Airbnb Is Closing Its Domestic Business In China

According to CNBC, Airbnb is closing its domestic business in China. From the report: All mainland Chinese listings -- homes and experiences -- will be taken down by this summer. Airbnb formally launched its mainland China business in 2016 and has faced mounting competition from domestic players. Sources say that the segment was already costly and complex to operate. The pandemic worsened these issues and heightened their impact.

Despite in-country branding and putting Airbnb cofounder, Nathan Blecharczyk, at the head of efforts, stays in China on the platform have accounted for approximately 1% of revenue for the last few years. Sources say Chinese outbound travel has been a bigger opportunity for Airbnb and the company will refocus on providing listings for Chinese travelers going abroad. One source says the overlap between Airbnb's outbound and domestic businesses was not strong. Airbnb will maintain an office in Beijing with hundreds of employees, according to one source.

Will they unlock the current renters?

[oblom]

What about the skeletons of the customers who've rented before the lockdowns?

Good now do the United States

[rsilvergun]

Airbnb violates long-standing zoning laws that exist for a reason. We have people taking tons of single family homes off the market to turn them into Airbnb. Many of them are small renters trying to make a fast buck. Maybe they make money or maybe they don't doesn't matter all that matters is that the house and prices are skyrocketing because so much inventory is completely off the market.

If you already bought your house before housing prices shot up and don't think this affects you think again. First a

Re:

[pacinpm]

I'll definitely take my chances of being shot over those of being killed by home made nerve gas or a truck/suicide bomb. Because, of course, if all the guns in the US were confiscated, the wanna-be mass murderers will just think "damn, can't find a gun to kill people with" and give up.

They will most likely do give up. Look at all other civilized countries. Regular mass shooting are only in USA.

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[opps sorry my bad]

Yeah, sure. LOL

Tell me about the IRA who, after they had a hard time getting guns, DIDN'T switch to home made explosives. Or the Aum Shinrikyo cult who, living in a country that no one is allowed to own a firearm, instead cooked up and released sarin gas in the Tokyo subway (twice). Or the Japanese guy who drove his car through a new years celebration. Or the malcontents doing the mass stabbings in Europe...

Amazing how the unavailability of guns made these bad folk just give up, huh?

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[pacinpm]

You picked few event from like 40 last years. Remind me how many massacres you had last month in USA?

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[opps sorry my bad]

The mass stabbings are actually a recent thing for Europe and the IRA is still a going concern, but, I see your point. If it hasn't happened this month, it hasn't happened. It must be blissful in your ADD induced history-deprived world. You'll be fine, just remember to take your meds! LOL

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[tomhath]

I think you give Airbnb too much credit. Other than in a few tourist destinations, the percentage of houses being dedicated to Airbnb in any given market is tiny and doesn't have anywhere near the impact that unrealistically low interest rates and printing Trillions of dollars had.

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[angel'o'sphere]

Airbnb violates long-standing zoning laws that exist for a reason. We have people taking tons of single family homes off the market to turn them into Airbnb.
I'm not aware about a country that have zoning laws that forbid AirBNB.

How the funk would that be possible?

"Zoning laws" are about commercial buildings versus housing, etc. It is completely legal to offer a room on AirBNB in a housing zone, that is the damn point about AirBNB. And for your stupid interest: every damn hotel, except very few exceptions, i

There are zoning laws against rentals

[rsilvergun]

in non commercial districts in all jurisdictions. These were created ages ago explicitly to prevent AirBnB style short term rentals. Long before the Internet cities had trouble with short term rentals using up all the houses and apartments and making housing unaffordable. AirBnB violated the law "with an app" though, so that's somehow suddenly legal.

This isn't going to end well. people who can't afford to live get violent, and the United States has a *lot* of guns. give people homes or get ready for rov

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[Camel Pilot]

In my local area next to a NP, the VRBO craze is transforming my neighborhood. People are buying teardowns and squatter houses, pouring in money, refurbishing and making the neighborhood better, cleaner and safer. Not to mention all those VRBO are creating jobs for people maintaining the houses and landscaping for the long term. I would prefer to have a VRBO next door compared to long term rental that tend to get rundown over time.

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[account_deleted]

Comment removed based on user account deletion

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[real_nickname]

China is one of the biggest capitalist nation. Top 2, just behind burgerland. That's how it works.

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[ShanghaiBill]

Uh, . . . how does that even work in a socialist nation?

Have you been asleep for the past 40 years?

China is not socialist.

You know it is tough when

[jbmartin6]

Despite in-country branding and putting Airbnb cofounder, Nathan Blecharczyk, at the head of efforts

Well if Nate couldn't pull it off, with his long history of developing businesses in China (sarcasm), there's clearly no way it could get done.

Same script

[tomhath]

Airbnb formally launched its mainland China business in 2016 and has faced mounting competition from domestic players.

Open a business in China, they'll copy it and put you out of business. Airbnb should've expected that.