fbpx
Sunday, February 28, 2021
No menu items!

Airbnb CEO says travel never going back to the way it was before pandemic

Airbnb Chief Executive Officer Brian Chesky on Thursday (January 14) predicted travel would permanently change due to the pandemic with people seeking out thousands of smaller cities and spending more time visiting friends and family.

Traditional tourism and sightseeing at top global destinations would be significantly reduced by travelers who will drive to smaller communities and fly less for business meetings.

Travelers are “yearning for what was taken away from them,” Chesky said at the Reuters Next conference in an interview with Jonathan Weber, Reuters global technology editor.

“They’re not yearning to see Times Square. What they are yearning to do is to see their friends and their families they have not seen in a long time.”

The startup was hit by the COVID-19 pandemic in early 2020 and its business dropped by 80% in a little over eight weeks.

However, as lockdowns eased, more travelers opted to book homes instead of hotels, helping Airbnb post a surprise profit for the third quarter. The San Francisco-based firm gained from increased interest in renting homes away from major cities.

The home rental firm went public in a blockbuster initial public offering in December, its shares more than doubling in their stock market debut. Shares of Airbnb rose as much as 10% to record high of $187.42 on Thursday.

(Production: Edward Baran)

Advertisement

Latest News

‘We have no time to waste’ – Biden urges Senate to pass $1.9 trillion COVID relief bill

President Joe Biden scored his first legislative win as the House of Representatives passed his $1.9 trillion...

U.S. Soccer votes to end ban on players kneeling during national anthem

United States Soccer on Saturday (February 27) voted to end a ban on players kneeling during the national anthem, something they have...

Biden says announcement on Saudi Arabia will be released on Monday

President Joe Biden on Saturday (February 27) said his administration would make an announcement on Saudi Arabia on Monday, following a U.S....

U.S. authorizes Johnson & Johnson’s COVID-19 vaccine

The U.S. government on Saturday (February 27) authorized Johnson & Johnson's single-dose COVID-19 vaccine, enabling millions more Americans to be vaccinated in...

Harris says pandemic has accelerated disparities for Black Americans

Vice President Kamala Harris on Saturday (February 27) highlighted the toll Coronavirus has had on African-Americans during an event celebrating the 40th...

More Articles Like This