Thu. May 28th, 2020

Airbnb prepares for the post-emergency: $ 1 billion raised

3 min read

Airbnb thinks about the post-emergency. The company raises $ 1 billion from two new investors to make the effects that the coronavirus pandemic will leave hopelessly on the sector. Two US investment companies entered the online short-term rental platform, which was hit hard by the confinement measures that now affect half of humanity, Silver Lake and Sixth Street Partners. The new resources will serve in particular to invest in the development of the offer of long-term stays for students and away workers.

“These new resources will support Airbnb's work to invest in the long term,” says the San Francisco-based company. Before the pandemic broke out, Airbnb had announced plans to enter the stock exchange in 2020, with an estimated value of up to $ 35 billion. In the press release issued in the (European) night, the company does not specify the financial impact of the crisis, but recalls its history. Airbnb was born “during the great recession of 2008” and is betting on a rebound in travel when people can move again.

“The desire for connections and travel is a human prerogative, which will emerge strengthened from this period of separation – he says Brian Chesky, co-founder of Airbnb – 'We will see new flexibility in the world where people work and move, including a greater interest in travel closer to home. “

Airbnb's operation should be read in light of the negative effects that the pandemic will have on the tourism sector. According to World Travel & Tourism Council (Wttc) losses will be 25% globally with an estimated job loss of 50 million units. Among the countries that will suffer most from the Philippines, Thailand and Greece. Italy is also at high risk, where tourism is worth over 100 billion euros and employs more than 3 million people.

The letter from Confindustria Alberghi to Ota

Confindustria Albergji writes to OTA (Online travel agency) to implement a common strategy to overcome this moment. “We know that it will not be easy and that we will need the help of many, even those who, to date, have considered us as a commodity that is put on and off the shelf according to the logic decided by an algorithm – reads the document – Today we are aware that we cannot and do not want to be just a commodity anymore, around us revolves well over 15% of the national GDP and an even greater share of the occupation of this country. Restarting this machine will be essential for our families, but also for Italy “.

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The hotel companies therefore ask the OTAs to guarantee greater “Transparency, clarity in contracts, fair conditions, respect for the rules”.

The proposal is to open the facilities to Italian customers by fixing “one symbolic commission that allows us to keep the survival needs of our businesses in balance and offer those who, like us, have faced these difficult months, the opportunity to find some peace and serenity. By working together and making sacrifices, we will restart tourism in our country “.

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