Another big news is hitting the already fragile tourism industry: Airbnb is shutting down its home listing business in China, effective late July.
According to an announcement from Airbnb, starting at 11 a.m. today (Tuesday 24), users will no longer be able to book any accommodation listed on its Chinese platform Ai Bi Ying (爱彼迎) with an arrival date after July 29. . suspend all services related to real estate listings in China from July 30 and instead focus on the outbound tourism sector.
The San Francisco-based online marketplace for short-term accommodation and business rentals entered the Chinese market in 2015. According to a joint study by Queensland and Shandong Universities, released in 2019, Airbnb has not been well received in China despite its global presence. Hit. The research estimated that there were only 150,000 registrations in China nationwide in 2019. In comparison, one of the major Chinese platform providers, Tujia, had 1,400,000 registrations in the same year.
Sources told Ifeng.com that fierce competition among local online platforms and high operating costs prompted the company to focus on outbound tourism. According Ifeng.comsources also reveal that Airbnb will retain a team of around 100 employees at its Beijing headquarters, which Airbnb has not responded to at the time of writing.