TripAdvisor closes a shared housing program in Chicago | Economy | companies

TripAdvisor Inc. closed its home rental operations at Chicago at the end of last year in response to the stringent new rules imposed by the city.

Massachusetts, began closing housing leases when the new rules, which require all tenants to register in town and obtain insurance, were approved in December 2016.

Completion of the process in late 2017, noted a spokeswoman for TripAdvisor by email.

Short-term rental housing is the fastest-growing part of the world's fastest-growing housing industry, and Chicago, the third largest city in the country, is a key market.

In an attempt to compete with Airbnb Inc., a San Francisco start-up, older travel companies such as Booking Holdings Inc., Expedia Group Inc. and TripAdvisor have been quick to add urban listings to their lists of traditional vacation rentals. beach and mountain.

Stocks of TripAdvisor have climbed nearly 76% this year to be around $ 60, while they rebound after a decline in years of activity due to the abandonment of announcing offers from other companies. try to build your own hotel booking business.

The shares are still well below their June 2011 high of US $ 110.21. Analysts believe that non-hotel deals are essential to the growth of the lodging sales business.