Beijing time on May 24, two people familiar with the matter disclosed that Airbnb will close its business in mainland China. It is reported that Airbnb will announce the news to Chinese employees on Tuesday morning, Beijing time.All mainland China homes to be taken off shelves in summer.
Airbnb officially entered the Chinese mainland market in 2016 and faced fierce competition from mainland counterparts. The source said,The operating cost of the homestay industry is quite high, and the epidemic has had an adverse impact on the homestay industry.
▲ Airbnb will keep an office in Beijing
For Airbnb, overseas travel is a bigger opportunity for Chinese tourists, sources said.The company will be committed to providing services for Chinese tourists traveling abroad.
One source said there was little overlap between Airbnb’s outbound travel and domestic operations. It is reported that,Airbnb to keep an office of hundreds of employees in Beijing. Airbnb declined to comment.
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