Is This The End Of Airbnb? Hosts Are Calling It The Airbnb Apocalypse.

[Susan17]

The latest in a series of damning articles on how Airbnb is cheating and mistreating its hosts, by James Temperton of Wired UK, and Sal Rodriguez of CNBC -  two of the most savvy, clued up investigative reporters covering Airbnb in recent times. These guys have their fingers on the pulse, for sure. 

"Hosts are calling it the Airbnb apocalypse. But it’s more akin to an enema. Airbnb maintains that it’s “powered by local hosts”, but the reality is quite different. Yes, there are many hosts on Airbnb who live in the properties they list on the platform. But, in many markets, the number of “professional” hosts seemingly outnumbers those listing on Airbnb to earn a bit of extra cash from their cosy spare room"

Is this the end of Airbnb? | WIRED UK

https://www.wired.co.uk/article/airbnb-coronavirus-losses 

Henry Harteveldt, travel industry analyst at Atmosphere Research Group, said Airbnb’s slow delivery of the relief fund’s payments threatens to drive them to competing services and will not benefit the company in the long run. It also brings into question whether the company has a strong enough executive team. 

“None of this will be ignored when Airbnb does go public,” Harteveldt said. “It can expect to be grilled about this by potential investors"

Airbnb hosts getting almost nothing from $250 million relief fund
https://www.cnbc.com/2020/04/22/airbnb-hosts-getting-almost-nothing-from-250-million-relief-fund.htm...

[Susan17]

Previous articles about Airbnb by Temperton and Rodriguez

I stumbled across a huge Airbnb scam that’s taking over London | WIRED UK
https://www.wired.co.uk/article/airbnb-scam-london 

Airbnb has devoured London – and here’s the data that proves it | WIRED UK
https://www.wired.co.uk/article/airbnb-london-short-term-rentals

Airbnb Guests Were Promised Cash Refunds For Cancellations, But Some Say It's Not That Simple 

https://www.cnbc.com/2020/04/07/airbnb-guests-complain-its-hard-to-get-coronavirus-refunds.html

[Paul60]

@Susan17 Thank you for posting Susan,

Paul

[Mike-And-Jane0]

@Susan17  Having read the first two articles I think this may actually be the making of Airbnb. They may end up slightly smaller as they lose listings from those people out to make a quick buck by renting properties then Airbnbing them realise that there is risk in every financial undertaking and that money doesn't always grow on trees. Equally they will have to get a grip on their costs - It beggars belief that they can't turn a profit on 20% revenues!

But at the end of the day their business model is brilliant (for them and investors). The hotels have expensive real estate, many more employees to deal with, and an equal loss of revenues. Airbnb just have their support staff and a few no doubt overpriced offices.