Following Prime Minister Boris Johnsons announcement last week that the United Kingdom would begin easing lockdown plans with all restrictions lifted starting June 21 short-term rental bookings for the summer months have boomed.
Online booking platform Airbnb has said it is preparing for a “significant” travel rebound as the world emerges from coronavirus lockdowns.
In November, short-term rental bookings went up as news of a COVID-19 vaccine helped boost traveler confidence. Now, with the rollout of the vaccine underway, forecasts predict that it will still take some time for Airbnb occupancy rates to recover; however, national daily rates are expected to grow throughout 2021.
The site makes more than 50,000 apartments, villas and chalets available, drawing from Accor's 15 extended stay hotel brands (including Adagio, Mantra, and Hyde Living), as well as the company's portfolio of branded private residences which are privately owned and frequently included in managed rental programs (Raffles Residences, Banyan Tree Residences, Delano Residences, Fairmont Residences, SLS Residences, etc.) and one-of-a-kind private rentals (onefinestay), in over 350 destinations.
The number of destinations closed to international tourism has continued to fall. According to the eighth edition of the UNWTO Travel Restrictions Report, 70% of all global destinations have eased restrictions on travel introduced in response to the COVID-19 pandemic. In comparison, just one in four destinations continue to keep their borders completely closed to international tourists.
Like all other major players in the lodging industry, Airbnb was hemorrhaging cash at a rapid rate at the start of the COVID-19 pandemic. However, it was proactive in how it quickly changed its strategic direction internally and externally, resulting in a net profit of $219m for Q3 2020, says GlobalData.
Airbnb on Monday released its prospectus to debut on public markets.
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Following Airbnbs recent launch of its City Portal for local governments, Ralph Hollister, Travel & Tourism Analyst at GlobalData his view on the situation.
Hoteliers and vacation rentals have slowly started opening their doors to a more competitive market than ever before.