News > Pandemic hits Airbnb hard as company loses millions in revenue
Pandemic hits Airbnb hard as company loses millions in revenue
The Siasat | 17/11/2020 01:05 PM | Click to read full article
Hit hard by the Covid-19 pandemic, the home-rental service Airbnb saw its gross booking revenue (GBV) nosediving by 39 per cent.
“We believe that we are still early in the global shift in consumer preferences toward one-of-a-kind stays and experiences,” said the company. “However, we believe that as the world recovers from this pandemic, Airbnb will be a vital source of economic empowerment for millions of people”.