they haven’t seen in a long time. “
The startup was hit by the COVID-19 pandemic in early 2020 and its business dropped 80% in just over eight weeks.
Airbnb CEO Brian Chesky predicted on Thursday that travel would change permanently due to the pandemic with people looking for thousands of smaller cities and spending more time visiting friends and family.
However, as blockages have eased, more travelers have chosen to book homes instead of hotels, helping Airbnb make a profit in the third quarter. The San Francisco-based company has gained from increased interest in renting homes outside major cities.
The home rental company went public in a highly successful initial public offering in December, its shares more than doubling in its stock market debut. Airbnb’s shares rose as much as 10% to a record high of $ 187.42 on Thursday.
DISCOVER FOX BUSINESS ON THE MOVE BY CLICKING HERE
The rental platform is canceling home-sharing reservations in the Washington DC area for President-elect Joe Biden’s inauguration next Wednesday, after police warned of an armed militia threat.
Chesky recalled the white supremacy rally in Charlottesville, Virginia, and said he did not want the platform to facilitate people traveling to commit violence in the communities.
Airbnb made the decision, after consulting local and federal authorities, and after several hosts concerned about potential attacks, to try to cancel reservations.
CLICK HERE TO READ MORE ABOUT FOX BUSINESS
However, major hotel chains, including Hilton Worldwide Holdings Inc and Marriott International, said they plan to maintain existing reservations.