{"id":1157,"date":"2020-08-21T00:30:25","date_gmt":"2020-08-21T00:30:25","guid":{"rendered":"https:\/\/businessner.com\/?p=1157"},"modified":"2020-08-21T00:25:24","modified_gmt":"2020-08-21T00:25:24","slug":"global-party-ban-declared-on-airbnb-listings-amid-pandemic","status":"publish","type":"post","link":"https:\/\/businessner.com\/global-party-ban-declared-on-airbnb-listings-amid-pandemic\/","title":{"rendered":"Global Party Ban Declared on Airbnb Listings Amid Pandemic"},"content":{"rendered":"
Expect any house parties you\u2019ll be planning on an Airbnb rental to be disallowed for the meantime.<\/p>\n
The global community of hosts and travelers Airbnb announced<\/a> on Thursday (August 20) that it will be implementing a global ban on all parties and events on its Airbnb listings.<\/p>\n An occupancy cap of 16 people, primarily relevant in larger homes and properties, will also be implemented in all of the listings of the San Francisco-based company.<\/p>\n The global party ban applies to all future bookings on Airbnb and will remain in effect indefinitely under further notice, the tech startup said.<\/p>\n According to Airbnb, every guest making a booking will be informed about party rules and informed that they may be legally pursued and banned from the community by Airbnb if they violate the policy.<\/p>\n The vacation and travel tech startup which currently has 150 million users worldwide with over 2 million people staying in their property listings overnight is now valued at over $35 billion based on recent stock sales.<\/p>\n According to Airbnb\u2019s statement, when the pandemic was declared, and social distancing became an important element in promoting public health and responsible travel, they had to update their policies.<\/p>\n Despite already reporting only $335 million in revenues or a steep 67% decrease in profits for the quarter ending June 30, the company said it is in the best interest of public health that they impose the new party ban policy.<\/p>\n \u201cWe started by removing both the \u201cevent-friendly\u201d search filter from our platform as well as \u201cparties and events allowed\u201d House Rules from any event-friendly listings,\u201d the tech startup said.<\/p><\/blockquote>\n<\/blockquote>\n The company also introduced a new policy requiring all users to adhere to local COVID-19 public health mandates.<\/p>\n Even before Covid-19, unauthorized parties have always been prohibited in Airbnb listings, with 73 percent of the company\u2019s 7 million listings already banning the conduct of events such as parties in their house rules.<\/p>\n Last year, the company also rolled out stricter limits by removing so-called \u201cparty houses\u201d or listings that are often reported as persistent neighborhood nuisance. They also introduced new initiatives to ban unauthorized parties by conducting a manual review of high-risk reservations as well as restrictions on allowing guests under 25 years old without a history of positive reviews to book home listings.<\/p>\n While the company reported huge losses in the first half of 2020 due to the pandemic, it has already reported<\/a> that for the first time since March, guest bookings have already reached 1 million in a day last July 8.<\/p>\n Early signs of recovery last July 8 were guests bookings in over 175 different countries with nights booked skewed toward domestic travel.<\/p>\n According to Airbnb, most guests have not been traveling far with half of these nights booked for travel to destinations within 300 miles. Over two-thirds of bookings were also for travel to destinations within 500 miles which are all manageable for travel by car.<\/p>\n In rural areas in the US, the company reported that hosts earned over $200 million in June, an increase of more than 25 percent over what hosts in these areas earned in June 2019.<\/p>\n The hugely anticipated Initial Public Offering (IPO) of the short-term rental startup was initially scheduled on March 31 by Airbnb CEO Brian Chesky but had to be placed on hold after the pandemic.<\/p>\n In April, the company raised over $2 billion from investors only valuing the company at $18 billion. This was well below the initial $26 billion valuations Airbnb cited as an internal valuation in early March reflecting the huge impact of the pandemic on the business.<\/p>\n The company also reported a 25% staff reduction in May due to a worldwide dip in recorded travels.<\/p>\n But it seems that the company\u2019s stock market entry is back on the table. The BBC reported<\/a> it has filed confidential registration documents with the U.S. Securities and Exchange Commission potentially drawing one of the biggest share sales of 2020.<\/p>\n Most of the analysts, however, expect the IPO to be rescheduled in the fourth quarter of 2020 in a report<\/a> by Bloomberg as a boost in global domestic travel has helped the firm recover its revenues lost during the pandemic.<\/p>\nCovid-19 pandemic pushed Airbnb to update policies<\/h2>\n
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Bookings start to recover, stock market debut still planned<\/h2>\n
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