Airbnb Closing its Business in China

Airbnb said Tuesday it would close its business inside China indefinitely amid the lockdowns and travel restrictions as part of China’s zero-COVID policy.

According to an Airbnb notice shared across Chinese social media, Airbnb would cease taking all bookings for accommodation and experiences in China starting July 30.

Reports said that the decision to shut down Airbnb’s domestic business in China was due to the heavy pandemic restrictions that affected local and global tourism.

Airbnb said that when it operated in China in 2016 with domestic listings across the country, about 25 million guests have made bookings, but the revenue from China-based stays accounts for approximately 1% of global takings, and COVID-19 has only decreased the numbers.

However, as the rest of the world reopens, Airbnb said it reached a record high number of bookings in the first quarter of this year, with more than 102 million bookings for accommodation and experiences.

“Guests are booking more than ever before,” Airbnb told shareholders in a letter. “Looking ahead, we see strong sustained pent-up demand.”

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