Global Party Ban to be Observed on Airbnb Listings
Airbnb issued a global party ban, amid an on-going problem with unauthorized parties happening in several of the rental company’s property listings.
This is to ensure that none of the safety protocols in place due to the incumbent health crisis will be violated.
Similarly, the prior problem with neighbor complaints brought by party disturbances contributed to the move.
In 2019, the company started making improvements on festivity-related issues after implementing stricter restrictions on parties.
It reinstated that bar and club-related behavior is not welcome in any of their listings and it does not want to engage in such business. It stands by its vision of providing accommodation with a welcoming, homey feel.
The new policy will apply to all future bookings, and comes with a new occupancy cap, only allowing 16 guests.
Airbnb announced that 73% of listings worldwide already incorporated the protocol in their house rules. Consequently, thanks to the modern technology of search filters, “event-friendly” is no longer in the choices.
Possible legal actions could be taken on those guests proven to have broken the rules.
To prove its commitment, the company initiated legal proceedings against a guest who violated its ban of party houses just last week.
Struggling Airbnb Files for IPO
What could have been a year of sustained growth for Airbnb turned out to be its worst nightmare.
In the same period a year ago, the vacation rental company had around 150 million active users. It also had a gross revenue of more than $4 billion, marking a 21% year-on-year growth.
This year is running in the opposite course. In May, it let go 1,900 workers, translating to 25% of its total workforce. The projected revenue for 2020 is half of what the company took home last year.
They are keeping operations alive through a $2 billion loan and a $1 billion investment from private equity partners.
After people put aside all travel vacations due to the pandemic, Airbnb finally takes the jump to go public.
Technology news felt a shock as it submitted a draft registration statement for its IPO to the SEC today.
The details of the documents are currently confidential. What we know is that the company has used provisions of a 2012 law to file for its bid to offer stocks to regular investors.
The initial public offering will be available once the SEC completes the review process needed.
Demand has been keeping up lately, as guests prefer the straightforward book-and-go technology in comparison to the traditional booking process in a hotel.
However, analysts note that the IPO’s timing is the worst for the pandemic-stricken hospitality industry. However, the company will use any measure available to stop it from bleeding to death.
