BTN Europe presents an overview of business travel and MICE predictions for this year
Virtual Event - 1 October 2020
ExCeL London - 22-23 June 2021
Airbnb has announced that Silver Lake and Sixth Street Partners will invest US$1 billion in the company in a combination of debt and equity securities.
One way Airbnb plans to use the new funds is to focus more on longer-term stays, including people on extended work assignments. "Airbnb is a place where many have found longer-term housing," said company co-founder and CEO Brian Chesky in a statement.
Chesky also predicted that once past this period of social distancing, "We'll see a new flexibility in how people live and work, which means they won't have to be tethered to one location."
During the Covid-19 outbreak, Airbnb has extended its cancellation policy, announced it will pay hosts US$250 million to alleviate lost revenue from cancellations, and created a Superhost Relief Fund to assist hosts in need of financial assistance to pay their rent or mortgage. The company's new investment will include a US$5 million contribution to that fund.