Airbnb CEO predicts permanent change in travel due to coronavirus

Airbnb CEO Brian Chesky predicted on Thursday that travel would change permanently due to the pandemic, with people searching thousands of small towns and spending more time visiting friends and family.

Traditional tourism and sightseeing in major global destinations would be drastically reduced by travelers who drive to smaller communities and travel less for business meetings.

AIRBNB WILL BLOCK, CANCEL ALL DC RESERVATIONS DURING THE INAUGURATION

Travelers “yearn for what has been taken from them,” Chesky told the Reuters Next conference in an interview with Jonathan Weber, Reuters global technology editor. “They don’t want to see Times Square. What they aspire to do is see their friends and families that they haven’t seen for a long time.

The startup was hit by the COVID-19 pandemic in early 2020 and its activity has fallen by 80% in just over eight weeks.

Airbnb CEO Brian Chesky predicted on Thursday that travel would change permanently due to the pandemic, with people searching thousands of small towns and spending more time visiting friends and family.

However, as the lockdowns eased, more travelers have chosen to book homes over hotels, helping Airbnb to post a surprise profit for the third quarter. The San Francisco-based company took advantage of the growing interest in renting homes away from major cities.

The house rental company went public in a successful IPO in December, with its shares more than doubling when they debuted. Airbnb shares rose 10% to a record high of $ 187.42 on Thursday.

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The rental platform has canceled house-sharing bookings in the Washington DC area for the inauguration of President-elect Joe Biden next Wednesday after law enforcement warned of a threat from armed militias.

Chesky recalled the white supremacist rally in Charlottesville, Virginia, and said he did not want the platform to make it easier for people to travel to commit violence in communities.

Airbnb made the decision after consulting with local and federal officials, and after a number of hosts raised concerns about potential attacks, they sought to cancel reservations.

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However, major hotel chains, including Hilton Worldwide Holdings Inc and Marriott International, have announced that they plan to maintain existing reservations.