The home-sharing platform generated earnings of about $100m last year while bookings grew around 150 percent, a contrast with other “sharing economy” peers such as Uber and Lyft that are losing money. The 2017 year marks the first full year of generating income for the San Francisco-based company, which became profitable in the second half of 2016. The company has announced that Ken Chenault, chief executive of American Express, would be joining its board as the first independent director.
On Thursday 25, Airbnb Co-Founder, CEO, and Head of Community Brian Chesky send a letter to the Airbnb Community outlining his vision to build not only a 21st Century Company but one that lasts the 22nd as well. In his letter, he stressed the importance of appeasing not just employees and shareholders, but also the wider community outside of the Airbnb bubble.
Boston’s Mayor announced that today he will file a citywide ordinance establishing guidelines and regulations to better track and regulate short-term rentals in the City of Boston. The new regulation will classify short-term rentals into three groups: Limited Share Unit, Home Share Unit, Investor Unit. Each group will pay a different fee: $25, $100 and $500 per year. The regulations also provide protection for the occupants of the short-term rental unit by prohibiting any property with outstanding housing, sanitary, building, fire or zoning-code violations from being listed.
A new study has stated that U.S. millennial travelers, American travelers between 20 and 36 years of age prefer full-service hotels to an Airbnb rental, even as the home-sharing service expands in 65,000 cities and in preparation for an imminent IPO. The paper “2018 Future of Millennial Travel Report,” has been published by Resonance Consultancy and has surveyed more than 1,500 active U.S. millennial travelers, finding that despite 52% of respondents saying they regularly or occasionally use owner-direct rental services like Airbnb, it’s actually among their least preferred accommodation choices. Only 23% said that a short-term apartment or condo rental was their preferred type of accommodation.
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