Airbnb will abandon the Chinese market – Tourism & Leisure

Airbnb is expected to shut down all domestic activity in China by the summer, including home rentals and experiences. But the company is expected to remain in the country, with a focus on travel abroad.

The news is being advanced by the American television network, CNBC, which cites two sources familiar with the decision. The information on the closing of this section of the deal should be transmitted to workers tomorrow, Tuesday, in Beijing.

The US multinational home rental company officially launched the business in China in 2016 and has faced stiff competition from local companies. Sources who know the process tell CNBC that the deal has been complex and the pandemic has deteriorated operating conditions in the country. Stays in China have only accounted for 1% of Airbnb’s revenue in recent years.

It seems that the company will maintain an office, with hundreds of workers, in the Chinese capital, and should focus on travel abroad from China, which has proven to be an opportunity with greater financial stability. This new segment includes the preparation of accommodation lists for the country’s citizens who are planning trips abroad.